Private Trust Co. NA Has $1.11 Million Position in Rockwell Automation, Inc. (NYSE:ROK)

Private Trust Co. NA trimmed its position in Rockwell Automation, Inc. (NYSE:ROK) by 5.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,131 shares of the industrial products company’s stock after selling 258 shares during the quarter. Private Trust Co. NA’s holdings in Rockwell Automation were worth $1,109,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Horizon Kinetics Asset Management LLC increased its position in Rockwell Automation by 33.7% during the third quarter. Horizon Kinetics Asset Management LLC now owns 6,015 shares of the industrial products company’s stock worth $1,615,000 after acquiring an additional 1,515 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Rockwell Automation by 19.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 512 shares of the industrial products company’s stock worth $137,000 after purchasing an additional 82 shares in the last quarter. DRW Securities LLC bought a new position in shares of Rockwell Automation during the third quarter worth approximately $275,000. Dynamic Technology Lab Private Ltd acquired a new position in Rockwell Automation in the 3rd quarter valued at $300,000. Finally, Davis R M Inc. lifted its position in Rockwell Automation by 11.9% during the third quarter. Davis R M Inc. now owns 85,468 shares of the industrial products company’s stock worth $22,945,000 after purchasing an additional 9,105 shares during the period. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Up 2.7 %

ROK stock opened at $298.84 on Tuesday. The stock has a fifty day moving average of $272.12 and a 200-day moving average of $267.32. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $312.76. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08. The company has a market capitalization of $33.74 billion, a price-to-earnings ratio of 36.09, a PEG ratio of 3.02 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.40 by $0.07. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. Rockwell Automation’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.64 earnings per share. As a group, equities research analysts predict that Rockwell Automation, Inc. will post 9.46 earnings per share for the current year.

Rockwell Automation announced that its board has initiated a stock repurchase program on Thursday, September 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Rockwell Automation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $1.31 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.24 annualized dividend and a yield of 1.75%. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s dividend payout ratio is presently 63.29%.

Insider Activity

In other news, CEO Blake D. Moret sold 26,700 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $298.63, for a total value of $7,973,421.00. Following the transaction, the chief executive officer now owns 78,115 shares in the company, valued at $23,327,482.45. This represents a 25.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Cyril Perducat sold 1,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the sale, the senior vice president now directly owns 3,630 shares of the company’s stock, valued at $1,089,000. This represents a 21.60 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,746 shares of company stock valued at $8,560,594. Company insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. BNP Paribas started coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They set an “outperform” rating and a $345.00 price objective for the company. Robert W. Baird upped their price objective on Rockwell Automation from $280.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Barclays lifted their target price on Rockwell Automation from $245.00 to $255.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. TD Cowen lowered their target price on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Finally, Wells Fargo & Company lifted their price target on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Rockwell Automation has an average rating of “Hold” and a consensus price target of $286.13.

Rockwell Automation Company 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.