Brophy Wealth Management LLC Buys New Position in Rockwell Automation, Inc. (NYSE:ROK)

Brophy Wealth Management LLC purchased a new position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,403 shares of the industrial products company's stock, valued at approximately $645,000.

A number of other large investors also recently modified their holdings of ROK. Resources Management Corp CT ADV boosted its stake in shares of Rockwell Automation by 511.2% during the third quarter. Resources Management Corp CT ADV now owns 1,528 shares of the industrial products company's stock valued at $410,000 after purchasing an additional 1,278 shares in the last quarter. LRI Investments LLC boosted its position in Rockwell Automation by 4,197.9% during the 3rd quarter. LRI Investments LLC now owns 2,020 shares of the industrial products company's stock worth $579,000 after buying an additional 1,973 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Rockwell Automation by 6.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 34,209 shares of the industrial products company's stock worth $9,184,000 after acquiring an additional 1,928 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in Rockwell Automation by 141.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 8,526 shares of the industrial products company's stock valued at $2,289,000 after acquiring an additional 5,002 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Rockwell Automation during the third quarter worth $1,134,000. 75.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on ROK. JPMorgan Chase & Co. cut their target price on Rockwell Automation from $245.00 to $227.00 and set an "underweight" rating on the stock in a report on Monday, August 12th. Robert W. Baird increased their target price on shares of Rockwell Automation from $290.00 to $305.00 and gave the company an "outperform" rating in a research report on Tuesday, November 26th. 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 target on the stock. Barclays raised shares of Rockwell Automation from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $255.00 to $290.00 in a research note on Thursday, December 5th. Finally, Wells Fargo & Company increased their price target on Rockwell Automation from $293.00 to $305.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $294.75.

Rockwell Automation Price Performance

Shares of NYSE ROK traded down $2.21 during midday trading on Tuesday, hitting $296.51. 359,789 shares of the company's stock were exchanged, compared to its average volume of 887,527. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The business's fifty day moving average price is $278.28 and its two-hundred day moving average price is $269.09. The company has a market cap of $33.48 billion, a price-to-earnings ratio of 35.86, a PEG ratio of 3.09 and a beta of 1.36. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.07. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the firm earned $3.64 EPS. The business's revenue for the quarter was down 20.6% compared to the same quarter last year. As a group, research analysts forecast that Rockwell Automation, Inc. will post 9.39 EPS for the current fiscal year.

Rockwell Automation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a $1.31 dividend. The ex-dividend date is Monday, November 18th. This represents a $5.24 annualized dividend and a yield of 1.77%. This is a positive change from Rockwell Automation's previous quarterly dividend of $1.25. Rockwell Automation's dividend payout ratio is currently 63.29%.

Rockwell Automation announced that its Board of Directors has initiated a stock buyback program on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes 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 management believes its stock is undervalued.

Insider Buying and Selling at Rockwell Automation

In other news, SVP Cyril Perducat sold 1,000 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,630 shares of the company's stock, valued at approximately $1,089,000. This represents a 21.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Veena M. Lakkundi sold 579 shares of the company'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 transaction, the senior vice president now owns 4,576 shares in the company, valued at $1,221,151.36. This trade represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,070 shares of company stock worth $10,142,408 over the last ninety days. Insiders own 0.68% of the company's stock.

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.