Insider Buying: Rockwell Automation, Inc. (ROK) Director Purchases $15,078.70 in Stock
Rockwell Automation, Inc. (NYSE:ROK) Director Lawrence D. Kingsley bought 130 shares of Rockwell Automation stock in a transaction on Wednesday, June 14th. The stock was acquired at an average cost of $115.99 per share, with a total value of $15,078.70. Following the acquisition, the director now owns 5,421 shares of the company’s stock, valued at approximately $628,781.79. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Rockwell Automation, Inc. (NYSE:ROK) traded up $1.67 during trading hours on Thursday, hitting $192.26. The stock had a trading volume of 720,905 shares, compared to its average volume of 878,768. The firm has a market cap of $24,117.42, a P/E ratio of 27.80, a PEG ratio of 2.11 and a beta of 1.23. The company has a quick ratio of 1.80, a current ratio of 2.06 and a debt-to-equity ratio of 0.47. Rockwell Automation, Inc. has a fifty-two week low of $133.61 and a fifty-two week high of $210.72.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $1.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.03). The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.67 billion. Rockwell Automation had a return on equity of 38.67% and a net margin of 13.08%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $1.52 EPS. equities analysts forecast that Rockwell Automation, Inc. will post 7.39 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Monday, November 13th will be paid a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, November 10th. This is an increase from Rockwell Automation’s previous quarterly dividend of $0.76. Rockwell Automation’s payout ratio is 52.68%.
ROK has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Rockwell Automation from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Cowen reissued a “hold” rating and issued a $140.00 target price on shares of Rockwell Automation in a report on Sunday, September 17th. ValuEngine raised Rockwell Automation from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. Credit Suisse Group reissued a “neutral” rating and issued a $174.00 target price (up previously from $154.00) on shares of Rockwell Automation in a report on Wednesday, October 11th. Finally, downgraded Rockwell Automation from a “hold” rating to a “reduce” rating in a report on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $165.00.
Several large investors have recently added to or reduced their stakes in the company. Old Mutual Global Investors UK Ltd. purchased a new stake in Rockwell Automation during the 2nd quarter worth about $126,891,000. Ameriprise Financial Inc. increased its position in Rockwell Automation by 277.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,059,003 shares of the industrial products company’s stock worth $171,517,000 after purchasing an additional 778,633 shares in the last quarter. BlackRock Inc. increased its position in Rockwell Automation by 7.5% during the 2nd quarter. BlackRock Inc. now owns 9,698,308 shares of the industrial products company’s stock worth $1,570,735,000 after purchasing an additional 679,645 shares in the last quarter. Voya Investment Management LLC increased its position in Rockwell Automation by 741.5% during the 2nd quarter. Voya Investment Management LLC now owns 695,922 shares of the industrial products company’s stock worth $112,712,000 after purchasing an additional 613,225 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Rockwell Automation by 37.9% during the 2nd quarter. Franklin Resources Inc. now owns 1,156,116 shares of the industrial products company’s stock worth $187,224,000 after purchasing an additional 317,777 shares in the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.
About Rockwell Automation
Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.
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