Dillon & Associates Inc. Cuts Stake in Rockwell Automation, Inc. (NYSE:ROK)

Dillon & Associates Inc. reduced its stake in Rockwell Automation, Inc. (NYSE:ROK) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,525 shares of the industrial products company’s stock after selling 310 shares during the period. Dillon & Associates Inc.’s holdings in Rockwell Automation were worth $2,285,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ROK. CreativeOne Wealth LLC raised its position in Rockwell Automation by 3.0% in the 1st quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock worth $372,000 after purchasing an additional 37 shares during the period. Mather Group LLC. lifted its stake in shares of Rockwell Automation by 5.9% during the 2nd quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock worth $198,000 after acquiring an additional 38 shares during the last quarter. Pure Financial Advisors LLC boosted its holdings in Rockwell Automation by 2.7% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock valued at $444,000 after acquiring an additional 42 shares during the period. Pitcairn Co. increased its stake in Rockwell Automation by 4.2% in the first quarter. Pitcairn Co. now owns 1,096 shares of the industrial products company’s stock worth $319,000 after purchasing an additional 44 shares during the period. Finally, Hancock Whitney Corp lifted its position in shares of Rockwell Automation by 2.5% during the first quarter. Hancock Whitney Corp now owns 1,805 shares of the industrial products company’s stock worth $526,000 after purchasing an additional 44 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ROK shares. Morgan Stanley started coverage on shares of Rockwell Automation in a research note on Friday, September 6th. They issued an “overweight” rating and a $320.00 target price on the stock. Bank of America boosted their price target on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Barclays increased their price objective on shares of Rockwell Automation from $245.00 to $255.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. Robert W. Baird raised their price target on Rockwell Automation from $280.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Oppenheimer raised their price target on shares of Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $284.21.

Insider Buying and Selling

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $266.86, for a total value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.68% of the stock is owned by company insiders.

Rockwell Automation Price Performance

Shares of Rockwell Automation stock opened at $277.88 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.84 and a debt-to-equity ratio of 0.70. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76. The business has a 50-day moving average price of $267.03 and a 200 day moving average price of $266.57. The firm has a market cap of $31.53 billion, a PE ratio of 33.56, a P/E/G ratio of 2.85 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the firm posted $3.64 EPS. The business’s revenue was down 20.6% on a year-over-year basis. Sell-side analysts predict that Rockwell Automation, Inc. will post 9.56 earnings per share for the current fiscal year.

Rockwell Automation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.31 per share. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Monday, November 18th. Rockwell Automation’s payout ratio is 60.39%.

Rockwell Automation declared that its board has authorized a stock repurchase 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 purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Rockwell Automation

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.