Rockwell Automation, Inc. (NYSE:ROK) CEO Blake D. Moret Sells 26,700 Shares of Stock

Rockwell Automation, Inc. (NYSE:ROK) CEO Blake D. Moret sold 26,700 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $298.63, for a total value of $7,973,421.00. Following the transaction, the chief executive officer now directly owns 78,115 shares of the company’s stock, valued at approximately $23,327,482.45. The trade was a 25.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Rockwell Automation Price Performance

Rockwell Automation stock opened at $298.84 on Tuesday. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The stock’s 50 day moving average price is $272.12 and its two-hundred day moving average price is $267.32. 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 stock has a market capitalization of $33.74 billion, a price-to-earnings ratio of 36.09, a PEG ratio of 3.02 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last issued 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. 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 analysts’ expectations of $2.06 billion. During the same period last year, the business earned $3.64 EPS. Rockwell Automation’s quarterly revenue was down 20.6% compared to the same quarter last year. On average, equities analysts predict that Rockwell Automation, Inc. will post 9.46 earnings per share for the current year.

Rockwell Automation declared that its Board of Directors has initiated a share repurchase program 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 purchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Rockwell Automation Increases Dividend

The company also recently announced 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 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 1.75%. The ex-dividend date is Monday, November 18th. Rockwell Automation’s dividend payout ratio (DPR) is currently 63.29%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ROK shares. 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 research note on Monday, October 7th. Oppenheimer boosted their target price on Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Morgan Stanley boosted their target price on Rockwell Automation from $320.00 to $335.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. UBS Group assumed coverage on Rockwell Automation in a research note on Wednesday, November 13th. They set a “neutral” rating and a $313.00 target price for the company. Finally, Mizuho upped their price objective on Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $286.13.

Hedge Funds Weigh In On Rockwell Automation

Large investors have recently modified their holdings of the company. Pathway Financial Advisers LLC bought a new position in shares of Rockwell Automation in the 1st quarter worth $26,000. Richardson Financial Services Inc. raised its position in Rockwell Automation by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after buying an additional 48 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Rockwell Automation in the 3rd quarter valued at $26,000. Darwin Wealth Management LLC purchased a new stake in Rockwell Automation in the 3rd quarter valued at $34,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Rockwell Automation in the 2nd quarter valued at $36,000. 75.75% of the stock is currently owned by institutional investors.

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.