Silvant Capital Management LLC Sells 117 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Silvant Capital Management LLC decreased its position in Rockwell Automation, Inc. (NYSE:ROK) by 0.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,585 shares of the industrial products company’s stock after selling 117 shares during the quarter. Silvant Capital Management LLC’s holdings in Rockwell Automation were worth $5,795,000 at the end of the most recent quarter.

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 1st quarter worth approximately $26,000. Richardson Financial Services Inc. boosted its stake in shares of Rockwell Automation by 100.0% during the 3rd 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 last quarter. ESL Trust Services LLC bought a new stake in shares of Rockwell Automation during the 1st quarter valued at $29,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Rockwell Automation in the 2nd quarter worth $36,000. Finally, Cultivar Capital Inc. bought a new position in Rockwell Automation in the 2nd quarter worth $46,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Trading Up 0.8 %

ROK stock opened at $268.72 on Friday. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76. The stock has a market capitalization of $30.49 billion, a price-to-earnings ratio of 30.54, a price-to-earnings-growth ratio of 4.64 and a beta of 1.36. 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 firm’s fifty day simple moving average is $266.02 and its two-hundred day simple moving average is $266.69.

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

Rockwell Automation Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a $1.31 dividend. This represents a $5.24 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Monday, November 18th. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s dividend payout ratio (DPR) is currently 56.82%.

Rockwell Automation announced that its board has authorized a stock buyback plan on Thursday, September 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to buy up to 3.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

ROK has been the subject of a number of analyst reports. Barclays reduced their price target on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Oppenheimer raised their target price on shares of Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley started coverage on shares of Rockwell Automation in a research report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price target for the company. TD Cowen decreased their price objective on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Finally, Mizuho increased their price target on Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Rockwell Automation has a consensus rating of “Hold” and an average price target of $286.47.

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.