Wolverine Asset Management LLC Buys Shares of 2,000 Rockwell Automation, Inc. $ROK

Wolverine Asset Management LLC bought a new stake in shares of Rockwell Automation, Inc. (NYSE:ROK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,000 shares of the industrial products company’s stock, valued at approximately $664,000.

Several other large investors have also recently bought and sold shares of ROK. Brighton Jones LLC acquired a new position in Rockwell Automation during the 4th quarter valued at about $281,000. Allspring Global Investments Holdings LLC increased its stake in Rockwell Automation by 0.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company’s stock valued at $1,462,000 after buying an additional 43 shares during the period. Teacher Retirement System of Texas increased its stake in Rockwell Automation by 1,453.3% during the 1st quarter. Teacher Retirement System of Texas now owns 16,512 shares of the industrial products company’s stock valued at $4,266,000 after buying an additional 15,449 shares during the period. Mutual Advisors LLC increased its stake in Rockwell Automation by 9.8% during the 1st quarter. Mutual Advisors LLC now owns 2,367 shares of the industrial products company’s stock valued at $588,000 after buying an additional 212 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Rockwell Automation by 8.9% in the 1st quarter. Principal Financial Group Inc. now owns 232,563 shares of the industrial products company’s stock worth $60,090,000 after purchasing an additional 19,064 shares during the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

Shares of ROK opened at $368.89 on Monday. Rockwell Automation, Inc. has a one year low of $215.00 and a one year high of $375.02. The company has a 50-day moving average of $348.01 and a two-hundred day moving average of $327.99. The stock has a market cap of $41.48 billion, a price-to-earnings ratio of 43.30, a PEG ratio of 3.30 and a beta of 1.41. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.67 by $0.15. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the company posted $2.71 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 17th will be issued a $1.38 dividend. The ex-dividend date is Monday, November 17th. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.31. This represents a $5.52 annualized dividend and a dividend yield of 1.5%. Rockwell Automation’s dividend payout ratio is 61.50%.

Wall Street Analyst Weigh In

ROK has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rockwell Automation in a research note on Wednesday, October 8th. KeyCorp lifted their price objective on shares of Rockwell Automation from $370.00 to $380.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Wall Street Zen raised shares of Rockwell Automation from a “hold” rating to a “buy” rating in a research note on Sunday, September 21st. Wells Fargo & Company lifted their price objective on shares of Rockwell Automation from $345.00 to $355.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Finally, Bank of America raised shares of Rockwell Automation from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $360.00 to $410.00 in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $347.94.

Insider Buying and Selling

In related news, VP Isaac Woods sold 365 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $348.44, for a total transaction of $127,180.60. Following the completion of the sale, the vice president directly owned 1,691 shares in the company, valued at approximately $589,212.04. This trade represents a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Blake D. Moret sold 24,400 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $350.13, for a total transaction of $8,543,172.00. Following the sale, the chief executive officer owned 83,873 shares of the company’s stock, valued at approximately $29,366,453.49. This represents a 22.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 30,375 shares of company stock valued at $10,661,109. Company insiders own 0.68% of the company’s stock.

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.