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

Rockwell Automation, Inc. (NYSE:ROK) CEO Blake D. Moret sold 26,700 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $298.63, for a total transaction of $7,973,421.00. Following the sale, the chief executive officer now owns 78,115 shares in the company, valued at approximately $23,327,482.45. The trade was a 25.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Rockwell Automation Stock Down 0.9 %

Shares of ROK stock opened at $296.09 on Wednesday. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. 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 cap of $33.43 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 3.02 and a beta of 1.36. The firm’s 50-day moving average is $272.78 and its 200-day moving average is $267.48.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The business’s revenue was down 20.6% on a year-over-year basis. During the same period last year, the firm posted $3.64 earnings per share. Sell-side analysts predict that Rockwell Automation, Inc. will post 9.46 EPS for the current year.

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 given a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a yield of 1.77%. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, November 18th. Rockwell Automation’s payout ratio is 63.29%.

Rockwell Automation announced that its board has initiated a share repurchase program on Thursday, September 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have issued reports on ROK. BNP Paribas began coverage on Rockwell Automation in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 price target on the stock. Wells Fargo & Company boosted their target price on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Morgan Stanley upped their price target on Rockwell Automation from $320.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Bank of America lifted their price objective on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, TD Cowen reduced their target price on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $287.13.

Institutional Trading of Rockwell Automation

A number of hedge funds have recently modified their holdings of ROK. Pathway Financial Advisers LLC acquired a new stake in Rockwell Automation during the first quarter worth approximately $26,000. Richardson Financial Services Inc. increased its stake in shares of Rockwell Automation by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 48 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Rockwell Automation during the 3rd quarter worth approximately $26,000. Darwin Wealth Management LLC bought a new stake in Rockwell Automation in the 3rd quarter valued at $34,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Rockwell Automation in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

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.