Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Garland Capital Management Inc.

Garland Capital Management Inc. cut its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 14.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,820 shares of the industrial products company’s stock after selling 2,115 shares during the quarter. Rockwell Automation accounts for 2.6% of Garland Capital Management Inc.’s investment portfolio, making the stock its 26th biggest holding. Garland Capital Management Inc.’s holdings in Rockwell Automation were worth $3,442,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CreativeOne Wealth LLC raised its stake in shares of Rockwell Automation by 3.0% during the 1st quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock worth $372,000 after buying an additional 37 shares during the last quarter. Mather Group LLC. grew its position in shares of Rockwell Automation by 5.9% in the second quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock valued at $198,000 after purchasing an additional 38 shares during the last quarter. Pure Financial Advisors LLC grew its position in shares of Rockwell Automation by 2.7% in the second quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock valued at $444,000 after purchasing an additional 42 shares during the last quarter. Pitcairn Co. increased its stake in shares of Rockwell Automation by 4.2% during the 1st quarter. Pitcairn Co. now owns 1,096 shares of the industrial products company’s stock worth $319,000 after purchasing an additional 44 shares in the last quarter. Finally, Hancock Whitney Corp lifted its stake in Rockwell Automation by 2.5% in the 1st quarter. Hancock Whitney Corp now owns 1,805 shares of the industrial products company’s stock valued at $526,000 after buying an additional 44 shares in the last quarter. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ROK. JPMorgan Chase & Co. dropped their price target on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Redburn Atlantic assumed coverage on Rockwell Automation in a research report on Monday, July 8th. They set a “neutral” rating and a $256.00 price objective for the company. 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. Wells Fargo & Company lifted their price target on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Robert W. Baird reduced their price objective on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $281.93.

Rockwell Automation Trading Up 1.0 %

Rockwell Automation stock traded up $2.61 during midday trading on Tuesday, reaching $267.26. The stock had a trading volume of 70,715 shares, compared to its average volume of 863,450. The stock’s 50-day simple moving average is $265.95 and its 200 day simple moving average is $266.44. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04. The stock has a market capitalization of $30.33 billion, a PE ratio of 30.44, a price-to-earnings-growth ratio of 4.68 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the business earned $3.01 EPS. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. Analysts expect that Rockwell Automation, Inc. will post 9.65 EPS for the current year.

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

Rockwell Automation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.96%. 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%.

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.