Beacon Investment Advisory Services Inc. Lowers Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Beacon Investment Advisory Services Inc. decreased its stake in Rockwell Automation, Inc. (NYSE:ROK) by 33.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,181 shares of the industrial products company’s stock after selling 606 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Rockwell Automation were worth $317,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its position in Rockwell Automation by 33.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,556,292 shares of the industrial products company’s stock worth $417,802,000 after purchasing an additional 390,784 shares in the last quarter. Accredited Investors Inc. boosted its position in Rockwell Automation by 162,058.5% during the third quarter. Accredited Investors Inc. now owns 1,185,379 shares of the industrial products company’s stock worth $318,227,000 after purchasing an additional 1,184,648 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Rockwell Automation by 6.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,128,811 shares of the industrial products company’s stock worth $303,041,000 after purchasing an additional 67,684 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Rockwell Automation by 4.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 986,849 shares of the industrial products company’s stock worth $264,929,000 after purchasing an additional 41,605 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in Rockwell Automation by 29,591.7% during the third quarter. International Assets Investment Management LLC now owns 936,178 shares of the industrial products company’s stock worth $251,326,000 after purchasing an additional 933,025 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

Shares of Rockwell Automation stock opened at $297.18 on Tuesday. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $312.76. The company has a market cap of $33.55 billion, a price-to-earnings ratio of 35.89, a PEG ratio of 3.07 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08. The business’s 50 day moving average price is $275.35 and its 200 day moving average price is $268.16.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the business earned $3.64 earnings per share. The company’s revenue for the quarter was down 20.6% on a year-over-year basis. On average, research analysts predict that Rockwell Automation, Inc. will post 9.44 EPS for the current year.

Rockwell Automation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $1.31 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.76%. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s payout ratio is currently 63.29%.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on ROK shares. Bank of America increased their price target on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. BNP Paribas began coverage on Rockwell Automation in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 target price on the stock. Robert W. Baird raised their target price on Rockwell Automation from $290.00 to $305.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. TD Cowen decreased their target price on 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, Wells Fargo & Company raised their target price on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $287.13.

Insider Buying and Selling at Rockwell Automation

In related news, Director James P. Keane sold 2,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $296.00, for a total value of $592,000.00. Following the sale, the director now owns 11,518 shares in the company, valued at approximately $3,409,328. The trade was a 14.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Cyril Perducat sold 1,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the completion of the sale, the senior vice president now owns 3,630 shares in the company, valued at $1,089,000. This represents a 21.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,746 shares of company stock worth $9,152,594 over the last quarter. 0.68% of the stock is currently owned by company insiders.

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.