Stiles Financial Services Inc Sells 64 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Stiles Financial Services Inc lessened its stake in Rockwell Automation, Inc. (NYSE:ROK) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,245 shares of the industrial products company’s stock after selling 64 shares during the period. Stiles Financial Services Inc’s holdings in Rockwell Automation were worth $603,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Gladstone Institutional Advisory LLC grew its position in shares of Rockwell Automation by 33.2% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 1,377 shares of the industrial products company’s stock worth $370,000 after buying an additional 343 shares during the period. Vicus Capital acquired a new stake in Rockwell Automation during the 3rd quarter worth $304,000. SG Americas Securities LLC raised its position in shares of Rockwell Automation by 186.9% during the 1st quarter. SG Americas Securities LLC now owns 14,731 shares of the industrial products company’s stock valued at $4,292,000 after acquiring an additional 9,596 shares during the last quarter. Comerica Bank lifted its stake in shares of Rockwell Automation by 6.1% in the 1st quarter. Comerica Bank now owns 60,019 shares of the industrial products company’s stock valued at $17,485,000 after purchasing an additional 3,425 shares during the period. Finally, Magnetar Financial LLC bought a new position in shares of Rockwell Automation in the 1st quarter worth $2,817,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Stock Down 5.8 %

Shares of Rockwell Automation stock opened at $277.09 on Friday. The firm has a market cap of $31.44 billion, a PE ratio of 31.49, a P/E/G ratio of 4.61 and a beta of 1.36. The business’s 50 day simple moving average is $266.71 and its 200 day simple moving average is $266.63. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76.

Rockwell Automation (NYSE:ROK) last issued 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 company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the business earned $3.01 EPS. On average, analysts predict that Rockwell Automation, Inc. will post 9.65 earnings per share for the current fiscal year.

Rockwell Automation announced that its Board of Directors has initiated a share repurchase program on Thursday, September 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Rockwell Automation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a $1.31 dividend. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a yield of 1.89%. The ex-dividend date is Monday, November 18th. Rockwell Automation’s payout ratio is presently 56.82%.

Insiders Place Their Bets

In other news, SVP Veena M. Lakkundi sold 579 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $266.86, for a total value of $154,511.94. Following the completion of the transaction, the senior vice president now owns 4,576 shares in the company, valued at $1,221,151.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

ROK has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Robert W. Baird boosted their price objective on shares of Rockwell Automation from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Friday. Oppenheimer increased their target price on shares of Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Bank of America upped their price objective on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley initiated coverage on Rockwell Automation in a report on Friday, September 6th. They set an “overweight” rating and a $320.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $282.64.

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.