Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Equitable Trust Co.

Equitable Trust Co. lessened its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 23.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,038 shares of the industrial products company's stock after selling 11,214 shares during the quarter. Equitable Trust Co.'s holdings in Rockwell Automation were worth $9,675,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ROK. Price T Rowe Associates Inc. MD boosted its position in shares of Rockwell Automation by 951.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company's stock valued at $1,611,915,000 after acquiring an additional 5,006,706 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Rockwell Automation by 29,591.7% in the 3rd quarter. International Assets Investment Management LLC now owns 936,178 shares of the industrial products company's stock valued at $251,326,000 after buying an additional 933,025 shares during the period. Van ECK Associates Corp grew its stake in shares of Rockwell Automation by 1,119.3% in the 2nd quarter. Van ECK Associates Corp now owns 763,351 shares of the industrial products company's stock valued at $210,135,000 after buying an additional 700,745 shares during the period. Vanguard Group Inc. increased its holdings in shares of Rockwell Automation by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 14,048,986 shares of the industrial products company's stock worth $4,092,891,000 after buying an additional 438,356 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Rockwell Automation during the 1st quarter valued at approximately $118,345,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Rockwell Automation

In other news, SVP Veena M. Lakkundi sold 579 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $266.86, for a total transaction of $154,511.94. Following the transaction, the senior vice president now directly owns 4,576 shares in the company, valued at approximately $1,221,151.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.68% of the company's stock.

Rockwell Automation Stock Down 1.8 %

NYSE ROK traded down $4.95 on Friday, hitting $272.14. 1,067,395 shares of the stock were exchanged, compared to its average volume of 625,232. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $312.76. The company has a 50-day moving average price of $266.92 and a 200-day moving average price of $266.69. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The company has a market cap of $30.88 billion, a PE ratio of 30.93, a PEG ratio of 5.12 and a beta of 1.36.

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, beating the consensus estimate of $2.40 by $0.07. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The firm's revenue was down 20.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.64 earnings per share. Sell-side analysts anticipate that Rockwell Automation, Inc. will post 9.65 EPS for the current fiscal year.

Rockwell Automation announced that its board has approved a stock buyback plan on Thursday, September 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Rockwell Automation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.31 per share. This is a positive change from Rockwell Automation's previous quarterly dividend of $1.25. The ex-dividend date is Monday, November 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.93%. Rockwell Automation's dividend payout ratio (DPR) is presently 56.82%.

Analyst Ratings Changes

Several equities research analysts have issued reports on ROK shares. JPMorgan Chase & Co. cut their target price on Rockwell Automation from $245.00 to $227.00 and set an "underweight" rating for the company in a research note on Monday, August 12th. Robert W. Baird boosted their price objective on shares of Rockwell Automation from $280.00 to $290.00 and gave the company an "outperform" rating in a report on Friday. Morgan Stanley began coverage on shares of Rockwell Automation in a research note on Friday, September 6th. They set an "overweight" rating and a $320.00 target price for the company. Mizuho lifted 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, TD Cowen decreased their price objective on shares of Rockwell Automation from $220.00 to $215.00 and set a "sell" rating on the stock in a report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $284.21.

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.