AdvisorNet Financial Inc Lowers Holdings in Rockwell Automation, Inc. (NYSE:ROK)

AdvisorNet Financial Inc reduced its position in shares of Rockwell Automation, Inc. (NYSE:ROKFree Report) by 21.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 891 shares of the industrial products company’s stock after selling 247 shares during the period. AdvisorNet Financial Inc’s holdings in Rockwell Automation were worth $255,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ROK. Ashton Thomas Securities LLC purchased a new position in Rockwell Automation during the third quarter worth about $26,000. Richardson Financial Services Inc. grew its holdings in shares of Rockwell Automation by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 48 shares in the last quarter. West Oak Capital LLC increased its position in shares of Rockwell Automation by 455.6% in the fourth quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 82 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in Rockwell Automation in the third quarter valued at approximately $34,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Rockwell Automation during the second quarter valued at approximately $36,000. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Up 1.8 %

Shares of NYSE:ROK opened at $281.02 on Friday. The stock’s 50-day moving average is $287.50 and its 200 day moving average is $274.05. The company has a market cap of $31.76 billion, a PE ratio of 33.94, a P/E/G ratio of 2.87 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. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $307.71.

Rockwell Automation (NYSE:ROKGet Free Report) last announced its earnings results 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 firm’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.64 earnings per share. Sell-side analysts anticipate that Rockwell Automation, Inc. will post 9.37 EPS for the current year.

Rockwell Automation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.31 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.86%. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s payout ratio is currently 63.29%.

Insider Buying and Selling

In related news, VP Isaac Woods sold 895 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $274.72, for a total value of $245,874.40. Following the sale, the vice president now directly owns 1,198 shares of the company’s stock, valued at $329,114.56. This represents a 42.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Blake D. Moret sold 1,121 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $302.01, for a total value of $338,553.21. Following the transaction, the chief executive officer now directly owns 81,754 shares of the company’s stock, valued at $24,690,525.54. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,436 shares of company stock valued at $10,832,549 over the last three months. Corporate insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. KeyCorp upgraded shares of Rockwell Automation from a “sector weight” rating to an “overweight” rating and set a $345.00 price objective on the stock in a research report on Monday, December 9th. UBS Group began coverage on Rockwell Automation in a research report on Wednesday, November 13th. They set a “neutral” rating and a $313.00 price target on the stock. BNP Paribas started coverage on Rockwell Automation in a report on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 price objective for the company. Citigroup raised their price objective on Rockwell Automation from $313.00 to $345.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Wells Fargo & Company upped 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $304.16.

Get Our Latest Stock Analysis on Rockwell Automation

About Rockwell Automation

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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