Rockwell Automation, Inc. (NYSE:ROK) VP John M. Miller Sells 1,200 Shares of Stock

Rockwell Automation, Inc. (NYSE:ROKGet Rating) VP John M. Miller sold 1,200 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $253.10, for a total transaction of $303,720.00. Following the transaction, the vice president now owns 4,508 shares in the company, valued at approximately $1,140,974.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Rockwell Automation Trading Down 1.1 %

NYSE:ROK opened at $252.57 on Tuesday. The company’s 50 day moving average price is $209.00 and its 200-day moving average price is $244.52. Rockwell Automation, Inc. has a 52 week low of $190.08 and a 52 week high of $354.99. The company has a quick ratio of 0.76, a current ratio of 1.06 and a debt-to-equity ratio of 1.29. The stock has a market cap of $29.36 billion, a price-to-earnings ratio of 44.08, a PEG ratio of 2.71 and a beta of 1.47.

Rockwell Automation (NYSE:ROKGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The industrial products company reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.33. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.98 billion. Rockwell Automation had a net margin of 9.03% and a return on equity of 37.06%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.31 earnings per share. On average, equities research analysts forecast that Rockwell Automation, Inc. will post 9.39 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Monday, August 15th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Friday, August 12th. This represents a $4.48 dividend on an annualized basis and a yield of 1.77%. Rockwell Automation’s dividend payout ratio (DPR) is 78.18%.

Rockwell Automation declared that its Board of Directors has authorized a share buyback plan on Tuesday, May 3rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors raised its position in Rockwell Automation by 35.2% in the fourth quarter. Capital World Investors now owns 4,892,850 shares of the industrial products company’s stock worth $1,706,871,000 after acquiring an additional 1,272,634 shares during the period. Norges Bank bought a new position in Rockwell Automation in the fourth quarter worth approximately $387,237,000. Harding Loevner LP raised its position in Rockwell Automation by 1,612,383.6% in the first quarter. Harding Loevner LP now owns 886,866 shares of the industrial products company’s stock worth $180,229,000 after acquiring an additional 886,811 shares during the period. Ceredex Value Advisors LLC bought a new position in Rockwell Automation in the first quarter worth approximately $120,251,000. Finally, Ninety One UK Ltd raised its position in Rockwell Automation by 74.9% in the first quarter. Ninety One UK Ltd now owns 860,465 shares of the industrial products company’s stock worth $240,956,000 after acquiring an additional 368,508 shares during the period. Institutional investors own 78.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ROK. Wells Fargo & Company boosted their price target on shares of Rockwell Automation from $189.00 to $213.00 and gave the company a “maintains” rating in a research report on Thursday, July 28th. Citigroup boosted their price target on shares of Rockwell Automation from $259.00 to $274.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. HSBC cut their price objective on shares of Rockwell Automation from $293.00 to $240.00 in a report on Tuesday, May 10th. Oppenheimer cut their price objective on shares of Rockwell Automation from $360.00 to $290.00 in a report on Wednesday, May 4th. Finally, UBS Group cut their price objective on shares of Rockwell Automation to $205.00 in a report on Wednesday, May 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $254.65.

About Rockwell Automation

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Rockwell Automation, Inc provides industrial automation and digital transformation solutions in the United States and internationally. The company operates in three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products, and services.

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