Orion Portfolio Solutions LLC Sells 776 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Orion Portfolio Solutions LLC reduced its position in Rockwell Automation, Inc. (NYSE:ROK) by 6.7% during the third quarter, HoldingsChannel reports. The firm owned 10,804 shares of the industrial products company’s stock after selling 776 shares during the period. Orion Portfolio Solutions LLC’s holdings in Rockwell Automation were worth $2,901,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Richardson Financial Services Inc. boosted its stake in shares of Rockwell Automation by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 48 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Rockwell Automation in the 3rd quarter valued at $26,000. Darwin Wealth Management LLC acquired a new position in shares of Rockwell Automation during the 3rd quarter valued at $34,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Rockwell Automation during the 2nd quarter valued at $36,000. Finally, Cultivar Capital Inc. acquired a new position in shares of Rockwell Automation during the 2nd quarter valued at $46,000. 75.75% of the stock is owned by institutional investors.

Rockwell Automation Stock Performance

Shares of ROK stock opened at $293.72 on Wednesday. The firm has a 50-day moving average of $278.28 and a 200-day moving average of $269.09. The company has a market cap of $33.16 billion, a P/E ratio of 35.47, a P/E/G ratio of 3.09 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 0.72. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $312.76.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.40 by $0.07. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The firm’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.64 earnings per share. Equities research analysts forecast that Rockwell Automation, Inc. will post 9.39 EPS for the current fiscal year.

Rockwell Automation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.31 per share. The ex-dividend date was Monday, November 18th. This represents a $5.24 annualized dividend and a yield of 1.78%. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s dividend payout ratio is presently 63.29%.

Rockwell Automation declared that its Board of Directors has authorized a share 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 buy up to 3.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

ROK has been the topic of a number of research reports. Oppenheimer boosted their target price on shares of Rockwell Automation from $288.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Bank of America boosted their target price on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Citigroup boosted their target price on shares of Rockwell Automation from $313.00 to $345.00 and gave the company a “buy” rating in a research report on Monday. BNP Paribas assumed coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They set an “outperform” rating and a $345.00 target price on the stock. Finally, UBS Group assumed coverage on shares of Rockwell Automation in a report on Wednesday, November 13th. They set a “neutral” rating and a $313.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Rockwell Automation currently has a consensus rating of “Hold” and an average price target of $294.75.

Insider Activity at Rockwell Automation

In related news, CEO Blake D. Moret sold 1,121 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $302.01, for a total transaction of $338,553.21. Following the completion of the transaction, the chief executive officer now owns 81,754 shares in the company, valued at approximately $24,690,525.54. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James P. Keane sold 2,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $296.00, for a total transaction of $592,000.00. Following the transaction, the director now owns 11,518 shares of the company’s stock, valued at approximately $3,409,328. The trade was a 14.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,541 shares of company stock worth $10,586,674. 0.68% of the stock is owned by company insiders.

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.