Keith D. Nosbusch Sells 8,024 Shares of Rockwell Automation (ROK) Stock

Rockwell Automation (NYSE:ROK) Director Keith D. Nosbusch sold 8,024 shares of Rockwell Automation stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $176.24, for a total transaction of $1,414,149.76. Following the transaction, the director now directly owns 430,330 shares of the company’s stock, valued at $75,841,359.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

ROK traded down $4.27 during midday trading on Friday, hitting $162.98. The company had a trading volume of 24,256 shares, compared to its average volume of 825,062. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $20.69 billion, a PE ratio of 20.19, a PEG ratio of 1.63 and a beta of 1.29. Rockwell Automation has a twelve month low of $153.67 and a twelve month high of $209.38.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.09. Rockwell Automation had a net margin of 8.03% and a return on equity of 57.53%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the company posted $1.69 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, research analysts predict that Rockwell Automation will post 9.03 EPS for the current year.

Rockwell Automation announced that its Board of Directors has approved a stock repurchase program on Thursday, September 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 4.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 12th will be given a dividend of $0.97 per share. This is a boost from Rockwell Automation’s previous quarterly dividend of $0.92. The ex-dividend date is Thursday, November 8th. This represents a $3.88 annualized dividend and a dividend yield of 2.38%. Rockwell Automation’s payout ratio is currently 47.84%.

Several large investors have recently modified their holdings of the company. Alecta Pensionsforsakring Omsesidigt grew its position in shares of Rockwell Automation by 14.7% during the 3rd quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,728,265 shares of the industrial products company’s stock worth $511,632,000 after buying an additional 350,000 shares during the period. Franklin Resources Inc. grew its position in shares of Rockwell Automation by 7.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,847,004 shares of the industrial products company’s stock worth $346,362,000 after buying an additional 128,265 shares during the period. Wells Fargo & Company MN grew its position in shares of Rockwell Automation by 7.4% during the 3rd quarter. Wells Fargo & Company MN now owns 1,466,948 shares of the industrial products company’s stock worth $275,082,000 after buying an additional 101,289 shares during the period. Bank of America Corp DE grew its position in shares of Rockwell Automation by 23.2% during the 2nd quarter. Bank of America Corp DE now owns 1,224,685 shares of the industrial products company’s stock worth $203,581,000 after buying an additional 230,688 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Rockwell Automation by 17.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,106,721 shares of the industrial products company’s stock worth $207,533,000 after buying an additional 164,984 shares during the period. Institutional investors own 75.18% of the company’s stock.

ROK has been the subject of several analyst reports. Citigroup set a $185.00 price target on shares of Rockwell Automation and gave the company a “hold” rating in a report on Thursday, November 8th. Wells Fargo & Co cut their price target on shares of Rockwell Automation from $210.00 to $205.00 and set an “outperform” rating for the company in a report on Thursday, November 8th. Zacks Investment Research raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $183.00 price target for the company in a report on Tuesday, October 23rd. Cowen downgraded shares of Rockwell Automation from a “market perform” rating to an “underperform” rating and cut their price target for the company from $175.00 to $150.00 in a report on Monday, October 15th. Finally, Credit Suisse Group lifted their price target on shares of Rockwell Automation from $171.00 to $173.00 and gave the company an “underperform” rating in a report on Thursday, November 8th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $178.87.

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About Rockwell Automation

Rockwell Automation Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.

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