1776 Wealth LLC Sells 79 Shares of Rockwell Automation, Inc. (NYSE:ROK)

1776 Wealth LLC trimmed its position in Rockwell Automation, Inc. (NYSE:ROK) by 6.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,068 shares of the industrial products company’s stock after selling 79 shares during the period. 1776 Wealth LLC’s holdings in Rockwell Automation were worth $287,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ROK. Headlands Technologies LLC bought a new position in shares of Rockwell Automation in the 1st quarter valued at $66,000. Russell Investments Group Ltd. lifted its stake in shares of Rockwell Automation by 18.8% in the 1st quarter. Russell Investments Group Ltd. now owns 49,947 shares of the industrial products company’s stock valued at $14,550,000 after acquiring an additional 7,919 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Rockwell Automation by 15.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 3,294 shares of the industrial products company’s stock valued at $960,000 after acquiring an additional 429 shares during the last quarter. Kingsview Wealth Management LLC raised its position in Rockwell Automation by 5.5% during the 1st quarter. Kingsview Wealth Management LLC now owns 2,730 shares of the industrial products company’s stock worth $795,000 after purchasing an additional 142 shares during the last quarter. Finally, Orion Portfolio Solutions LLC raised its position in Rockwell Automation by 4.0% during the 1st quarter. Orion Portfolio Solutions LLC now owns 9,710 shares of the industrial products company’s stock worth $2,829,000 after purchasing an additional 377 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rockwell Automation

In other news, SVP Veena M. Lakkundi sold 579 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $266.86, for a total value of $154,511.94. Following the transaction, the senior vice president now owns 4,576 shares in the company, valued at $1,221,151.36. The trade was a 11.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Barclays raised their target price on Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lowered their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Mizuho raised their target price on Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. BNP Paribas assumed coverage on Rockwell Automation in a research report on Wednesday. They set an “outperform” rating and a $345.00 target price for the company. Finally, Bank of America raised their target price on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $286.13.

Rockwell Automation Stock Down 0.1 %

Shares of ROK traded down $0.28 during trading hours on Friday, hitting $286.15. The stock had a trading volume of 1,110,722 shares, compared to its average volume of 883,885. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 1.17. The firm has a 50 day simple moving average of $269.16 and a 200-day simple moving average of $266.87. The firm has a market capitalization of $32.31 billion, a P/E ratio of 34.56, a price-to-earnings-growth ratio of 2.98 and a beta of 1.36. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76.

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

Rockwell Automation declared that its Board of Directors has authorized a share repurchase program on Thursday, September 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Rockwell Automation Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.31 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.83%. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s payout ratio is 60.39%.

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.