Sigma Planning Corp Has $1.05 Million Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Sigma Planning Corp trimmed its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 3.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,922 shares of the industrial products company’s stock after selling 126 shares during the quarter. Sigma Planning Corp’s holdings in Rockwell Automation were worth $1,053,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Gladstone Institutional Advisory LLC grew its holdings in shares of Rockwell Automation by 33.2% during the third 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 last quarter. Vicus Capital acquired a new position in Rockwell Automation during the 3rd quarter worth about $304,000. Comerica Bank increased its position in Rockwell Automation by 6.1% in the 1st quarter. Comerica Bank now owns 60,019 shares of the industrial products company’s stock valued at $17,485,000 after acquiring an additional 3,425 shares in the last quarter. Magnetar Financial LLC bought a new position in shares of Rockwell Automation in the first quarter worth about $2,817,000. Finally, Advisors Asset Management Inc. raised its stake in shares of Rockwell Automation by 16.1% in the first quarter. Advisors Asset Management Inc. now owns 27,924 shares of the industrial products company’s stock worth $8,135,000 after acquiring an additional 3,864 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Automation Stock Up 3.1 %

Rockwell Automation stock opened at $286.57 on Thursday. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $312.76. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.84 and a quick ratio of 1.17. The firm has a market capitalization of $32.52 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 2.86 and a beta of 1.36. The company’s 50 day simple moving average is $267.36 and its 200 day simple moving average is $266.55.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $2.06 billion. During the same period last year, the firm posted $3.64 earnings per share. The business’s quarterly revenue was down 20.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Rockwell Automation, Inc. will post 9.54 EPS for the current year.

Rockwell Automation declared that its Board of Directors has authorized a stock repurchase program on Thursday, September 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Rockwell Automation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.31 dividend. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Monday, November 18th. Rockwell Automation’s dividend payout ratio is 60.39%.

Insider Transactions at Rockwell Automation

In related news, SVP Veena M. Lakkundi sold 579 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was 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 directly owns 4,576 shares in the company, valued at approximately $1,221,151.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ROK. Robert W. Baird raised their price target on shares of Rockwell Automation from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Oppenheimer lifted their target price on Rockwell Automation from $288.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. 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 report on Monday, October 7th. Morgan Stanley initiated coverage on Rockwell Automation in a report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price target on the stock. Finally, UBS Group started coverage on Rockwell Automation in a report on Wednesday. They set a “neutral” rating and a $313.00 price objective for the company. 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.