Thrivent Financial for Lutherans Sells 18,140 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Thrivent Financial for Lutherans lessened its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 408,433 shares of the industrial products company's stock after selling 18,140 shares during the period. Thrivent Financial for Lutherans owned approximately 0.36% of Rockwell Automation worth $109,648,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ROK. Gladstone Institutional Advisory LLC raised its position in Rockwell Automation by 33.2% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 1,377 shares of the industrial products company's stock valued at $370,000 after buying an additional 343 shares during the last quarter. Vicus Capital acquired a new position in shares of Rockwell Automation during the 3rd quarter worth approximately $304,000. Comerica Bank increased its position in shares of Rockwell Automation by 6.1% during the 1st quarter. Comerica Bank now owns 60,019 shares of the industrial products company's stock worth $17,485,000 after purchasing an additional 3,425 shares during the last quarter. Magnetar Financial LLC acquired a new position in shares of Rockwell Automation during the 1st quarter worth approximately $2,817,000. Finally, Advisors Asset Management Inc. increased its position in shares of Rockwell Automation by 16.1% during the 1st quarter. Advisors Asset Management Inc. now owns 27,924 shares of the industrial products company's stock worth $8,135,000 after purchasing an additional 3,864 shares during the last quarter. Institutional investors own 75.75% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ROK. Mizuho boosted their price target on Rockwell Automation from $245.00 to $270.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Morgan Stanley boosted their price target on Rockwell Automation from $320.00 to $335.00 and gave the stock an "overweight" rating in a research report on Friday. TD Cowen reduced their target price on Rockwell Automation from $220.00 to $215.00 and set a "sell" rating for the company in a research note on Thursday, August 8th. Robert W. Baird lifted their target price on Rockwell Automation from $280.00 to $290.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Finally, Wells Fargo & Company lifted their target price on Rockwell Automation from $293.00 to $305.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $286.13.

Insider Transactions at Rockwell Automation

In related news, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction 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 completion of the sale, the senior vice president now owns 4,576 shares of the company's stock, valued at approximately $1,221,151.36. This trade represents a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.68% of the company's stock.

Rockwell Automation Stock Performance

NYSE:ROK traded down $1.70 during trading hours on Monday, reaching $283.13. The stock had a trading volume of 950,848 shares, compared to its average volume of 884,195. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.17 and a current ratio of 1.08. The stock has a 50 day simple moving average of $269.16 and a 200 day simple moving average of $266.82. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76. The stock has a market cap of $31.97 billion, a P/E ratio of 34.32, a price-to-earnings-growth ratio of 2.95 and a beta of 1.36.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period last year, the company earned $3.64 earnings per share. The business's revenue for the quarter was down 20.6% on a year-over-year basis. On average, research analysts forecast that Rockwell Automation, Inc. will post 9.54 EPS for the current fiscal year.

Rockwell Automation Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.31 dividend. This is a positive change from Rockwell Automation's previous quarterly dividend of $1.25. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Monday, November 18th. Rockwell Automation's dividend payout ratio (DPR) is presently 60.39%.

Rockwell Automation announced that its board has initiated a stock buyback plan on Thursday, September 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 3.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Rockwell Automation 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.