Huntington National Bank Buys 8,201 Shares of Rockwell Automation, Inc. $ROK

Huntington National Bank grew its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 3.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 228,111 shares of the industrial products company’s stock after buying an additional 8,201 shares during the period. Huntington National Bank’s holdings in Rockwell Automation were worth $75,772,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Financial Gravity Asset Management Inc. bought a new stake in shares of Rockwell Automation during the 1st quarter valued at $31,000. IMA Advisory Services Inc. bought a new stake in shares of Rockwell Automation during the 1st quarter valued at $32,000. Cooksen Wealth LLC bought a new stake in shares of Rockwell Automation during the 1st quarter valued at $34,000. Legend Financial Advisors Inc. bought a new stake in shares of Rockwell Automation during the 2nd quarter valued at $39,000. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Rockwell Automation by 59.6% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 166 shares of the industrial products company’s stock valued at $43,000 after buying an additional 62 shares in the last quarter. Institutional investors own 75.75% of the company’s stock.

Insider Buying and Selling

In other Rockwell Automation news, SVP Matheus De A. G. Viera Bulho sold 822 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $365.00, for a total value of $300,030.00. Following the transaction, the senior vice president owned 983 shares of the company’s stock, valued at $358,795. This represents a 45.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Cyril Perducat sold 1,435 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $348.08, for a total value of $499,494.80. Following the completion of the transaction, the senior vice president directly owned 3,787 shares in the company, valued at $1,318,178.96. This trade represents a 27.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,375 shares of company stock worth $10,661,109 over the last ninety days. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

ROK has been the topic of a number of research reports. Oppenheimer boosted their target price on shares of Rockwell Automation from $363.00 to $365.00 and gave the company an “outperform” rating in a report on Tuesday, October 14th. KeyCorp boosted their target price on Rockwell Automation from $370.00 to $380.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Barclays boosted their target price on Rockwell Automation from $357.00 to $370.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Wells Fargo & Company boosted their target price on Rockwell Automation from $345.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Finally, CICC Research assumed coverage on Rockwell Automation in a research report on Monday, July 7th. They issued an “outperform” rating and a $381.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Rockwell Automation has a consensus rating of “Moderate Buy” and a consensus target price of $347.94.

Rockwell Automation Stock Down 1.1%

Shares of ROK opened at $364.18 on Tuesday. The stock has a market capitalization of $40.95 billion, a price-to-earnings ratio of 42.74, a price-to-earnings-growth ratio of 3.30 and a beta of 1.41. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $375.02. The business’s 50 day simple moving average is $348.30 and its 200-day simple moving average is $328.92. 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 issued its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.15. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.71 EPS. As a group, equities analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 17th will be given a $1.38 dividend. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.31. The ex-dividend date of this dividend is Monday, November 17th. This represents a $5.52 annualized dividend and a yield of 1.5%. Rockwell Automation’s dividend payout ratio is currently 64.79%.

About Rockwell Automation

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.