Peapack Gladstone Financial Corp Sells 2,230 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Peapack Gladstone Financial Corp decreased its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,309 shares of the industrial products company's stock after selling 2,230 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Rockwell Automation were worth $13,238,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Prospera Financial Services Inc raised its stake in Rockwell Automation by 0.9% in the 3rd quarter. Prospera Financial Services Inc now owns 4,033 shares of the industrial products company's stock worth $1,083,000 after purchasing an additional 37 shares in the last quarter. Great Valley Advisor Group Inc. raised its position in shares of Rockwell Automation by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 1,928 shares of the industrial products company's stock valued at $518,000 after buying an additional 42 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of Rockwell Automation by 4.7% in the second quarter. Concurrent Investment Advisors LLC now owns 990 shares of the industrial products company's stock valued at $272,000 after buying an additional 44 shares during the period. 9258 Wealth Management LLC boosted its stake in shares of Rockwell Automation by 3.1% in the second quarter. 9258 Wealth Management LLC now owns 1,501 shares of the industrial products company's stock valued at $413,000 after buying an additional 45 shares during the period. Finally, Second Line Capital LLC grew its position in Rockwell Automation by 5.1% during the second quarter. Second Line Capital LLC now owns 963 shares of the industrial products company's stock worth $265,000 after buying an additional 47 shares in the last quarter. Institutional investors own 75.75% of the company's stock.

Insider Buying and Selling 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 value of $154,511.94. Following the transaction, the senior vice president now directly owns 4,576 shares of the company's stock, valued at $1,221,151.36. The trade was a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John M. Miller sold 467 shares of the stock in a transaction that occurred 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 $1,363,536. This represents a 8.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,541 shares of company stock worth $10,586,674. 0.68% of the stock is currently owned by company insiders.

Rockwell Automation Price Performance

Shares of ROK traded down $5.72 during trading hours on Friday, reaching $297.20. The stock had a trading volume of 1,307,839 shares, compared to its average volume of 893,183. 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, Inc. has a 12 month low of $242.81 and a 12 month high of $312.76. The stock has a market capitalization of $33.55 billion, a PE ratio of 35.89, a PEG ratio of 3.11 and a beta of 1.36. The company's 50-day moving average is $280.84 and its two-hundred day moving average is $269.96.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its 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 firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The business's quarterly revenue was down 20.6% on a year-over-year basis. During the same period last year, the company earned $3.64 earnings per share. Research analysts expect that Rockwell Automation, Inc. will post 9.38 EPS for the current year.

Rockwell Automation announced that its Board of Directors has authorized a share buyback program on Thursday, September 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

Rockwell Automation Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a yield of 1.76%. This is a positive change from Rockwell Automation's previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, November 18th. Rockwell Automation's payout ratio is presently 63.29%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Morgan Stanley upped their target price on Rockwell Automation from $320.00 to $335.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Citigroup upped their price objective on shares of Rockwell Automation from $313.00 to $345.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Bank of America raised their target price on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. BNP Paribas initiated coverage on shares of Rockwell Automation in a report on Wednesday, November 13th. They set an "outperform" rating and a $345.00 price target for the company. Finally, Mizuho lifted their price objective on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $301.17.

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.