Rockwell Automation, Inc. (NYSE:ROK) Position Decreased by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lowered its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 20.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,351 shares of the industrial products company’s stock after selling 1,403 shares during the period. Crossmark Global Holdings Inc.’s holdings in Rockwell Automation were worth $1,437,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new stake in shares of Rockwell Automation during the first quarter worth $26,000. Richardson Financial Services Inc. lifted its position in shares of 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 acquiring an additional 48 shares in the last quarter. ESL Trust Services LLC acquired a new position in Rockwell Automation in the 1st quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL purchased a new position in Rockwell Automation during the 2nd quarter worth approximately $36,000. Finally, Cultivar Capital Inc. acquired a new stake in Rockwell Automation during the 2nd quarter valued at $46,000. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Price Performance

Shares of NYSE:ROK opened at $286.57 on Thursday. The firm has a market capitalization of $32.52 billion, a PE ratio of 34.61, a PEG ratio of 2.86 and a beta of 1.36. The company has a current ratio of 1.84, a quick ratio of 1.17 and a debt-to-equity ratio of 0.70. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76. The business’s 50 day moving average is $267.36 and its 200-day moving average is $266.55.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.07. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The company’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.64 earnings per share. Sell-side analysts predict that Rockwell Automation, Inc. will post 9.54 earnings per share for the current year.

Rockwell Automation announced that its Board of Directors has authorized a stock buyback program on Thursday, September 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are often a sign 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. Shareholders of record on Monday, November 18th will be paid a dividend of $1.31 per share. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a yield of 1.83%. The ex-dividend date is Monday, November 18th. Rockwell Automation’s dividend payout ratio is currently 60.39%.

Insider Activity

In other news, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $266.86, for a total value of $154,511.94. Following the completion of the transaction, the senior vice president now owns 4,576 shares in the company, valued at approximately $1,221,151.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ROK. Robert W. Baird lifted their price target on Rockwell Automation from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, November 8th. UBS Group initiated coverage on Rockwell Automation in a research note on Wednesday. They set a “neutral” rating and a $313.00 target price on the stock. Morgan Stanley started coverage on shares of Rockwell Automation in a research report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price target for the company. Mizuho raised their price target on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, BNP Paribas initiated coverage on shares of Rockwell Automation in a research note on Wednesday. They issued an “outperform” rating and a $345.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Rockwell Automation currently has a consensus rating of “Hold” and an average target price of $285.13.

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.