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 company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 78,115 shares of the company’s stock, valued at $23,327,482.45. The trade was a 25.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Rockwell Automation Stock Performance

Shares of NYSE ROK traded up $7.98 during mid-day trading on Monday, hitting $298.84. The company had a trading volume of 2,235,122 shares, compared to its average volume of 895,555. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76. The company has a market capitalization of $33.74 billion, a price-to-earnings ratio of 36.09, a P/E/G ratio of 3.02 and a beta of 1.36. The stock’s 50-day moving average price is $272.12 and its 200-day moving average price is $267.32.

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

Rockwell Automation Increases Dividend

The company 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 represents a $5.24 annualized dividend and a yield of 1.75%. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date is Monday, November 18th. Rockwell Automation’s dividend payout ratio (DPR) is presently 63.29%.

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

Institutional Investors Weigh In On Rockwell Automation

Large investors have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC purchased a new position in Rockwell Automation in the 1st quarter worth approximately $26,000. Richardson Financial Services Inc. grew its position in 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 acquiring an additional 48 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Rockwell Automation in the third quarter valued at $26,000. Darwin Wealth Management LLC purchased a new stake in Rockwell Automation during the third quarter valued at about $34,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Rockwell Automation during the second quarter worth about $36,000. Institutional investors own 75.75% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ROK. JPMorgan Chase & Co. reduced their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a report on Monday, August 12th. BNP Paribas assumed coverage on Rockwell Automation in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 price objective for the company. Barclays lifted their target price on Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Mizuho increased their price target on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, UBS Group began coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $286.13.

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.