Rockwell Automation, Inc. (NYSE:ROK) Position Boosted by Resources Management Corp CT ADV

Resources Management Corp CT ADV raised its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 511.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,528 shares of the industrial products company’s stock after acquiring an additional 1,278 shares during the quarter. Resources Management Corp CT ADV’s holdings in Rockwell Automation were worth $410,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Rockwell Automation by 9.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 18,426 shares of the industrial products company’s stock valued at $5,072,000 after buying an additional 1,652 shares during the last quarter. Great Valley Advisor Group Inc. lifted its holdings in shares of Rockwell Automation by 7.3% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 1,886 shares of the industrial products company’s stock valued at $519,000 after buying an additional 128 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Rockwell Automation during the 2nd quarter valued at about $97,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Rockwell Automation by 12.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,915 shares of the industrial products company’s stock valued at $1,628,000 after buying an additional 664 shares during the last quarter. Finally, J.Safra Asset Management Corp lifted its holdings in shares of Rockwell Automation by 17.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 957 shares of the industrial products company’s stock valued at $263,000 after buying an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Insider Activity

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 4,576 shares in the company, valued at $1,221,151.36. This represents a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Blake D. Moret sold 26,700 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $298.63, for a total value of $7,973,421.00. Following the completion of the sale, the chief executive officer now owns 78,115 shares in the company, valued at $23,327,482.45. This trade represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,541 shares of company stock worth $10,586,674. Company insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

ROK has been the subject of several research reports. Morgan Stanley lifted their price target on Rockwell Automation from $320.00 to $335.00 and gave the company an “overweight” rating in a report on Friday, November 15th. BNP Paribas began coverage on Rockwell Automation in a report on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 target price for the company. Wells Fargo & Company boosted their target price on Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Citigroup boosted their target price on Rockwell Automation from $313.00 to $345.00 and gave the stock a “buy” rating in a report on Monday. Finally, Oppenheimer boosted their target price on Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $294.75.

Rockwell Automation Stock Down 1.7 %

Shares of ROK stock opened at $293.72 on Wednesday. Rockwell Automation, Inc. has a 12 month low of $242.81 and a 12 month high of $312.76. The firm has a market cap of $33.16 billion, a PE ratio of 35.47, a price-to-earnings-growth ratio of 3.09 and a beta of 1.36. The stock has a 50 day moving average of $278.28 and a 200-day moving average of $269.09. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. Rockwell Automation’s quarterly revenue was down 20.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.64 earnings per share. On average, equities analysts predict that Rockwell Automation, Inc. will post 9.39 EPS for the current year.

Rockwell Automation announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Rockwell Automation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.31 per share. The ex-dividend date of this dividend was Monday, November 18th. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.78%. Rockwell Automation’s payout ratio is currently 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.