Ashton Thomas Securities LLC Makes New Investment in Rockwell Automation, Inc. (NYSE:ROK)

Ashton Thomas Securities LLC acquired a new stake in shares of Rockwell Automation, Inc. (NYSE:ROK) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 95 shares of the industrial products company’s stock, valued at approximately $26,000.

Several other institutional investors have also bought and sold shares of ROK. Pathway Financial Advisers LLC bought a new stake in shares of Rockwell Automation during the 1st quarter worth about $26,000. Richardson Financial Services Inc. raised its holdings in Rockwell Automation by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 48 shares in the last quarter. ESL Trust Services LLC acquired a new stake in Rockwell Automation in the first quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL bought a new position in Rockwell Automation during the 2nd quarter valued at $36,000. Finally, Cultivar Capital Inc. acquired a new position in shares of Rockwell Automation during the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on ROK shares. Oppenheimer raised their target price on Rockwell Automation from $288.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Barclays lifted their price objective on shares of Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Wells Fargo & Company increased their target price on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. TD Cowen decreased their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Finally, Mizuho raised their price objective on Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $285.13.

Insider Transactions at Rockwell Automation

In related news, SVP Veena M. Lakkundi sold 579 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $266.86, for a total value of $154,511.94. Following the transaction, the senior vice president now owns 4,576 shares in the company, valued at approximately $1,221,151.36. This represents a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.68% of the company’s stock.

Rockwell Automation Price Performance

Shares of ROK opened at $286.43 on Friday. The business’s 50-day moving average is $267.96 and its 200-day moving average is $266.69. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.84 and a quick ratio of 1.17. The company has a market capitalization of $32.50 billion, a price-to-earnings ratio of 34.59, a P/E/G ratio of 2.86 and a beta of 1.36. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $312.76.

Rockwell Automation (NYSE:ROK) last released its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the firm earned $3.64 EPS. The company’s revenue was down 20.6% compared to the same quarter last year. Equities research analysts expect that Rockwell Automation, Inc. will post 9.54 EPS for the current fiscal year.

Rockwell Automation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a $1.31 dividend. The ex-dividend date is Monday, November 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.83%. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s payout ratio is 63.29%.

Rockwell Automation announced that its board has initiated a stock repurchase plan on Thursday, September 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

About Rockwell Automation

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.