Smithfield Trust Co Raises Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Smithfield Trust Co lifted its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 33.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 532 shares of the industrial products company’s stock after acquiring an additional 133 shares during the quarter. Smithfield Trust Co’s holdings in Rockwell Automation were worth $143,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ROK. Pathway Financial Advisers LLC bought a new position in shares of Rockwell Automation in the first quarter worth $26,000. Ashton Thomas Securities LLC bought a new position in shares of Rockwell Automation in the third quarter worth $26,000. Richardson Financial Services Inc. boosted its holdings in shares of Rockwell Automation by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Rockwell Automation in the third quarter worth $34,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Rockwell Automation during the second quarter valued at $36,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rockwell Automation

In other news, VP John M. Miller sold 467 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $284.07, for a total value of $132,660.69. Following the sale, the vice president now directly owns 4,800 shares of the company’s stock, valued at $1,363,536. The trade was a 8.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Veena M. Lakkundi sold 579 shares of the company’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 completion of the transaction, the senior vice president now directly owns 4,576 shares in the company, valued at $1,221,151.36. This trade represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Rockwell Automation Stock Down 0.7 %

ROK opened at $278.13 on Friday. The company has a market cap of $31.40 billion, a P/E ratio of 33.59, a P/E/G ratio of 2.89 and a beta of 1.36. The business’s 50-day moving average price is $270.83 and its 200-day moving average price is $267.11. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. Rockwell Automation, Inc. has a 12 month low of $242.81 and a 12 month high of $312.76.

Rockwell Automation (NYSE:ROK) last announced its quarterly 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 company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the business earned $3.64 EPS. Rockwell Automation’s revenue was down 20.6% compared to the same quarter last year. On average, equities analysts expect that Rockwell Automation, Inc. will post 9.46 EPS for the current year.

Rockwell Automation declared that its board has authorized a stock repurchase plan on Thursday, September 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors 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 given a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 1.88%. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date is Monday, November 18th. Rockwell Automation’s payout ratio is presently 63.29%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ROK shares. BNP Paribas started coverage on Rockwell Automation in a research note on Wednesday, November 13th. They set an “outperform” rating and a $345.00 price objective for the company. UBS Group started coverage on Rockwell Automation in a research note on Wednesday, November 13th. They set a “neutral” rating and a $313.00 price objective for the company. TD Cowen lowered their price target on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Robert W. Baird raised their price target on Rockwell Automation from $280.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Barclays raised their price target on Rockwell Automation from $245.00 to $255.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rockwell Automation currently has an average rating of “Hold” and a consensus price target of $286.13.

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.