Sandy Spring Bank trimmed its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 4.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,468 shares of the industrial products company’s stock after selling 717 shares during the period. Sandy Spring Bank’s holdings in Rockwell Automation were worth $3,192,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Hexavest Inc. raised its holdings in shares of Rockwell Automation by 395.8% during the third quarter. Hexavest Inc. now owns 119 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 95 shares during the period. Nachman Norwood & Parrott Inc acquired a new stake in shares of Rockwell Automation in the 3rd quarter worth about $32,000. Financial Management Professionals Inc. increased its holdings in shares of Rockwell Automation by 914.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 213 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 192 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Rockwell Automation in the 2nd quarter worth about $51,000. Finally, Hanseatic Management Services Inc. acquired a new stake in shares of Rockwell Automation in the 3rd quarter worth about $66,000. 76.39% of the stock is currently owned by institutional investors.
Shares of NYSE:ROK traded down $1.07 during trading hours on Tuesday, hitting $240.15. 7,317 shares of the company’s stock traded hands, compared to its average volume of 893,390. Rockwell Automation, Inc. has a 52 week low of $115.38 and a 52 week high of $267.48. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.01 and a current ratio of 1.31. The company’s fifty day simple moving average is $239.12 and its two-hundred day simple moving average is $221.57. The company has a market cap of $28.02 billion, a price-to-earnings ratio of 36.37, a price-to-earnings-growth ratio of 4.78 and a beta of 1.47.
Rockwell Automation (NYSE:ROK) last announced its earnings results on Sunday, November 15th. The industrial products company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.77 by $0.10. Rockwell Automation had a net margin of 11.85% and a return on equity of 105.45%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the company posted $2.01 earnings per share. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, analysts anticipate that Rockwell Automation, Inc. will post 7.54 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Monday, November 16th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 1.78%. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Friday, November 13th. Rockwell Automation’s dividend payout ratio (DPR) is presently 47.06%.
A number of research firms recently weighed in on ROK. Citigroup raised shares of Rockwell Automation from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $223.00 to $252.00 in a report on Tuesday, July 21st. Barclays increased their price objective on shares of Rockwell Automation from $250.00 to $274.00 and gave the stock an “overweight” rating in a report on Wednesday, November 11th. JPMorgan Chase & Co. increased their price objective on shares of Rockwell Automation from $155.00 to $188.00 and gave the stock an “underweight” rating in a report on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Rockwell Automation from $226.00 to $240.00 and gave the company a “hold” rating in a research report on Wednesday, November 11th. Finally, Zacks Investment Research upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $256.00 target price for the company in a research report on Friday. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $224.28.
In other Rockwell Automation news, SVP Christopher Nardecchia sold 319 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $245.73, for a total value of $78,387.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Patrick P. Goris sold 26,332 shares of the stock in a transaction that occurred on Friday, November 13th. The stock was sold at an average price of $238.18, for a total transaction of $6,271,755.76. Following the completion of the sale, the chief financial officer now directly owns 13,211 shares of the company’s stock, valued at $3,146,595.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,411 shares of company stock valued at $11,311,728. Corporate insiders own 0.77% of the company’s stock.
Rockwell Automation Company Profile
Rockwell Automation, Inc provides industrial automation and digital transformation solutions. It operates in two segments, Architecture & Software, and Control Products & Solutions. The Architecture & Software segment offers a portfolio of automation and information platforms, including hardware and software.
Further Reading: Death Cross
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