Nwam LLC Sells 79 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Nwam LLC reduced its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 7.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,044 shares of the industrial products company’s stock after selling 79 shares during the quarter. Nwam LLC’s holdings in Rockwell Automation were worth $280,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Gladstone Institutional Advisory LLC raised its stake in shares of Rockwell Automation by 33.2% during the third quarter. Gladstone Institutional Advisory LLC now owns 1,377 shares of the industrial products company’s stock worth $370,000 after buying an additional 343 shares during the last quarter. Vicus Capital acquired a new stake in shares of Rockwell Automation during the third quarter worth $304,000. GSA Capital Partners LLP bought a new stake in Rockwell Automation in the third quarter valued at about $912,000. Comerica Bank increased its holdings in Rockwell Automation by 6.1% in the first quarter. Comerica Bank now owns 60,019 shares of the industrial products company’s stock valued at $17,485,000 after purchasing an additional 3,425 shares during the last quarter. Finally, Catalytic Wealth RIA LLC acquired a new position in Rockwell Automation in the third quarter valued at about $559,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, VP John M. Miller sold 467 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $284.07, for a total transaction of $132,660.69. Following the sale, the vice president now directly owns 4,800 shares of the company’s stock, valued at approximately $1,363,536. This represents a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $266.86, for a total transaction of $154,511.94. Following the completion of the transaction, the senior vice president now directly owns 4,576 shares of the company’s stock, valued at approximately $1,221,151.36. This trade represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,746 shares of company stock valued at $8,560,594. Insiders own 0.68% of the company’s stock.

Rockwell Automation Trading Up 2.7 %

NYSE:ROK opened at $298.84 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76. The company has a market cap of $33.74 billion, a P/E ratio of 36.09, a price-to-earnings-growth ratio of 3.02 and a beta of 1.36. The business has a 50 day moving average price of $272.12 and a two-hundred day moving average price of $267.32.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.40 by $0.07. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the company posted $3.64 earnings per share. The firm’s revenue was down 20.6% on a year-over-year basis. As a group, analysts expect that Rockwell Automation, Inc. will post 9.46 EPS for the current fiscal year.

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

Rockwell Automation Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 1.75%. The ex-dividend date is Monday, November 18th. 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%.

Analysts Set New Price Targets

A number of analysts recently weighed in on ROK shares. TD Cowen cut their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. BNP Paribas began coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They set an “outperform” rating and a $345.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Morgan Stanley raised their price objective on Rockwell Automation from $320.00 to $335.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, UBS Group initiated coverage on Rockwell Automation in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Rockwell Automation currently has a consensus rating of “Hold” and a consensus target price of $286.13.

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.