Broderick Brian C Purchases 109 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Broderick Brian C raised its position in Rockwell Automation, Inc. (NYSE:ROK) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,523 shares of the industrial products company’s stock after purchasing an additional 109 shares during the quarter. Rockwell Automation accounts for approximately 2.3% of Broderick Brian C’s holdings, making the stock its 21st largest holding. Broderick Brian C’s holdings in Rockwell Automation were worth $11,684,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Pathway Financial Advisers LLC bought a new stake in Rockwell Automation in the 1st quarter valued at approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Rockwell Automation in the third quarter valued at approximately $26,000. Richardson Financial Services Inc. lifted its position in shares of Rockwell Automation by 100.0% in 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 in the last quarter. ESL Trust Services LLC acquired a new position in Rockwell Automation during the first quarter worth $29,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Rockwell Automation in the second quarter valued at $36,000. 75.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ROK. JPMorgan Chase & Co. reduced their price objective on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Morgan Stanley initiated coverage on Rockwell Automation in a research report on Friday, September 6th. They set an “overweight” rating and a $320.00 price target for the company. Wells Fargo & Company raised their price target on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. UBS Group assumed coverage on Rockwell Automation in a research note on Wednesday. They set a “neutral” rating and a $313.00 price objective on the stock. Finally, TD Cowen decreased their target price on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $285.13.

Insider Activity

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 sale, the senior vice president now directly owns 4,576 shares in the company, valued at approximately $1,221,151.36. The trade was a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.68% of the stock is currently owned by company insiders.

Rockwell Automation Stock Down 0.0 %

Rockwell Automation stock opened at $286.43 on Friday. The company’s 50-day moving average price is $267.96 and its two-hundred day moving average price is $266.69. The company has a quick ratio of 1.17, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. The stock has a market cap of $32.34 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.98 and a beta of 1.36. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76.

Rockwell Automation (NYSE:ROK) last announced its 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. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The firm’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.64 earnings per share. As a group, analysts expect that Rockwell Automation, Inc. will post 9.46 EPS for the current year.

Rockwell Automation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.31 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.83%. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s dividend payout ratio (DPR) is currently 60.39%.

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

Rockwell Automation Company Profile

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.