Summit Asset Management LLC Invests $2.85 Million in Rockwell Automation, Inc. $ROK

Summit Asset Management LLC bought a new stake in Rockwell Automation, Inc. (NYSE:ROK) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,767 shares of the industrial products company’s stock, valued at approximately $2,855,000.

Other hedge funds have also bought and sold shares of the company. Mandatum Life Insurance Co Ltd boosted its position in Rockwell Automation by 26.9% during the first quarter. Mandatum Life Insurance Co Ltd now owns 22,200 shares of the industrial products company’s stock worth $7,967,000 after purchasing an additional 4,700 shares during the period. Brighton Jones LLC bought a new position in shares of Rockwell Automation in the fourth quarter valued at about $281,000. Handelsbanken Fonder AB lifted its stake in shares of Rockwell Automation by 24.6% during the 4th quarter. Handelsbanken Fonder AB now owns 169,457 shares of the industrial products company’s stock worth $65,931,000 after buying an additional 33,413 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Rockwell Automation by 197.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 13,905 shares of the industrial products company’s stock worth $5,410,000 after buying an additional 9,238 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Rockwell Automation by 19.6% during the 4th quarter. Hsbc Holdings PLC now owns 274,512 shares of the industrial products company’s stock worth $106,965,000 after buying an additional 44,944 shares during the period. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Automation Price Performance

NYSE:ROK opened at $449.33 on Friday. Rockwell Automation, Inc. has a 52 week low of $332.71 and a 52 week high of $497.36. The firm has a market cap of $49.90 billion, a price-to-earnings ratio of 42.11, a P/E/G ratio of 2.62 and a beta of 1.54. The firm’s 50-day simple moving average is $463.72 and its 200 day simple moving average is $426.45. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.74 and a current ratio of 1.08.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.38 by $0.11. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Rockwell Automation had a net margin of 13.39% and a return on equity of 39.83%. The business’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.82 EPS. Rockwell Automation has set its FY 2026 guidance at 13.000-13.300 EPS. As a group, sell-side analysts predict that Rockwell Automation, Inc. will post 13.22 earnings per share for the current year.

Rockwell Automation declared that its Board of Directors has approved a share buyback program on Tuesday, June 9th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Rockwell Automation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 17th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, August 17th. Rockwell Automation’s payout ratio is presently 51.73%.

Insider Activity at Rockwell Automation

In related news, VP John M. Miller sold 1,054 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $426.02, for a total value of $449,025.08. Following the completion of the sale, the vice president directly owned 5,615 shares in the company, valued at approximately $2,392,102.30. The trade was a 15.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Matthew W. Fordenwalt sold 377 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $460.51, for a total value of $173,612.27. Following the sale, the senior vice president directly owned 4,437 shares in the company, valued at $2,043,282.87. This represents a 7.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,649 shares of company stock valued at $722,119. 0.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on ROK. JPMorgan Chase & Co. increased their price target on shares of Rockwell Automation from $404.00 to $417.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Barclays boosted their price objective on Rockwell Automation from $400.00 to $480.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Wall Street Zen downgraded Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. HSBC increased their target price on Rockwell Automation from $445.00 to $490.00 in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company lifted their price target on Rockwell Automation from $360.00 to $440.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Nine research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, Rockwell Automation has an average rating of “Hold” and a consensus target price of $468.67.

About Rockwell Automation

Rockwell Automation is a global industrial automation and digital transformation company headquartered in Milwaukee, Wisconsin. The firm designs, manufactures and supports control systems, industrial control hardware and software, and related services that help manufacturers and industrial operators automate processes, improve productivity and enable data-driven decision making. Rockwell traces its heritage to the Allen-Bradley and Rockwell automation businesses and positions itself as a provider of integrated automation solutions across discrete and process industries.

The company’s product portfolio includes programmable logic controllers (PLCs), human-machine interfaces (HMIs), variable frequency drives, sensors, safety components and other industrial control hardware, often marketed under the Allen-Bradley brand.