Davis R M Inc. Purchases 9,105 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Davis R M Inc. raised its position in Rockwell Automation, Inc. (NYSE:ROK) by 11.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 85,468 shares of the industrial products company’s stock after acquiring an additional 9,105 shares during the period. Davis R M Inc.’s holdings in Rockwell Automation were worth $22,945,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Pathway Financial Advisers LLC bought a new stake in Rockwell Automation during the 1st quarter valued at $26,000. Richardson Financial Services Inc. increased its position in shares of 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 acquiring an additional 48 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Rockwell Automation during the third quarter worth about $26,000. Darwin Wealth Management LLC acquired a new stake in shares of Rockwell Automation in the 3rd quarter worth about $34,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Rockwell Automation in the 2nd quarter valued at about $36,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, VP John M. Miller sold 467 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $284.07, for a total transaction of $132,660.69. Following the completion of the transaction, the vice president now owns 4,800 shares of the company’s stock, valued at $1,363,536. This represents a 8.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Veena M. Lakkundi sold 579 shares of the company’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 in the company, valued at approximately $1,221,151.36. The trade was a 11.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective 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. Oppenheimer increased their price target on Rockwell Automation from $288.00 to $300.00 and gave the company an “outperform” rating in a research report 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 report on Friday, November 8th. Bank of America increased their target price 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. Finally, TD Cowen cut their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $286.13.

Rockwell Automation Stock Performance

Shares of ROK opened at $290.86 on Monday. The firm has a market capitalization of $32.84 billion, a PE ratio of 35.13, a price-to-earnings-growth ratio of 3.02 and a beta of 1.36. The company has a 50-day simple moving average of $271.38 and a two-hundred day simple moving average of $267.12. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $312.76. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 0.72.

Rockwell Automation (NYSE:ROK) last released its earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. The firm 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%. The company’s quarterly revenue was down 20.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.64 earnings per share. On average, analysts anticipate that Rockwell Automation, Inc. will post 9.46 EPS for the current fiscal year.

Rockwell Automation declared that its Board of Directors has approved a stock repurchase plan 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 reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Rockwell Automation Increases Dividend

The business also recently disclosed 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. This represents a $5.24 annualized dividend and a dividend yield of 1.80%. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, November 18th. Rockwell Automation’s dividend payout ratio is 63.29%.

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.