Amalgamated Bank Sells 288 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Amalgamated Bank lessened its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,970 shares of the industrial products company’s stock after selling 288 shares during the quarter. Amalgamated Bank’s holdings in Rockwell Automation were worth $6,167,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ROK. Pathway Financial Advisers LLC bought a new stake in 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% in the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after buying an additional 48 shares during the last quarter. ESL Trust Services LLC bought a new stake in shares of Rockwell Automation in the first quarter worth $29,000. Strategic Investment Solutions Inc. IL purchased a new stake in Rockwell Automation during the second quarter valued at $36,000. Finally, Cultivar Capital Inc. bought a new position in Rockwell Automation in the second quarter valued at about $46,000. 75.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ROK shares. TD Cowen reduced their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Oppenheimer upped their target price on shares of Rockwell Automation from $270.00 to $288.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Bank of America lifted their price target on shares of Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. reduced their price objective on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Finally, Mizuho lifted their target price on Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $281.93.

Rockwell Automation Stock Performance

NYSE ROK opened at $294.00 on Thursday. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76. The business has a 50-day moving average price of $266.71 and a 200-day moving average price of $266.63. The firm has a market cap of $33.36 billion, a price-to-earnings ratio of 33.41, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36.

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

Rockwell Automation Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.31 per share. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date is Monday, November 18th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.78%. Rockwell Automation’s dividend payout ratio is currently 56.82%.

Rockwell Automation declared that its Board of Directors has approved a share repurchase plan on Thursday, September 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 4,576 shares in the company, valued at $1,221,151.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.68% of the stock is currently owned by corporate insiders.

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.