Texas Capital Bank Wealth Management Services Inc Purchases New Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Rockwell Automation, Inc. (NYSE:ROK) in the 3rd quarter, Holdings Channel reports. The fund purchased 1,144 shares of the industrial products company’s stock, valued at approximately $307,000.

Several other large investors have also recently bought and sold shares of the stock. Prospera Financial Services Inc boosted its position in Rockwell Automation by 0.9% during the third quarter. Prospera Financial Services Inc now owns 4,033 shares of the industrial products company’s stock valued at $1,083,000 after purchasing an additional 37 shares during the last quarter. Pure Financial Advisors LLC raised its stake in Rockwell Automation by 2.7% in the second quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock valued at $444,000 after buying an additional 42 shares during the period. Great Valley Advisor Group Inc. raised its stake in Rockwell Automation by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 1,928 shares of the industrial products company’s stock valued at $518,000 after buying an additional 42 shares during the period. Concurrent Investment Advisors LLC raised its stake in Rockwell Automation by 4.7% in the second quarter. Concurrent Investment Advisors LLC now owns 990 shares of the industrial products company’s stock valued at $272,000 after buying an additional 44 shares during the period. Finally, 9258 Wealth Management LLC raised its stake in Rockwell Automation by 3.1% in the second quarter. 9258 Wealth Management LLC now owns 1,501 shares of the industrial products company’s stock valued at $413,000 after buying an additional 45 shares during the period. 75.75% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Trading Down 0.6 %

Shares of NYSE:ROK opened at $295.38 on Friday. The company has a market capitalization of $33.35 billion, a P/E ratio of 35.67, a P/E/G ratio of 3.06 and a beta of 1.36. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 0.72. The business’s 50 day simple moving average is $277.18 and its 200 day simple moving average is $268.69.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The firm’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.64 earnings per share. On average, research analysts anticipate that Rockwell Automation, Inc. will post 9.39 EPS for the current fiscal year.

Rockwell Automation announced that its board has authorized a stock buyback plan on Thursday, September 5th that permits the company to buyback $1.00 billion in outstanding 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 generally an indication that the company’s leadership believes its stock is undervalued.

Rockwell Automation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.77%. 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. Rockwell Automation’s dividend payout ratio (DPR) is currently 63.29%.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $266.86, for a total value of $154,511.94. Following the sale, the senior vice president now owns 4,576 shares of the company’s stock, valued at approximately $1,221,151.36. This trade represents a 11.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Blake D. Moret sold 26,700 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $298.63, for a total value of $7,973,421.00. Following the completion of the sale, the chief executive officer now directly owns 78,115 shares in the company, valued at approximately $23,327,482.45. This represents a 25.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,070 shares of company stock valued at $10,142,408. 0.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ROK has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Mizuho upped their price objective on Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley increased their target price on Rockwell Automation from $320.00 to $335.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Robert W. Baird increased their target price on Rockwell Automation from $290.00 to $305.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Finally, Bank of America increased their target price on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Rockwell Automation presently has a consensus rating of “Hold” and an average price target of $289.47.

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.