Avitas Wealth Management LLC Sells 95 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Avitas Wealth Management LLC trimmed its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 5.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,529 shares of the industrial products company’s stock after selling 95 shares during the period. Avitas Wealth Management LLC’s holdings in Rockwell Automation were worth $421,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Pathway Financial Advisers LLC bought a new position in shares of Rockwell Automation in the first quarter worth $26,000. Riverview Trust Co bought a new position in shares of Rockwell Automation in the first quarter worth $28,000. Bfsg LLC bought a new position in shares of Rockwell Automation in the first quarter worth $29,000. ESL Trust Services LLC bought a new position in shares of Rockwell Automation in the first quarter worth $29,000. Finally, Security National Bank bought a new position in shares of Rockwell Automation in the fourth quarter worth $40,000. 75.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ROK. Mizuho cut their price target on Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Oppenheimer dropped their price objective on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Redburn Atlantic began coverage on Rockwell Automation in a research note on Monday, July 8th. They set a “neutral” rating and a $256.00 price objective for the company. Barclays dropped their price objective on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Finally, Robert W. Baird lowered their price target on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $280.14.

Rockwell Automation Price Performance

Shares of ROK traded up $7.95 during midday trading on Friday, hitting $270.98. 512,920 shares of the company traded hands, compared to its average volume of 945,347. The firm has a 50 day moving average of $266.52 and a 200-day moving average of $272.45. Rockwell Automation, Inc. has a 52 week low of $242.81 and a 52 week high of $317.74. The stock has a market cap of $30.89 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 4.71 and a beta of 1.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.11.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.08 by $0.63. Rockwell Automation had a net margin of 13.19% and a return on equity of 34.83%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $3.01 EPS. The business’s revenue was down 8.4% on a year-over-year basis. On average, analysts forecast that Rockwell Automation, Inc. will post 10.07 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 12th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Monday, August 12th. Rockwell Automation’s payout ratio is 48.88%.

Insider Activity at Rockwell Automation

In related news, SVP Cyril Perducat sold 659 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $260.11, for a total value of $171,412.49. Following the completion of the transaction, the senior vice president now owns 4,630 shares of the company’s stock, valued at approximately $1,204,309.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Cyril Perducat sold 659 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $260.11, for a total value of $171,412.49. Following the sale, the senior vice president now directly owns 4,630 shares of the company’s stock, valued at approximately $1,204,309.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tessa M. Myers sold 528 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total transaction of $133,995.84. Following the completion of the sale, the senior vice president now directly owns 3,718 shares in the company, valued at $943,554.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,732 shares of company stock valued at $445,133. Insiders own 0.68% of the company’s stock.

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.