Keith D. Nosbusch Sells 40,000 Shares of Rockwell Automation Inc. (ROK) Stock
Rockwell Automation Inc. (NYSE:ROK) Director Keith D. Nosbusch sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $132.37, for a total transaction of $5,294,800.00. Following the transaction, the director now directly owns 389,896 shares of the company’s stock, valued at approximately $51,610,533.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Rockwell Automation Inc. (NYSE:ROK) opened at 131.95 on Friday. The company has a market capitalization of $17.13 billion, a P/E ratio of 23.73 and a beta of 1.00. 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.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Monday, November 7th. The company reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.03. Rockwell Automation had a net margin of 12.41% and a return on equity of 36.34%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the firm posted $1.57 earnings per share. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, equities analysts forecast that Rockwell Automation Inc. will post $6.06 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Monday, November 14th will be given a $0.76 dividend. This is a positive change from Rockwell Automation’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, November 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.30%. Rockwell Automation’s dividend payout ratio (DPR) is currently 54.58%.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Rockwell Automation by 0.8% in the second quarter. Vanguard Group Inc. now owns 7,919,804 shares of the company’s stock worth $909,351,000 after buying an additional 64,944 shares in the last quarter. Lazard Asset Management LLC raised its position in Rockwell Automation by 0.6% in the third quarter. Lazard Asset Management LLC now owns 4,671,449 shares of the company’s stock worth $571,504,000 after buying an additional 26,727 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Rockwell Automation by 1.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,406,867 shares of the company’s stock worth $416,796,000 after buying an additional 34,719 shares in the last quarter. BlackRock Fund Advisors raised its position in Rockwell Automation by 3.8% in the third quarter. BlackRock Fund Advisors now owns 2,201,314 shares of the company’s stock worth $269,309,000 after buying an additional 80,074 shares in the last quarter. Finally, Eaton Vance Management raised its position in Rockwell Automation by 7.8% in the third quarter. Eaton Vance Management now owns 1,149,042 shares of the company’s stock worth $140,574,000 after buying an additional 83,120 shares in the last quarter. 73.02% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on the stock. Berenberg Bank assumed coverage on shares of Rockwell Automation in a research report on Monday, October 3rd. They issued a “sell” rating and a $110.00 price objective for the company. Morgan Stanley set a $109.00 price objective on shares of Rockwell Automation and gave the stock a “sell” rating in a research report on Wednesday, September 28th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Rockwell Automation in a research report on Saturday, November 12th. Stifel Nicolaus reissued a “hold” rating on shares of Rockwell Automation in a research report on Friday, October 21st. Finally, Canaccord Genuity lowered shares of Rockwell Automation from a “buy” rating to a “hold” rating and set a $94.00 price objective for the company. in a research report on Tuesday, July 26th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. Rockwell Automation currently has a consensus rating of “Hold” and a consensus 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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