KBC Group NV Sells 63,541 Shares of Rockwell Automation, Inc. (NYSE:ROK)

KBC Group NV trimmed its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 74.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,054 shares of the industrial products company’s stock after selling 63,541 shares during the quarter. KBC Group NV’s holdings in Rockwell Automation were worth $5,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of ROK. Pathway Financial Advisers LLC bought a new position in shares of Rockwell Automation in the first quarter worth approximately $26,000. Richardson Financial Services Inc. boosted its position in Rockwell Automation by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after buying an additional 48 shares during the period. Ashton Thomas Securities LLC bought a new stake in Rockwell Automation in the 3rd quarter worth $26,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Rockwell Automation in the second quarter valued at about $36,000. Finally, Cultivar Capital Inc. bought a new position in shares of Rockwell Automation during the second quarter valued at about $46,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $266.86, for a total transaction of $154,511.94. Following the completion of the sale, the senior vice president now directly owns 4,576 shares in the company, valued at approximately $1,221,151.36. This trade represents a 11.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.68% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on ROK. UBS Group assumed coverage on Rockwell Automation in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 target price on the stock. Morgan Stanley boosted their target price on Rockwell Automation from $320.00 to $335.00 and gave the company an “overweight” rating in a research note on Friday. Bank of America raised their price target on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. TD Cowen reduced their price objective on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Finally, 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. Three investment 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $286.13.

Rockwell Automation Trading Down 0.1 %

Shares of NYSE ROK opened at $286.15 on Monday. The stock has a market cap of $32.31 billion, a P/E ratio of 34.56, a price-to-earnings-growth ratio of 2.95 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 1.17. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76. The firm has a 50-day moving average of $269.16 and a 200 day moving average of $266.82.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the business posted $3.64 EPS. The firm’s quarterly revenue was down 20.6% compared to the same quarter last year. As a group, sell-side analysts expect that Rockwell Automation, Inc. will post 9.54 EPS for the current fiscal year.

Rockwell Automation announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are usually 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. Stockholders of record on Monday, November 18th will be issued a dividend of $1.31 per share. The ex-dividend date is Monday, November 18th. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a dividend yield of 1.83%. Rockwell Automation’s dividend payout ratio (DPR) is presently 60.39%.

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.