Mutual of America Capital Management LLC Sells 407 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Mutual of America Capital Management LLC reduced its position in Rockwell Automation, Inc. (NYSE:ROK) by 2.8% in the 3rd quarter, Holdings Channel reports. The firm owned 13,976 shares of the industrial products company’s stock after selling 407 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Rockwell Automation were worth $3,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Pathway Financial Advisers LLC bought a new position in shares of Rockwell Automation during the 1st quarter worth about $26,000. Richardson Financial Services Inc. lifted its stake 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 during the period. Ashton Thomas Securities LLC acquired a new stake in Rockwell Automation during the third quarter valued at approximately $26,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Rockwell Automation in the 2nd quarter valued at approximately $36,000. Finally, Cultivar Capital Inc. acquired a new position in shares of Rockwell Automation in the 2nd quarter worth approximately $46,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Insider Transactions at Rockwell Automation

In other news, SVP Veena M. Lakkundi sold 579 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $266.86, for a total value of $154,511.94. Following the completion of the sale, the senior vice president now directly owns 4,576 shares of the company’s stock, valued at $1,221,151.36. This represents a 11.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP John M. Miller sold 467 shares of Rockwell Automation stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $284.07, for a total transaction of $132,660.69. Following the transaction, the vice president now directly owns 4,800 shares in the company, valued at $1,363,536. The trade was a 8.87 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Morgan Stanley upped their price target on Rockwell Automation from $320.00 to $335.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Mizuho upped their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Bank of America lifted their price target on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. BNP Paribas assumed coverage on shares of Rockwell Automation in a research note on Wednesday, November 13th. They set an “outperform” rating and a $345.00 price objective on the stock. Finally, TD Cowen cut their target price on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $286.13.

Rockwell Automation Price Performance

Shares of ROK stock opened at $278.13 on Friday. The firm has a market cap of $31.40 billion, a price-to-earnings ratio of 33.59, a PEG ratio of 2.89 and a beta of 1.36. Rockwell Automation, Inc. has a 12 month low of $242.81 and a 12 month high of $312.76. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average price of $270.83 and a 200 day moving average price of $267.11.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the company earned $3.64 EPS. Rockwell Automation’s revenue was down 20.6% on a year-over-year basis. Research analysts expect that Rockwell Automation, Inc. will post 9.46 EPS for the current year.

Rockwell Automation declared that its Board of Directors has authorized a share repurchase program on Thursday, September 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Rockwell Automation Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend yield of 1.88%. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s dividend payout ratio is 63.29%.

Rockwell Automation Profile

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.