Summit Asset Management LLC Acquires 670 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Summit Asset Management LLC grew its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 17.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,544 shares of the industrial products company’s stock after buying an additional 670 shares during the period. Summit Asset Management LLC’s holdings in Rockwell Automation were worth $1,299,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of ROK. Richardson Financial Services Inc. lifted its holdings in shares of Rockwell Automation by 100.0% in the 3rd 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. Ashton Thomas Securities LLC bought a new position in shares of Rockwell Automation in the 3rd quarter worth $26,000. West Oak Capital LLC lifted its holdings in shares of Rockwell Automation by 455.6% in the 4th 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 in the last quarter. Darwin Wealth Management LLC bought a new position in shares of Rockwell Automation in the 3rd quarter worth $34,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of Rockwell Automation in the 4th quarter worth $34,000. 75.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ROK shares. Wells Fargo & Company increased their target price on Rockwell Automation from $315.00 to $337.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. BNP Paribas lowered Rockwell Automation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. lowered their price target on Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating for the company in a research report on Wednesday, January 15th. HSBC raised Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 price target for the company in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group increased their price target on Rockwell Automation from $257.00 to $290.00 and gave the company a “sell” rating in a research report on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $308.05.

Insider Activity at Rockwell Automation

In other news, VP Scott Genereux sold 278 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $302.04, for a total value of $83,967.12. Following the completion of the transaction, the vice president now directly owns 3,184 shares in the company, valued at approximately $961,695.36. This represents a 8.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Blake D. Moret sold 1,121 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $302.01, for a total value of $338,553.21. Following the completion of the transaction, the chief executive officer now owns 81,754 shares of the company’s stock, valued at $24,690,525.54. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,240 shares of company stock valued at $10,800,555 over the last 90 days. 0.68% of the stock is owned by insiders.

Rockwell Automation Trading Down 2.7 %

Shares of ROK opened at $294.95 on Friday. The business has a 50-day moving average of $286.31 and a 200 day moving average of $277.35. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $308.70. The firm has a market cap of $33.35 billion, a P/E ratio of 36.73, a price-to-earnings-growth ratio of 3.53 and a beta of 1.35. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.08.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Monday, February 10th. The industrial products company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. As a group, research analysts forecast that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th will be paid a $1.31 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.78%. Rockwell Automation’s dividend payout ratio is presently 65.26%.

Rockwell Automation 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.