Rockwell Automation, Inc. (NYSE:ROK) Sees Large Decrease in Short Interest

Rockwell Automation, Inc. (NYSE:ROK) saw a significant decrease in short interest in July. As of July 31st, there was short interest totalling 2,390,000 shares, a decrease of 25.5% from the July 15th total of 3,210,000 shares. Based on an average daily trading volume, of 895,200 shares, the short-interest ratio is currently 2.7 days. Approximately 2.1% of the company’s shares are sold short.

Rockwell Automation Stock Performance

Shares of NYSE ROK traded up $0.92 during midday trading on Wednesday, hitting $261.17. 860,069 shares of the stock traded hands, compared to its average volume of 963,290. The firm has a market capitalization of $29.77 billion, a P/E ratio of 25.53, a PEG ratio of 4.71 and a beta of 1.37. Rockwell Automation has a one year low of $242.81 and a one year high of $317.74. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.11. The firm has a 50-day moving average of $265.36 and a two-hundred day moving average of $273.00.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.63. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. Rockwell Automation’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.01 earnings per share. On average, equities analysts forecast that Rockwell Automation will post 10.07 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 12th will be given a dividend of $1.25 per share. The ex-dividend date is Monday, August 12th. This represents a $5.00 annualized dividend and a yield of 1.91%. Rockwell Automation’s dividend payout ratio (DPR) is 48.88%.

Insider Buying and Selling

In other Rockwell Automation news, SVP Tessa M. Myers sold 528 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total transaction of $133,995.84. Following the transaction, the senior vice president now owns 3,718 shares in the company, valued at approximately $943,554.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Isaac Woods sold 297 shares of Rockwell Automation stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $256.38, for a total transaction of $76,144.86. Following the completion of the transaction, the vice president now directly owns 1,833 shares of the company’s stock, valued at approximately $469,944.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Tessa M. Myers sold 528 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total transaction of $133,995.84. Following the completion of the sale, the senior vice president now owns 3,718 shares in the company, valued at approximately $943,554.04. The disclosure for this sale can be found here. Insiders sold a total of 2,199 shares of company stock valued at $572,750 over the last three months. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ROK. Vanguard Group Inc. raised its stake in shares of Rockwell Automation by 3.2% in the first quarter. Vanguard Group Inc. now owns 14,048,986 shares of the industrial products company’s stock worth $4,092,891,000 after buying an additional 438,356 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Rockwell Automation by 951.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company’s stock worth $1,611,915,000 after acquiring an additional 5,006,706 shares in the last quarter. Lazard Asset Management LLC raised its stake in Rockwell Automation by 32.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,510,019 shares of the industrial products company’s stock worth $439,912,000 after acquiring an additional 365,795 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Rockwell Automation by 6.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 955,574 shares of the industrial products company’s stock valued at $278,387,000 after purchasing an additional 54,948 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its position in shares of Rockwell Automation by 82.4% in the first quarter. Champlain Investment Partners LLC now owns 859,717 shares of the industrial products company’s stock worth $250,461,000 after purchasing an additional 388,400 shares during the period. 75.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Robert W. Baird cut their price target on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Barclays cut their target price on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Loop Capital lowered their price target on Rockwell Automation from $300.00 to $290.00 and set a “hold” rating for the company in a research report on Tuesday, May 14th. TD Cowen cut 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, Wells Fargo & Company decreased their target price on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Rockwell Automation currently has a consensus rating of “Hold” and a consensus target price of $280.14.

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.