Rockwell Automation (NYSE:ROK) SVP Sujeet Chand sold 3,547 shares of the firm’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $176.25, for a total value of $625,158.75. Following the completion of the sale, the senior vice president now directly owns 51,527 shares of the company’s stock, valued at $9,081,633.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
ROK traded down $5.23 on Friday, reaching $162.02. The stock had a trading volume of 327,070 shares, compared to its average volume of 825,062. Rockwell Automation has a 12-month low of $153.67 and a 12-month high of $209.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.27. The stock has a market capitalization of $20.69 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 1.63 and a beta of 1.29.
Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, November 7th. The industrial products company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.09. Rockwell Automation had a net margin of 8.03% and a return on equity of 57.53%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the company earned $1.69 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts forecast that Rockwell Automation will post 9.03 earnings per share for the current year.
Rockwell Automation declared that its Board of Directors has approved a stock repurchase program on Thursday, September 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Monday, November 12th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 2.39%. This is a positive change from Rockwell Automation’s previous quarterly dividend of $0.92. The ex-dividend date is Thursday, November 8th. Rockwell Automation’s payout ratio is presently 47.84%.
ROK has been the topic of several analyst reports. Zacks Investment Research downgraded Rockwell Automation from a “buy” rating to a “hold” rating in a report on Friday, November 30th. Stephens started coverage on Rockwell Automation in a report on Monday, November 19th. They set an “overweight” rating and a $200.00 target price on the stock. Berenberg Bank set a $145.00 price target on Rockwell Automation and gave the stock a “sell” rating in a research report on Monday, November 19th. Citigroup set a $185.00 price target on Rockwell Automation and gave the stock a “hold” rating in a research report on Thursday, November 8th. Finally, Credit Suisse Group upped their price objective on Rockwell Automation from $171.00 to $173.00 and gave the company an “underperform” rating in a research report on Thursday, November 8th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $178.87.
Hedge funds have recently modified their holdings of the company. Somerville Kurt F lifted its holdings in shares of Rockwell Automation by 1.8% in the 3rd quarter. Somerville Kurt F now owns 62,934 shares of the industrial products company’s stock worth $11,802,000 after acquiring an additional 1,105 shares during the last quarter. BB&T Corp increased its position in shares of Rockwell Automation by 34.4% in the 3rd quarter. BB&T Corp now owns 13,467 shares of the industrial products company’s stock valued at $2,526,000 after purchasing an additional 3,449 shares during the last quarter. BB&T Securities LLC increased its position in shares of Rockwell Automation by 28.1% in the 2nd quarter. BB&T Securities LLC now owns 4,952 shares of the industrial products company’s stock valued at $823,000 after purchasing an additional 1,087 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of Rockwell Automation by 27.9% in the 2nd quarter. Baird Financial Group Inc. now owns 258,416 shares of the industrial products company’s stock valued at $42,956,000 after buying an additional 56,414 shares during the last quarter. Finally, Chartwell Investment Partners LLC grew its position in shares of Rockwell Automation by 64.8% in the 2nd quarter. Chartwell Investment Partners LLC now owns 13,699 shares of the industrial products company’s stock valued at $2,277,000 after buying an additional 5,385 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.
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Rockwell Automation Company Profile
Rockwell Automation Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.
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