Simmons Bank Trims Stake in Rockwell Automation, Inc. (NYSE:ROK)

Simmons Bank cut its stake in Rockwell Automation, Inc. (NYSE:ROK) by 12.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,041 shares of the industrial products company’s stock after selling 153 shares during the period. Simmons Bank’s holdings in Rockwell Automation were worth $279,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Pathway Financial Advisers LLC bought a new stake in shares of Rockwell Automation during the first quarter valued at approximately $26,000. Richardson Financial Services Inc. lifted its position in Rockwell Automation by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after buying an additional 48 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Rockwell Automation during the 3rd quarter valued at $26,000. ESL Trust Services LLC bought a new position in shares of Rockwell Automation in the 1st quarter worth about $29,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Rockwell Automation during the 2nd quarter valued at about $36,000. 75.75% of the stock is owned by institutional investors.

Rockwell Automation Price Performance

Shares of ROK opened at $286.43 on Friday. The firm has a fifty day simple moving average of $267.96 and a two-hundred day simple moving average of $266.69. The firm has a market cap of $32.50 billion, a PE ratio of 34.59, a P/E/G ratio of 2.86 and a beta of 1.36. The company has a current ratio of 1.84, a quick ratio of 1.17 and a debt-to-equity ratio of 0.70. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. Rockwell Automation’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.64 earnings per share. On average, equities analysts anticipate that Rockwell Automation, Inc. will post 9.54 EPS for the current year.

Rockwell Automation announced that its board has approved a share repurchase program on Thursday, September 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits 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 management believes its shares are undervalued.

Rockwell Automation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.31 dividend. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.83%. Rockwell Automation’s dividend payout ratio (DPR) is presently 63.29%.

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 dated Monday, November 4th. The stock was sold at an average price of $266.86, for a total transaction of $154,511.94. Following the completion of the sale, the senior vice president now owns 4,576 shares of the company’s stock, valued at approximately $1,221,151.36. The trade was a 11.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ROK shares. Barclays upped their price objective on shares of Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Mizuho raised their price objective on Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley started coverage on Rockwell Automation in a report on Friday, September 6th. They issued an “overweight” rating and a $320.00 target price on the stock. Robert W. Baird raised their price target on Rockwell Automation from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, TD Cowen dropped their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $285.13.

Rockwell Automation Profile

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.