Bank of Nova Scotia bought a new position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 16,143 shares of the industrial products company's stock, valued at approximately $7,992,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Virtus Advisers LLC bought a new position in shares of Rockwell Automation in the second quarter worth approximately $25,000. MV Capital Management Inc. bought a new stake in shares of Rockwell Automation during the 4th quarter valued at $28,000. Manchester Capital Management LLC raised its position in shares of Rockwell Automation by 97.5% during the 4th quarter. Manchester Capital Management LLC now owns 79 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 39 shares during the period. BOK Financial Private Wealth Inc. purchased a new position in shares of Rockwell Automation during the 4th quarter valued at $33,000. Finally, TD Capital Management LLC purchased a new position in shares of Rockwell Automation in the fourth quarter valued at about $33,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.
Rockwell Automation Trading Down 1.7%
Shares of ROK opened at $429.60 on Tuesday. The stock has a market capitalization of $47.71 billion, a PE ratio of 40.26, a P/E/G ratio of 2.55 and a beta of 1.54. The company's fifty day moving average is $461.30 and its 200 day moving average is $426.98. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.74 and a current ratio of 1.08. Rockwell Automation, Inc. has a fifty-two week low of $332.71 and a fifty-two week high of $497.36.
Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $3.49 EPS for the quarter, topping analysts' consensus estimates of $3.38 by $0.11. The business had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.24 billion. Rockwell Automation had a net margin of 13.39% and a return on equity of 39.83%. The business's revenue was up 7.9% on a year-over-year basis. During the same period last year, the company posted $2.82 EPS. Rockwell Automation has set its FY 2026 guidance at 13.000-13.300 EPS. Sell-side analysts expect that Rockwell Automation, Inc. will post 13.21 earnings per share for the current fiscal year.
Rockwell Automation Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, August 17th. This represents a $5.52 dividend on an annualized basis and a yield of 1.3%. Rockwell Automation's dividend payout ratio is 51.73%.
Rockwell Automation announced that its board has authorized a share buyback program on Tuesday, June 9th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. Morgan Stanley reiterated an "overweight" rating and set a $525.00 target price on shares of Rockwell Automation in a research report on Wednesday, May 6th. Wall Street Zen lowered shares of Rockwell Automation from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Evercore set a $485.00 price objective on shares of Rockwell Automation in a research report on Wednesday, August 5th. KeyCorp boosted their target price on shares of Rockwell Automation from $470.00 to $510.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group raised their target price on shares of Rockwell Automation from $448.00 to $487.00 in a research note on Wednesday, May 6th. Nine research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Rockwell Automation has a consensus rating of "Hold" and a consensus target price of $468.19.
View Our Latest Analysis on Rockwell Automation
Insider Buying and Selling
In related news, CFO Christian E. Rothe sold 590 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $434.30, for a total value of $256,237.00. Following the completion of the sale, the chief financial officer directly owned 10,429 shares in the company, valued at $4,529,314.70. This trade represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Matthew W. Fordenwalt sold 377 shares of Rockwell Automation stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $460.51, for a total transaction of $173,612.27. Following the transaction, the senior vice president directly owned 4,437 shares of the company's stock, valued at $2,043,282.87. The trade was a 7.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 1,185 shares of company stock valued at $529,331. Company insiders own 0.76% of the company's stock.
About Rockwell Automation
(
Free Report)
Rockwell Automation is a global industrial automation and digital transformation company headquartered in Milwaukee, Wisconsin. The firm designs, manufactures and supports control systems, industrial control hardware and software, and related services that help manufacturers and industrial operators automate processes, improve productivity and enable data-driven decision making. Rockwell traces its heritage to the Allen-Bradley and Rockwell automation businesses and positions itself as a provider of integrated automation solutions across discrete and process industries.
The company's product portfolio includes programmable logic controllers (PLCs), human-machine interfaces (HMIs), variable frequency drives, sensors, safety components and other industrial control hardware, often marketed under the Allen-Bradley brand.
Further Reading
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