Commerce Bank Sells 17,185 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Commerce Bank lessened its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 23.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 55,298 shares of the industrial products company's stock after selling 17,185 shares during the quarter. Commerce Bank's holdings in Rockwell Automation were worth $14,845,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Gladstone Institutional Advisory LLC boosted its holdings in Rockwell Automation by 33.2% in the third quarter. Gladstone Institutional Advisory LLC now owns 1,377 shares of the industrial products company's stock valued at $370,000 after purchasing an additional 343 shares during the period. Vicus Capital acquired a new position in shares of Rockwell Automation during the third quarter worth about $304,000. Comerica Bank raised 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 acquiring an additional 3,425 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Rockwell Automation in the third quarter worth approximately $912,000. Finally, Magnetar Financial LLC acquired a new position in Rockwell Automation during the 1st quarter worth approximately $2,817,000. Institutional investors and hedge funds own 75.75% of the company's stock.

Insider Transactions at Rockwell Automation

In related news, VP John M. Miller sold 467 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $284.07, for a total value of $132,660.69. Following the sale, the vice president now owns 4,800 shares of the company's stock, valued at approximately $1,363,536. This trade represents a 8.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Veena M. Lakkundi sold 579 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 4,576 shares of the company's stock, valued at approximately $1,221,151.36. The trade was a 11.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company's stock.

Rockwell Automation Price Performance

ROK opened at $280.08 on Thursday. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76. The company's 50 day simple moving average is $270.42 and its 200 day simple moving average is $267.03. The stock has a market capitalization of $31.62 billion, a PE ratio of 33.83, a P/E/G ratio of 2.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly 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 return on equity of 30.42% and a net margin of 11.53%. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the firm posted $3.64 earnings per share. The firm's revenue was down 20.6% on a year-over-year basis. As a group, sell-side analysts expect that Rockwell Automation, Inc. will post 9.46 EPS for the current year.

Rockwell Automation announced that its board has approved a share repurchase plan on Thursday, September 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Rockwell Automation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.31 per share. The ex-dividend date of this dividend is Monday, November 18th. This is an increase from Rockwell Automation's previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a dividend yield of 1.87%. Rockwell Automation's dividend payout ratio (DPR) is currently 63.29%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ROK. Barclays lifted their price objective on shares of Rockwell Automation from $245.00 to $255.00 and gave the stock an "underweight" rating in a research report on Friday, November 8th. Bank of America increased their price objective on Rockwell Automation from $270.00 to $285.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. BNP Paribas assumed coverage on Rockwell Automation in a research note on Wednesday, November 13th. They set an "outperform" rating and a $345.00 target price for the company. JPMorgan Chase & Co. cut their price objective on shares of Rockwell Automation from $245.00 to $227.00 and set an "underweight" rating on the stock in a report on Monday, August 12th. Finally, Morgan Stanley boosted their price objective on shares of Rockwell Automation from $320.00 to $335.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.