Rockwell Automation (NYSE:ROK) CEO Blake D. Moret sold 5,584 shares of Rockwell Automation stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $175.97, for a total transaction of $982,616.48. Following the transaction, the chief executive officer now owns 41,196 shares in the company, valued at $7,249,260.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Rockwell Automation stock opened at $161.55 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.27. Rockwell Automation has a 12 month low of $153.67 and a 12 month high of $209.38. The firm has a market cap of $20.69 billion, a PE ratio of 19.92, a P/E/G ratio of 1.63 and a beta of 1.29.
Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $2.11 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the company posted $1.69 EPS. Rockwell Automation’s revenue was up 3.7% on a year-over-year basis. As a group, equities analysts expect that Rockwell Automation will post 9.03 earnings per share for the current fiscal year.
Rockwell Automation declared that its board has approved a stock repurchase plan on Thursday, September 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 4.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 12th will be issued a dividend of $0.97 per share. This is a boost from Rockwell Automation’s previous quarterly dividend of $0.92. This represents a $3.88 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, November 8th. Rockwell Automation’s payout ratio is currently 47.84%.
Several institutional investors have recently bought and sold shares of ROK. Alecta Pensionsforsakring Omsesidigt grew its holdings in shares of Rockwell Automation by 14.7% during the 3rd quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,728,265 shares of the industrial products company’s stock valued at $511,632,000 after acquiring an additional 350,000 shares in the last quarter. Credit Suisse AG grew its holdings in shares of Rockwell Automation by 44.7% during the 3rd quarter. Credit Suisse AG now owns 1,007,538 shares of the industrial products company’s stock valued at $188,933,000 after acquiring an additional 311,198 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new position in shares of Rockwell Automation during the 2nd quarter valued at $40,950,000. Bank of America Corp DE lifted its stake in shares of Rockwell Automation by 23.2% in the 2nd quarter. Bank of America Corp DE now owns 1,224,685 shares of the industrial products company’s stock valued at $203,581,000 after purchasing an additional 230,688 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Rockwell Automation by 10,038.0% in the 3rd quarter. Victory Capital Management Inc. now owns 195,968 shares of the industrial products company’s stock valued at $36,748,000 after purchasing an additional 194,035 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.
Several equities analysts have weighed in on ROK shares. Morgan Stanley started coverage on shares of Rockwell Automation in a research report on Tuesday, August 21st. They set an “underweight” rating and a $163.00 price objective on the stock. UBS Group lowered their price objective on shares of Rockwell Automation from $210.00 to $205.00 and set a “buy” rating on the stock in a research report on Thursday, August 30th. ValuEngine upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating in a research report on Friday, September 21st. Credit Suisse Group started coverage on shares of Rockwell Automation in a research report on Friday, October 12th. They set an “underperform” rating and a $171.00 price objective on the stock. Finally, Cowen cut shares of Rockwell Automation from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $175.00 to $150.00 in a research report on Monday, October 15th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. Rockwell Automation has an average rating of “Hold” and an average price target of $178.87.
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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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