Rockwell Automation (NYSE:ROK) CFO Patrick P. Goris sold 577 shares of Rockwell Automation stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $175.83, for a total value of $101,453.91. Following the completion of the transaction, the chief financial officer now directly owns 8,326 shares of the company’s stock, valued at $1,463,960.58. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of NYSE ROK opened at $161.55 on Friday. Rockwell Automation has a fifty-two week low of $153.67 and a fifty-two week high of $209.38. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $20.18 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 1.59 and a beta of 1.29.
Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $2.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.09. Rockwell Automation had a return on equity of 57.53% and a net margin of 8.03%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the company posted $1.69 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that Rockwell Automation will post 9.03 EPS for the current fiscal year.
Rockwell Automation declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 4.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 12th will be paid a $0.97 dividend. This is a positive change from Rockwell Automation’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $3.88 annualized dividend and a dividend yield of 2.40%. Rockwell Automation’s dividend payout ratio (DPR) is presently 47.84%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Alecta Pensionsforsakring Omsesidigt increased its stake in shares of Rockwell Automation by 14.7% in the 3rd quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,728,265 shares of the industrial products company’s stock valued at $511,632,000 after purchasing an additional 350,000 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Rockwell Automation by 7.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,847,004 shares of the industrial products company’s stock valued at $346,362,000 after purchasing an additional 128,265 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Rockwell Automation by 7.4% in the 3rd quarter. Wells Fargo & Company MN now owns 1,466,948 shares of the industrial products company’s stock valued at $275,082,000 after purchasing an additional 101,289 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Rockwell Automation by 23.2% in the 2nd quarter. Bank of America Corp DE now owns 1,224,685 shares of the industrial products company’s stock valued at $203,581,000 after purchasing an additional 230,688 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Rockwell Automation by 17.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,106,721 shares of the industrial products company’s stock valued at $207,533,000 after purchasing an additional 164,984 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.
ROK has been the subject of several analyst reports. Morgan Stanley initiated coverage on Rockwell Automation in a report on Tuesday, August 21st. They issued an “underweight” rating and a $163.00 price objective for the company. UBS Group dropped their price objective on Rockwell Automation from $210.00 to $205.00 and set a “buy” rating for the company in a report on Thursday, August 30th. ValuEngine raised Rockwell Automation from a “hold” rating to a “buy” rating in a report on Friday, September 21st. Wells Fargo & Co lifted their price objective on Rockwell Automation from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, October 2nd. Finally, Gordon Haskett initiated coverage on Rockwell Automation in a report on Friday, October 12th. They issued a “buy” rating for the company. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $178.87.
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Rockwell Automation Company Profile
Rockwell Automation Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.
Further Reading: What is a Leveraged Buyout (LBO)?
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