Insider Selling: Rockwell Automation Inc. (ROK) VP Sells $763,620.00 in Stock
Rockwell Automation Inc. (NYSE:ROK) VP David M. Dorgan sold 6,000 shares of the stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $127.27, for a total value of $763,620.00. Following the completion of the transaction, the vice president now directly owns 16,300 shares of the company’s stock, valued at $2,074,501. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of Rockwell Automation Inc. (NYSE:ROK) opened at 132.22 on Tuesday. Rockwell Automation Inc. has a 12 month low of $87.53 and a 12 month high of $133.28. The stock’s 50 day moving average price is $119.52 and its 200 day moving average price is $116.86. The firm has a market cap of $17.16 billion, a price-to-earnings ratio of 23.78 and a beta of 1.00.
Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Monday, November 7th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.03. Rockwell Automation had a return on equity of 36.34% and a net margin of 12.41%. The firm earned $1.54 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the business earned $1.57 earnings per share. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities research analysts predict that Rockwell Automation Inc. will post $6.02 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Monday, November 14th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Wednesday, November 9th. This is an increase from Rockwell Automation’s previous quarterly dividend of $0.73. Rockwell Automation’s payout ratio is 54.58%.
A number of large investors have recently bought and sold shares of ROK. Tredje AP fonden increased its stake in Rockwell Automation by 262.5% in the second quarter. Tredje AP fonden now owns 870 shares of the company’s stock worth $100,000 after buying an additional 630 shares during the period. Checchi Capital Advisers LLC increased its stake in Rockwell Automation by 0.5% in the second quarter. Checchi Capital Advisers LLC now owns 938 shares of the company’s stock worth $108,000 after buying an additional 5 shares during the period. Johnson Financial Group Inc. increased its stake in Rockwell Automation by 1,818.4% in the second quarter. Johnson Financial Group Inc. now owns 940 shares of the company’s stock worth $108,000 after buying an additional 891 shares during the period. Meeder Asset Management Inc. purchased a new stake in Rockwell Automation during the first quarter worth about $110,000. Finally, TLP Group LLC purchased a new stake in Rockwell Automation during the third quarter worth about $138,000. 73.02% of the stock is owned by hedge funds and other institutional investors.
ROK has been the subject of several analyst reports. Barclays PLC dropped their target price on Rockwell Automation from $120.00 to $118.00 and set an “equal weight” rating for the company in a report on Thursday, July 28th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Rockwell Automation in a report on Saturday. HSBC started coverage on Rockwell Automation in a report on Friday, October 7th. They set a “hold” rating and a $108.00 price target for the company. Stifel Nicolaus reiterated a “hold” rating on shares of Rockwell Automation in a report on Friday, October 21st. Finally, Canaccord Genuity cut Rockwell Automation from a “buy” rating to a “hold” rating and set a $94.00 price target for the company. in a report on Tuesday, July 26th. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $108.67.
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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