WoodTrust Financial Corp Has $1.66 Million Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

07 Nov 2024, 14:04 by Tristan Rich · The Markets Daily

WoodTrust Financial Corp trimmed its position in Rockwell Automation, Inc. (NYSE:ROK – Free Report) by 17.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,178 shares of the industrial products company’s stock after selling 1,270 shares during the quarter. WoodTrust Financial Corp’s holdings in Rockwell Automation were worth $1,658,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in Rockwell Automation by 951.4% during the first 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 during the period. International Assets Investment Management LLC increased its position in Rockwell Automation by 29,591.7% during the third quarter. International Assets Investment Management LLC now owns 936,178 shares of the industrial products company’s stock worth $251,326,000 after acquiring an additional 933,025 shares during the period. Van ECK Associates Corp increased its position in Rockwell Automation by 1,119.3% during the second quarter. Van ECK Associates Corp now owns 763,351 shares of the industrial products company’s stock worth $210,135,000 after acquiring an additional 700,745 shares during the period. Vanguard Group Inc. increased its position in Rockwell Automation by 3.2% during 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 acquiring an additional 438,356 shares during the period. Finally, Swedbank AB bought a new position in Rockwell Automation during the first quarter worth $118,345,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ROK shares. Wells Fargo & Company increased their price objective on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. TD Cowen dropped their price objective on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Morgan Stanley started coverage on shares of Rockwell Automation in a research note on Friday, September 6th. They issued an “overweight” rating and a $320.00 price objective for the company. Mizuho increased their price objective on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Bank of America increased their price objective on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Rockwell Automation currently has a consensus rating of “Hold” and an average price target of $281.93.

Read Our Latest Research Report on ROK

Insider Activity at Rockwell Automation

In related news, SVP Veena M. Lakkundi sold 579 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $266.86, for a total value of $154,511.94. Following the completion of the transaction, the senior vice president now directly owns 4,576 shares of the company’s stock, valued at approximately $1,221,151.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.68% of the stock is owned by company insiders.

Rockwell Automation Price Performance

NYSE ROK opened at $294.00 on Thursday. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76. The company has a market capitalization of $33.36 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. The firm’s 50 day moving average is $266.71 and its 200-day moving average is $266.63.

Rockwell Automation (NYSE:ROK – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.63. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the company earned $3.01 earnings per share. The firm’s revenue was down 8.4% compared to the same quarter last year. Equities research analysts anticipate that Rockwell Automation, Inc. will post 9.65 earnings per share for the current fiscal year.

Rockwell Automation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a $1.31 dividend. The ex-dividend date of this dividend is Monday, November 18th. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a dividend yield of 1.78%. Rockwell Automation’s dividend payout ratio (DPR) is currently 56.82%.

Rockwell Automation declared that its board has approved a share buyback plan on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 3.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Rockwell Automation

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