Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP lowered its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 22.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 229,059 shares of the industrial products company's stock after selling 67,107 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.20% of Rockwell Automation worth $61,493,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ROK. Centaurus Financial Inc. grew its position in shares of Rockwell Automation by 1.3% in the third quarter. Centaurus Financial Inc. now owns 6,994 shares of the industrial products company's stock valued at $1,877,000 after purchasing an additional 91 shares during the period. Larson Financial Group LLC boosted its holdings in Rockwell Automation by 70.7% in the 3rd quarter. Larson Financial Group LLC now owns 601 shares of the industrial products company's stock worth $161,000 after buying an additional 249 shares during the last quarter. Sompo Asset Management Co. Ltd. increased its stake in Rockwell Automation by 8.8% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 33,753 shares of the industrial products company's stock worth $9,061,000 after buying an additional 2,736 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Rockwell Automation by 2.3% during the third quarter. Cerity Partners LLC now owns 30,626 shares of the industrial products company's stock valued at $8,222,000 after acquiring an additional 676 shares during the last quarter. Finally, 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 valued at $518,000 after acquiring an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company's stock.

Insider Activity at Rockwell Automation

In related news, SVP Cyril Perducat sold 1,000 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,630 shares of the company's stock, valued at $1,089,000. The trade was a 21.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Blake D. Moret sold 26,700 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $23,327,482.45. This trade represents a 25.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,746 shares of company stock worth $8,560,594. 0.68% of the stock is currently owned by company insiders.

Rockwell Automation Trading Up 2.7 %

Shares of NYSE:ROK traded up $7.98 during midday trading on Monday, reaching $298.84. 2,235,122 shares of the company's stock were exchanged, compared to its average volume of 895,555. The firm's 50 day simple moving average is $272.12 and its two-hundred day simple moving average is $267.32. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $312.76. 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 stock has a market cap of $33.74 billion, a price-to-earnings ratio of 36.09, a P/E/G ratio of 3.02 and a beta of 1.36.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 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 firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the business posted $3.64 EPS. The business's revenue for the quarter was down 20.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Rockwell Automation, Inc. will post 9.46 EPS for the current fiscal year.

Rockwell Automation announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Rockwell Automation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.31 dividend. The ex-dividend date of this dividend is Monday, November 18th. This is a boost 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 1.75%. Rockwell Automation's payout ratio is presently 63.29%.

Analyst Ratings Changes

Several analysts recently commented on ROK shares. 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. BNP Paribas began coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They set an "outperform" rating and a $345.00 price target on the stock. Morgan Stanley increased their price objective on shares of Rockwell Automation from $320.00 to $335.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Robert W. Baird boosted their target price on Rockwell Automation from $280.00 to $290.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. cut their price target on Rockwell Automation from $245.00 to $227.00 and set an "underweight" rating for the company in a report on Monday, August 12th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Rockwell Automation presently has a consensus rating of "Hold" and an average target price of $286.13.

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.