Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc reduced its position in Rockwell Automation, Inc. (NYSE:ROK) by 8.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 846 shares of the industrial products company’s stock after selling 80 shares during the quarter. AdvisorNet Financial Inc’s holdings in Rockwell Automation were worth $233,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new position in Rockwell Automation in the 1st quarter valued at $26,000. Riverview Trust Co acquired a new stake in shares of Rockwell Automation in the 1st quarter worth $28,000. Bfsg LLC acquired a new stake in shares of Rockwell Automation in the 1st quarter worth $29,000. ESL Trust Services LLC acquired a new stake in shares of Rockwell Automation in the 1st quarter worth $29,000. Finally, Security National Bank acquired a new stake in shares of Rockwell Automation in the 4th quarter worth $40,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Cyril Perducat sold 659 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $260.11, for a total value of $171,412.49. Following the sale, the senior vice president now owns 4,630 shares of the company’s stock, valued at approximately $1,204,309.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Rockwell Automation news, VP Isaac Woods sold 297 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $256.38, for a total value of $76,144.86. Following the transaction, the vice president now owns 1,833 shares in the company, valued at $469,944.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Cyril Perducat sold 659 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $260.11, for a total value of $171,412.49. Following the completion of the transaction, the senior vice president now owns 4,630 shares in the company, valued at approximately $1,204,309.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,732 shares of company stock valued at $445,133. Insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Redburn Atlantic assumed coverage on Rockwell Automation in a research note on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price for the company. Oppenheimer cut their target price on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company cut their target price on Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Barclays reduced their price objective on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. Finally, Citigroup dropped their target price on Rockwell Automation from $322.00 to $316.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Rockwell Automation currently has an average rating of “Hold” and an average target price of $280.14.

Rockwell Automation Price Performance

Shares of ROK traded up $3.61 during trading hours on Thursday, reaching $264.78. 399,221 shares of the company traded hands, compared to its average volume of 959,353. The company has a quick ratio of 0.74, a current ratio of 1.11 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $30.19 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 4.71 and a beta of 1.37. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $317.74. The stock has a fifty day simple moving average of $265.36 and a 200 day simple moving average of $273.00.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.63. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.01 earnings per share. As a group, research analysts predict that Rockwell Automation, Inc. will post 10.07 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be given a $1.25 dividend. The ex-dividend date is Monday, August 12th. This represents a $5.00 annualized dividend and a dividend yield of 1.89%. Rockwell Automation’s payout ratio is 48.88%.

Rockwell Automation 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.