Smithfield Trust Co Buys 133 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Smithfield Trust Co lifted its position in Rockwell Automation, Inc. (NYSE:ROK) by 33.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 532 shares of the industrial products company’s stock after purchasing an additional 133 shares during the quarter. Smithfield Trust Co’s holdings in Rockwell Automation were worth $143,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Gladstone Institutional Advisory LLC grew its stake in 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 purchasing an additional 343 shares in the last quarter. Vicus Capital purchased a new stake in Rockwell Automation during the 3rd quarter valued at approximately $304,000. Comerica Bank raised its stake in shares of Rockwell Automation by 6.1% during the 1st quarter. Comerica Bank now owns 60,019 shares of the industrial products company’s stock worth $17,485,000 after buying an additional 3,425 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Rockwell Automation during the 3rd quarter worth approximately $912,000. Finally, Magnetar Financial LLC purchased a new position in shares of Rockwell Automation during the 1st quarter worth approximately $2,817,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ROK shares. TD Cowen decreased their price objective on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. UBS Group started coverage on Rockwell Automation in a research report on Wednesday, November 13th. They set a “neutral” rating and a $313.00 target price on the stock. Morgan Stanley lifted their target price on Rockwell Automation from $320.00 to $335.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Barclays boosted their price objective on Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Finally, Mizuho boosted their target price on Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rockwell Automation has a consensus rating of “Hold” and a consensus price target of $286.13.

Insider Activity at Rockwell Automation

In related news, SVP Veena M. Lakkundi sold 579 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $266.86, for a total transaction of $154,511.94. Following the sale, the senior vice president now owns 4,576 shares in the company, valued at approximately $1,221,151.36. This trade represents a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John M. Miller sold 467 shares of Rockwell Automation stock in a transaction on Monday, November 18th. The shares were sold at an average price of $284.07, for a total transaction of $132,660.69. Following the completion of the transaction, the vice president now owns 4,800 shares in the company, valued at approximately $1,363,536. This trade represents a 8.87 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

Rockwell Automation Price Performance

NYSE:ROK opened at $278.13 on Friday. The firm has a market cap of $31.40 billion, a P/E ratio of 33.59, a price-to-earnings-growth ratio of 2.89 and a beta of 1.36. The stock has a 50 day moving average of $270.83 and a two-hundred day moving average of $267.11. Rockwell Automation, Inc. has a 12 month low of $242.81 and a 12 month high of $312.76. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The company’s revenue was down 20.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.64 earnings per share. On average, analysts expect that Rockwell Automation, Inc. will post 9.46 earnings per share for the current fiscal year.

Rockwell Automation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a $1.31 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.88%. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s dividend payout ratio (DPR) is presently 63.29%.

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

Rockwell Automation Company 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.