Rockwell Automation, Inc. (NYSE:ROK) Shares Acquired by Huntington National Bank

Huntington National Bank increased its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 214,999 shares of the industrial products company's stock after acquiring an additional 4,563 shares during the quarter. Huntington National Bank owned about 0.19% of Rockwell Automation worth $57,719,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Gladstone Institutional Advisory LLC lifted its holdings in shares of Rockwell Automation by 33.2% during the 3rd 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 last quarter. Vicus Capital acquired a new stake in Rockwell Automation in the third quarter worth about $304,000. Comerica Bank grew its stake in shares of Rockwell Automation by 6.1% during the first quarter. Comerica Bank now owns 60,019 shares of the industrial products company's stock worth $17,485,000 after acquiring an additional 3,425 shares during the last quarter. Magnetar Financial LLC acquired a new position in shares of Rockwell Automation during the first quarter valued at about $2,817,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of Rockwell Automation by 16.1% during the first quarter. Advisors Asset Management Inc. now owns 27,924 shares of the industrial products company's stock valued at $8,135,000 after acquiring an additional 3,864 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company's stock.

Insider Transactions at Rockwell Automation

In related news, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $266.86, for a total transaction of $154,511.94. Following the transaction, the senior vice president now 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 filing with the SEC, which can be accessed through this link. Insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

ROK has been the topic of several research analyst reports. Robert W. Baird boosted their target price on shares of Rockwell Automation from $280.00 to $290.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. BNP Paribas assumed coverage on Rockwell Automation in a research report on Wednesday. They issued an "outperform" rating and a $345.00 target price on the stock. TD Cowen lowered their price target on Rockwell Automation from $220.00 to $215.00 and set a "sell" rating for the company in a research report on Thursday, August 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. Finally, Barclays lifted their target price on Rockwell Automation from $245.00 to $255.00 and gave the stock an "underweight" rating in a report on Friday, November 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $285.13.

Rockwell Automation Price Performance

ROK traded up $0.98 during midday trading on Thursday, hitting $287.55. 616,677 shares of the company traded hands, compared to its average volume of 879,549. The business has a 50 day simple moving average of $267.96 and a two-hundred day simple moving average of $266.69. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The company has a market capitalization of $32.63 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 2.86 and a beta of 1.36. The company has a current ratio of 1.84, a quick ratio of 1.17 and a debt-to-equity ratio of 0.70.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (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 for the quarter, compared to analysts' expectations of $2.06 billion. During the same period in the previous year, the firm posted $3.64 EPS. Rockwell Automation's revenue was down 20.6% compared to the same quarter last year. On average, equities analysts forecast that Rockwell Automation, Inc. will post 9.54 earnings per share for the current fiscal year.

Rockwell Automation declared that its board has approved a share repurchase program on Thursday, September 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are usually a sign 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 $1.31 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.82%. This is a positive change from Rockwell Automation's previous quarterly dividend of $1.25. Rockwell Automation's dividend payout ratio (DPR) is presently 60.39%.

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.