Summit Financial LLC Sells 115 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Summit Financial LLC trimmed its position in Rockwell Automation, Inc. (NYSE:ROK) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,043 shares of the industrial products company’s stock after selling 115 shares during the quarter. Summit Financial LLC’s holdings in Rockwell Automation were worth $1,155,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ROK. Townsquare Capital LLC boosted its holdings in Rockwell Automation by 13.2% during the third quarter. Townsquare Capital LLC now owns 2,104 shares of the industrial products company’s stock valued at $565,000 after acquiring an additional 245 shares during the period. CreativeOne Wealth LLC boosted its stake in Rockwell Automation by 9.7% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,088 shares of the industrial products company’s stock valued at $292,000 after purchasing an additional 96 shares during the period. Public Sector Pension Investment Board grew its holdings in Rockwell Automation by 14.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 4,897 shares of the industrial products company’s stock valued at $1,315,000 after buying an additional 600 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Rockwell Automation in the 3rd quarter worth approximately $589,000. Finally, Atom Investors LP acquired a new position in shares of Rockwell Automation during the third quarter worth approximately $1,350,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Automation Stock Up 0.1 %

NYSE ROK opened at $258.68 on Wednesday. The stock’s 50 day simple moving average is $277.71 and its 200 day simple moving average is $278.88. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $308.70. The firm has a market cap of $29.25 billion, a PE ratio of 32.21, a price-to-earnings-growth ratio of 3.53 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.08 and a quick ratio of 0.72.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Monday, February 10th. The industrial products company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. As a group, sell-side analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 2.03%. Rockwell Automation’s payout ratio is 65.26%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ROK. Robert W. Baird boosted their target price on shares of Rockwell Automation from $305.00 to $315.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. KeyCorp upgraded shares of Rockwell Automation from a “sector weight” rating to an “overweight” rating and set a $345.00 price objective on the stock in a report on Monday, December 9th. The Goldman Sachs Group lifted their target price on Rockwell Automation from $257.00 to $290.00 and gave the stock a “sell” rating in a research report on Tuesday, February 11th. Morgan Stanley upped their price target on Rockwell Automation from $335.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Oppenheimer lifted their price objective on Rockwell Automation from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Rockwell Automation presently has an average rating of “Hold” and a consensus price target of $307.42.

Insider Activity

In related news, SVP Tessa M. Myers sold 1,231 shares of Rockwell Automation stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $285.43, for a total value of $351,364.33. Following the completion of the sale, the senior vice president now directly owns 3,650 shares in the company, valued at $1,041,819.50. This trade represents a 25.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Isaac Woods sold 895 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $274.72, for a total transaction of $245,874.40. Following the transaction, the vice president now owns 1,198 shares in the company, valued at approximately $329,114.56. The trade was a 42.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,352 shares of company stock valued at $1,246,298 over the last three months. 0.68% of the stock is owned by insiders.

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.