Summit Asset Management LLC Acquires 670 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Summit Asset Management LLC raised its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 17.3% in the fourth quarter, HoldingsChannel reports. The firm owned 4,544 shares of the industrial products company’s stock after buying an additional 670 shares during the quarter. Summit Asset Management LLC’s holdings in Rockwell Automation were worth $1,299,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in Rockwell Automation during the 3rd quarter valued at approximately $26,000. Richardson Financial Services Inc. raised 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 purchasing an additional 48 shares during the last quarter. West Oak Capital LLC raised its position in Rockwell Automation by 455.6% during the 4th quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 82 shares during the last quarter. Bank of Jackson Hole Trust bought a new position in shares of Rockwell Automation in the 4th quarter worth approximately $34,000. Finally, Darwin Wealth Management LLC bought a new position in shares of Rockwell Automation in the 3rd quarter worth approximately $34,000. Institutional investors own 75.75% of the company’s stock.

Insider Buying and Selling

In other Rockwell Automation news, VP Scott Genereux sold 278 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $302.04, for a total transaction of $83,967.12. Following the sale, the vice president now directly owns 3,184 shares of the company’s stock, valued at $961,695.36. This trade represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Isaac Woods sold 895 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $274.72, for a total value of $245,874.40. Following the sale, the vice president now directly owns 1,198 shares in the company, valued at approximately $329,114.56. This represents a 42.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,240 shares of company stock valued at $10,800,555. 0.68% of the stock is owned by company insiders.

Rockwell Automation Stock Performance

ROK stock opened at $294.95 on Friday. The company has a market cap of $33.35 billion, a P/E ratio of 36.73, a price-to-earnings-growth ratio of 3.53 and a beta of 1.35. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $308.70. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.08 and a quick ratio of 0.72. The stock’s fifty day moving average price is $286.31 and its 200-day moving average price is $277.35.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. On average, equities analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Tuesday, February 18th will be issued a $1.31 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.78%. Rockwell Automation’s dividend payout ratio is currently 65.26%.

Analyst Upgrades and Downgrades

ROK has been the subject of several research reports. Oppenheimer increased their target price on Rockwell Automation from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Wells Fargo & Company increased their target price on Rockwell Automation from $315.00 to $337.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Stephens raised Rockwell Automation from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $275.00 to $350.00 in a research report on Thursday, January 16th. The Goldman Sachs Group increased their target price on Rockwell Automation from $257.00 to $290.00 and gave the stock a “sell” rating in a research report on Tuesday, February 11th. Finally, Morgan Stanley increased their target price on Rockwell Automation from $335.00 to $345.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Rockwell Automation has an average rating of “Hold” and a consensus target price of $308.05.

About Rockwell Automation

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.