Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 441,948 shares of the industrial products company's stock after selling 18,430 shares during the period. King Luther Capital Management Corp owned about 0.39% of Rockwell Automation worth $118,645,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cornerstone Advisors LLC grew its holdings in Rockwell Automation by 4.3% in the third quarter. Cornerstone Advisors LLC now owns 7,200 shares of the industrial products company's stock valued at $1,933,000 after purchasing an additional 300 shares during the period. Moran Wealth Management LLC lifted its position in Rockwell Automation by 2.1% during the third quarter. Moran Wealth Management LLC now owns 2,342 shares of the industrial products company's stock worth $629,000 after buying an additional 48 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in Rockwell Automation during the third quarter worth approximately $34,000. Grandfield & Dodd LLC lifted its position in Rockwell Automation by 17.2% during the third quarter. Grandfield & Dodd LLC now owns 42,810 shares of the industrial products company's stock worth $11,493,000 after buying an additional 6,281 shares in the last quarter. Finally, Nuance Investments LLC purchased a new stake in Rockwell Automation in the third quarter valued at $8,773,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP John M. Miller sold 467 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $284.07, for a total transaction of $132,660.69. Following the completion of the transaction, the vice president now directly owns 4,800 shares of the company's stock, valued at approximately $1,363,536. This trade represents a 8.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Veena M. Lakkundi sold 579 shares of the firm's stock in a transaction dated 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 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 disclosure for this sale can be found here. Company insiders own 0.68% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on ROK. TD Cowen reduced their target price on Rockwell Automation from $220.00 to $215.00 and set a "sell" rating on the stock in a research report on Thursday, August 8th. Oppenheimer boosted their price objective on Rockwell Automation from $288.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Bank of America lifted their price objective on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. BNP Paribas assumed coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They set an "outperform" rating and a $345.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of Rockwell Automation from $245.00 to $227.00 and set an "underweight" rating for the company in a report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Rockwell Automation currently has an average rating of "Hold" and a consensus target price of $286.13.

Rockwell Automation Stock Up 0.7 %

ROK stock opened at $280.08 on Thursday. The firm has a market capitalization of $31.62 billion, a P/E ratio of 33.83, a P/E/G ratio of 2.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 0.72. The company's 50 day simple moving average is $270.42 and its 200-day simple moving average is $267.03. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76.

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 net margin of 11.53% and a return on equity of 30.42%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the firm earned $3.64 EPS. Rockwell Automation's quarterly revenue was down 20.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Rockwell Automation, Inc. will post 9.46 EPS for the current year.

Rockwell Automation declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Rockwell Automation Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $1.31 dividend. This represents a $5.24 annualized dividend and a yield of 1.87%. This is a positive change from Rockwell Automation's previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, November 18th. Rockwell Automation's dividend payout ratio (DPR) is currently 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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