Rockwell Automation Inc. (ROK) Director Keith D. Nosbusch Sells 50,000 Shares of Stock
Rockwell Automation Inc. (NYSE:ROK) Director Keith D. Nosbusch sold 50,000 shares of the company’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $132.55, for a total value of $6,627,500.00. Following the sale, the director now directly owns 389,896 shares of the company’s stock, valued at $51,680,714.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Rockwell Automation Inc. (NYSE:ROK) traded down 0.58% during midday trading on Thursday, hitting $132.60. The stock had a trading volume of 138,041 shares. Rockwell Automation Inc. has a 52 week low of $87.53 and a 52 week high of $133.68. The stock has a 50-day moving average of $120.99 and a 200-day moving average of $117.26. The firm has a market cap of $17.21 billion, a P/E ratio of 23.85 and a beta of 1.00.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Monday, November 7th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. Rockwell Automation had a return on equity of 36.34% and a net margin of 12.41%. The business earned $1.54 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the firm earned $1.57 earnings per share. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. Analysts forecast that Rockwell Automation Inc. will post $6.06 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Monday, November 14th will be paid a dividend of $0.76 per share. The ex-dividend date is Wednesday, November 9th. This is a boost from Rockwell Automation’s previous quarterly dividend of $0.73. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.28%. Rockwell Automation’s payout ratio is 54.58%.
Several large investors have recently made changes to their positions in the company. BlackRock Advisors LLC boosted its stake in shares of Rockwell Automation by 167.4% in the second quarter. BlackRock Advisors LLC now owns 787,979 shares of the company’s stock worth $90,475,000 after buying an additional 493,246 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of Rockwell Automation during the second quarter worth approximately $37,275,000. Credit Suisse AG boosted its stake in shares of Rockwell Automation by 49.5% in the third quarter. Credit Suisse AG now owns 930,405 shares of the company’s stock worth $113,825,000 after buying an additional 308,264 shares during the period. PGGM Investments boosted its stake in shares of Rockwell Automation by 67.3% in the second quarter. PGGM Investments now owns 716,358 shares of the company’s stock worth $82,252,000 after buying an additional 288,050 shares during the period. Finally, Bank of Montreal Can bought a new stake in shares of Rockwell Automation during the second quarter worth approximately $30,221,000. 73.02% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently commented on ROK. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Rockwell Automation in a report on Saturday, November 12th. Barclays PLC reduced their price objective on Rockwell Automation from $120.00 to $118.00 and set an “equal weight” rating for the company in a research note on Thursday, July 28th. Citigroup Inc. reduced their price objective on Rockwell Automation from $120.00 to $118.00 and set a “neutral” rating for the company in a research note on Thursday, July 28th. Canaccord Genuity downgraded Rockwell Automation from a “buy” rating to a “hold” rating and set a $94.00 price objective for the company. in a research note on Tuesday, July 26th. Finally, Berenberg Bank began coverage on Rockwell Automation in a research note on Monday, October 3rd. They issued a “sell” rating and a $110.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. Rockwell Automation has a consensus rating of “Hold” and an average price target of $109.10.
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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