James P. Keane Sells 2,000 Shares of Rockwell Automation, Inc. (NYSE:ROK) Stock

Rockwell Automation, Inc. (NYSE:ROK) Director James P. Keane sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $296.00, for a total transaction of $592,000.00. Following the completion of the sale, the director now directly owns 11,518 shares of the company’s stock, valued at approximately $3,409,328. This trade represents a 14.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rockwell Automation Stock Performance

Shares of Rockwell Automation stock traded up $0.19 during midday trading on Friday, hitting $295.14. The company had a trading volume of 395,526 shares, compared to its average volume of 893,438. The stock has a market cap of $33.32 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 3.07 and a beta of 1.36. 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 company has a fifty day simple moving average of $274.63 and a 200 day simple moving average of $268.05. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share 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 for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the company earned $3.64 EPS. Rockwell Automation’s quarterly revenue was down 20.6% on a year-over-year basis. As a group, analysts predict that Rockwell Automation, Inc. will post 9.44 earnings per share for the current fiscal year.

Rockwell Automation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.31 dividend. This represents a $5.24 annualized dividend and a yield of 1.78%. The ex-dividend date is Monday, November 18th. 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 declared that its Board of Directors has authorized a stock buyback program on Thursday, September 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Rockwell Automation

Hedge funds and other institutional investors have recently made changes to their positions in the company. Gladstone Institutional Advisory LLC grew its stake in shares of Rockwell Automation by 33.2% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 1,377 shares of the industrial products company’s stock worth $370,000 after purchasing an additional 343 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Rockwell Automation during the 3rd quarter worth approximately $912,000. Vicus Capital acquired a new stake in shares of Rockwell Automation during the 3rd quarter worth approximately $304,000. Sompo Asset Management Co. Ltd. lifted its position in shares of Rockwell Automation by 8.8% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 33,753 shares of the industrial products company’s stock valued at $9,061,000 after buying an additional 2,736 shares in the last quarter. Finally, Catalytic Wealth RIA LLC purchased a new position in shares of Rockwell Automation during the 3rd quarter valued at approximately $559,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Analyst Ratings Changes

ROK has been the subject of a number of research reports. Robert W. Baird upped their price objective on shares of Rockwell Automation from $290.00 to $305.00 and gave the stock an “outperform” rating in a research note on Tuesday. Mizuho upped their price objective on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Barclays increased their price target on shares of Rockwell Automation from $245.00 to $255.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. Bank of America increased their price target on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $287.13.

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.