Coastline Trust Co Purchases Shares of 500 Rockwell Automation, Inc. (NYSE:ROK)

Coastline Trust Co acquired a new position in Rockwell Automation, Inc. (NYSE:ROK) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 500 shares of the industrial products company’s stock, valued at approximately $134,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. CreativeOne Wealth LLC lifted its holdings in shares of Rockwell Automation by 3.0% in the 1st quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock worth $372,000 after purchasing an additional 37 shares during the last quarter. Mather Group LLC. grew its position in shares of Rockwell Automation by 5.9% during the second quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock worth $198,000 after acquiring an additional 38 shares during the last quarter. Pure Financial Advisors LLC increased its holdings in shares of Rockwell Automation by 2.7% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock worth $444,000 after acquiring an additional 42 shares during the period. Pitcairn Co. lifted its position in Rockwell Automation by 4.2% in the 1st quarter. Pitcairn Co. now owns 1,096 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 44 shares during the last quarter. Finally, Hancock Whitney Corp boosted its stake in Rockwell Automation by 2.5% during the 1st quarter. Hancock Whitney Corp now owns 1,805 shares of the industrial products company’s stock valued at $526,000 after purchasing an additional 44 shares during the period. 75.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $266.86, for a total transaction of $154,511.94. Following the sale, the senior vice president now directly owns 4,576 shares of the company’s stock, valued at $1,221,151.36. The trade was a 11.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company raised their price target 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. Bank of America lifted their target price on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. decreased their price target on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. BNP Paribas assumed coverage on shares of Rockwell Automation in a research note on Wednesday. They set an “outperform” rating and a $345.00 price objective on the stock. Finally, Robert W. Baird raised their target price on shares of Rockwell Automation from $280.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $286.13.

Rockwell Automation Trading Down 0.1 %

Rockwell Automation stock opened at $286.15 on Friday. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76. The firm’s 50 day moving average price is $269.16 and its two-hundred day moving average price is $266.84. The firm has a market cap of $32.31 billion, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 2.95 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.17 and a current ratio of 1.08.

Rockwell Automation (NYSE:ROK) last announced 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. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. Rockwell Automation’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.64 earnings per share. On average, research analysts predict that Rockwell Automation, Inc. will post 9.54 EPS for the current fiscal year.

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

Rockwell Automation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.31 per share. The ex-dividend date is Monday, November 18th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.83%. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s payout ratio is currently 60.39%.

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.