Amalgamated Bank Sells 288 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Amalgamated Bank trimmed its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,970 shares of the industrial products company’s stock after selling 288 shares during the quarter. Amalgamated Bank’s holdings in Rockwell Automation were worth $6,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of ROK. Vanguard Group Inc. grew its holdings in shares of Rockwell Automation by 3.2% in the first quarter. Vanguard Group Inc. now owns 14,048,986 shares of the industrial products company’s stock worth $4,092,891,000 after purchasing an additional 438,356 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Rockwell Automation by 951.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company’s stock worth $1,611,915,000 after acquiring an additional 5,006,706 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Rockwell Automation by 32.0% in the first quarter. Lazard Asset Management LLC now owns 1,510,019 shares of the industrial products company’s stock valued at $439,912,000 after acquiring an additional 365,795 shares during the period. International Assets Investment Management LLC increased its position in shares of Rockwell Automation by 29,591.7% in the third quarter. International Assets Investment Management LLC now owns 936,178 shares of the industrial products company’s stock valued at $251,326,000 after acquiring an additional 933,025 shares during the period. Finally, Champlain Investment Partners LLC raised its stake in shares of Rockwell Automation by 82.4% during the first quarter. Champlain Investment Partners LLC now owns 859,717 shares of the industrial products company’s stock valued at $250,461,000 after acquiring an additional 388,400 shares during the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Veena M. Lakkundi sold 579 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $266.86, for a total transaction of $154,511.94. Following the sale, the senior vice president now owns 4,576 shares in the company, valued at $1,221,151.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.68% of the company’s stock.

Rockwell Automation Stock Performance

Rockwell Automation stock opened at $294.00 on Thursday. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $33.36 billion, a P/E ratio of 33.41, a PEG ratio of 4.61 and a beta of 1.36. The stock’s 50 day moving average is $266.71 and its 200 day moving average is $266.63.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.63. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The company’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.01 earnings per share. On average, equities research analysts predict that Rockwell Automation, Inc. will post 9.65 earnings per share for the current fiscal year.

Rockwell Automation announced that its board has approved a share buyback program on Thursday, September 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management 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. 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 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Monday, November 18th. Rockwell Automation’s dividend payout ratio (DPR) is currently 56.82%.

Analysts Set New Price Targets

ROK has been the topic of a number of research analyst reports. Oppenheimer boosted their price target on Rockwell Automation from $270.00 to $288.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Barclays decreased their target price on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. TD Cowen cut their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Morgan Stanley started coverage on shares of Rockwell Automation in a report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price objective for the company. Finally, Wells Fargo & Company lifted their target price on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Rockwell Automation currently has a consensus rating of “Hold” and an average target price of $281.93.

Rockwell Automation Company 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.