Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC trimmed its position in Rockwell Automation, Inc. (NYSE:ROK) by 14.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,104 shares of the industrial products company’s stock after selling 352 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Rockwell Automation were worth $565,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ROK. Pathway Financial Advisers LLC acquired a new position in Rockwell Automation in the 1st quarter valued at about $26,000. Richardson Financial Services Inc. boosted its holdings in Rockwell Automation by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 48 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Rockwell Automation in the 3rd quarter valued at about $26,000. Darwin Wealth Management LLC acquired a new position in shares of Rockwell Automation in the 3rd quarter worth approximately $34,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Rockwell Automation in the 2nd quarter worth approximately $36,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Rockwell Automation

In related news, VP John M. Miller sold 467 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $284.07, for a total value of $132,660.69. Following the transaction, the vice president now directly owns 4,800 shares of the company’s stock, valued at $1,363,536. This trade represents a 8.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Cyril Perducat sold 1,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,630 shares in the company, valued at $1,089,000. This trade represents a 21.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,746 shares of company stock valued at $8,560,594. Insiders own 0.68% of the company’s stock.

Rockwell Automation Trading Down 0.4 %

Shares of NYSE:ROK opened at $294.95 on Thursday. Rockwell Automation, Inc. has a 52 week low of $242.81 and a 52 week high of $312.76. The company’s 50 day moving average is $273.42 and its two-hundred day moving average is $267.67. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The company has a market cap of $33.30 billion, a PE ratio of 35.62, a P/E/G ratio of 3.11 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the firm posted $3.64 EPS. The company’s quarterly revenue was down 20.6% compared to the same quarter last year. Equities analysts predict that Rockwell Automation, Inc. will post 9.44 earnings per share for the current fiscal year.

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

Rockwell Automation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $1.31 dividend. The ex-dividend date of this dividend is Monday, November 18th. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.78%. Rockwell Automation’s dividend payout ratio is currently 63.29%.

Analyst Ratings Changes

ROK has been the topic of several recent analyst reports. Mizuho upped their price objective on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. UBS Group initiated coverage on shares of Rockwell Automation in a report on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 price objective on the stock. Oppenheimer upped their price objective on shares of Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Robert W. Baird upped their price objective on shares of Rockwell Automation from $290.00 to $305.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Wells Fargo & Company upped their price objective on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $287.13.

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.