Rockwell Automation, Inc. (NYSE:ROK) Sees Large Increase in Short Interest

Rockwell Automation, Inc. (NYSE:ROK - Get Free Report) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 3,110,000 shares, an increase of 50.2% from the October 31st total of 2,070,000 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average daily volume of 782,500 shares, the short-interest ratio is presently 4.0 days.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Robert W. Baird raised their price target on shares of Rockwell Automation from $290.00 to $305.00 and gave the company an "outperform" rating in a research note on Tuesday. UBS Group started coverage on Rockwell Automation in a research report on Wednesday, November 13th. They issued a "neutral" rating and a $313.00 target price on the stock. Oppenheimer boosted their price target on Rockwell Automation from $288.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Mizuho increased their price target on Rockwell Automation from $245.00 to $270.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Finally, TD Cowen cut their price objective on shares of Rockwell Automation from $220.00 to $215.00 and set a "sell" rating on the stock in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Rockwell Automation has an average rating of "Hold" and an average price target of $287.13.

Insider Buying and Selling at Rockwell Automation

In related news, CEO Blake D. Moret sold 26,700 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $298.63, for a total value of $7,973,421.00. Following the sale, the chief executive officer now owns 78,115 shares of the company's stock, valued at approximately $23,327,482.45. This trade represents a 25.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James P. Keane sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $296.00, for a total value of $592,000.00. Following the transaction, the director now owns 11,518 shares of the company's stock, valued at $3,409,328. This represents a 14.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,746 shares of company stock worth $9,152,594 over the last 90 days. Insiders own 0.68% of the company's stock.

Hedge Funds Weigh In On Rockwell Automation

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROK. Prospera Financial Services Inc boosted its position in shares of Rockwell Automation by 0.9% in 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. grew its stake in Rockwell Automation by 5.9% during the 2nd quarter. Mather Group LLC. now owns 680 shares of the industrial products company's stock valued at $198,000 after acquiring an additional 38 shares in the last quarter. Pure Financial Advisors LLC increased its holdings in shares of Rockwell Automation by 2.7% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company's stock valued at $444,000 after purchasing an additional 42 shares during the period. Great Valley Advisor Group Inc. lifted 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 worth $518,000 after purchasing an additional 42 shares in the last quarter. Finally, Hancock Whitney Corp boosted its holdings in shares of Rockwell Automation by 2.5% during the first quarter. Hancock Whitney Corp now owns 1,805 shares of the industrial products company's stock worth $526,000 after purchasing an additional 44 shares during the period. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Rockwell Automation Price Performance

Shares of NYSE ROK traded up $0.19 during midday trading on Friday, reaching $295.14. The company's stock had a trading volume of 395,526 shares, compared to its average volume of 893,438. Rockwell Automation has a one year low of $242.81 and a one year high of $312.76. The company has a market cap of $33.32 billion, a price-to-earnings ratio of 35.64, a price-to-earnings-growth ratio of 3.07 and a beta of 1.36. The company has a 50 day moving average price of $274.63 and a 200 day moving average price of $268.05. 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 announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.07. The company 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 company's quarterly revenue was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.64 EPS. On average, equities research analysts expect that Rockwell Automation will post 9.44 EPS for the current year.

Rockwell Automation declared that its board has approved a share repurchase program on Thursday, September 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board 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. Stockholders of record on Monday, November 18th will be given a $1.31 dividend. 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 1.78%. The ex-dividend date is Monday, November 18th. Rockwell Automation's dividend payout ratio (DPR) is 63.29%.

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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