Rockwell Automation, Inc. (NYSE:ROK) CEO Blake D. Moret Sells 1,741 Shares

Rockwell Automation, Inc. (NYSE:ROK - Get Free Report) CEO Blake D. Moret sold 1,741 shares of the firm's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $296.67, for a total value of $516,502.47. Following the completion of the sale, the chief executive officer now directly owns 80,309 shares of the company's stock, valued at $23,825,271.03. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Rockwell Automation Price Performance

Shares of NYSE:ROK traded down $1.72 on Friday, hitting $295.38. The company had a trading volume of 652,495 shares, compared to its average volume of 889,858. The company has a market cap of $33.35 billion, a PE ratio of 35.67, a PEG ratio of 3.03 and a beta of 1.36. The business has a 50 day moving average of $277.18 and a 200 day moving average of $268.69. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The firm's revenue for the quarter was down 20.6% compared to the same quarter last year. During the same period last year, the company earned $3.64 EPS. As a group, equities analysts anticipate that Rockwell Automation, Inc. will post 9.44 earnings per share for the current fiscal year.

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

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. This is a boost from Rockwell Automation's previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Monday, November 18th. Rockwell Automation's payout ratio is presently 63.29%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company raised their target price on Rockwell Automation from $293.00 to $305.00 and gave the company an "overweight" rating in a report on Monday, October 7th. BNP Paribas assumed coverage on shares of Rockwell Automation in a report on Wednesday, November 13th. They set an "outperform" rating and a $345.00 price objective on the stock. Bank of America upped their target price on shares of Rockwell Automation from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. 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, Morgan Stanley upped their price target on Rockwell Automation from $320.00 to $335.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $289.47.

Institutional Investors Weigh In On Rockwell Automation

Several hedge funds have recently made changes to their positions in the business. Prospera Financial Services Inc lifted its position in Rockwell Automation by 0.9% during the third quarter. Prospera Financial Services Inc now owns 4,033 shares of the industrial products company's stock worth $1,083,000 after buying an additional 37 shares during the period. Mather Group LLC. lifted its holdings in shares of Rockwell Automation by 5.9% during the 2nd quarter. Mather Group LLC. now owns 680 shares of the industrial products company's stock worth $198,000 after acquiring an additional 38 shares during the period. Pure Financial Advisors LLC boosted its position in shares of Rockwell Automation by 2.7% in the second quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company's stock worth $444,000 after acquiring an additional 42 shares during the last quarter. Great Valley Advisor Group Inc. grew its holdings in 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 purchasing an additional 42 shares during the period. Finally, Concurrent Investment Advisors LLC increased its position in Rockwell Automation by 4.7% during the second quarter. Concurrent Investment Advisors LLC now owns 990 shares of the industrial products company's stock worth $272,000 after purchasing an additional 44 shares during the last quarter. Institutional investors and hedge funds own 75.75% of the company's stock.

Rockwell Automation Company Profile

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.

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