Rockwell Automation, Inc. (NYSE:ROK) Shares Acquired by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC increased its position in Rockwell Automation, Inc. (NYSE:ROK) by 775.7% in the 3rd quarter, Holdings Channel reports. The firm owned 6,857 shares of the industrial products company’s stock after buying an additional 6,074 shares during the period. Icon Wealth Advisors LLC’s holdings in Rockwell Automation were worth $1,841,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Rockwell Automation by 33.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,556,292 shares of the industrial products company’s stock valued at $417,802,000 after buying an additional 390,784 shares during the last quarter. Accredited Investors Inc. raised its position in Rockwell Automation by 162,058.5% in the 3rd quarter. Accredited Investors Inc. now owns 1,185,379 shares of the industrial products company’s stock valued at $318,227,000 after purchasing an additional 1,184,648 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Rockwell Automation by 4.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 986,849 shares of the industrial products company’s stock valued at $264,929,000 after purchasing an additional 41,605 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Rockwell Automation by 29,591.7% during the 3rd quarter. International Assets Investment Management LLC now owns 936,178 shares of the industrial products company’s stock worth $251,326,000 after purchasing an additional 933,025 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Rockwell Automation by 6.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 842,012 shares of the industrial products company’s stock worth $231,789,000 after purchasing an additional 48,951 shares during the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ROK has been the subject of several recent research reports. UBS Group assumed coverage on shares of Rockwell Automation in a research note on Wednesday, November 13th. They set a “neutral” rating and a $313.00 target price for the company. Oppenheimer increased their price objective on Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Mizuho lifted their target price on Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays upped their price target on Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Finally, TD Cowen lowered 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. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Rockwell Automation presently has an average rating of “Hold” and an average price target of $286.13.

Rockwell Automation Trading Up 4.5 %

Shares of Rockwell Automation stock opened at $290.78 on Friday. The company has a 50-day moving average of $271.38 and a two-hundred day moving average of $267.20. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The stock has a market cap of $32.83 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 2.89 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.07. The firm had revenue of $2.04 billion during 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%. Rockwell Automation’s quarterly revenue was down 20.6% on a year-over-year basis. During the same period last year, the business posted $3.64 EPS. On average, research analysts anticipate that Rockwell Automation, Inc. will post 9.46 EPS for the current fiscal year.

Rockwell Automation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a dividend yield of 1.80%. 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 payout ratio is 63.29%.

Rockwell Automation declared that its Board of Directors has authorized a stock repurchase plan on Thursday, September 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 3.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $266.86, for a total transaction of $154,511.94. Following the completion of the transaction, the senior vice president now directly owns 4,576 shares in the company, valued at $1,221,151.36. The trade was a 11.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John M. Miller sold 467 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $284.07, for a total value of $132,660.69. Following the completion of the sale, the vice president now directly owns 4,800 shares in the company, valued at approximately $1,363,536. The trade was a 8.87 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

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.