Summit Securities Group LLC purchased a new position in shares of Rockwell Automation, Inc. (NYSE:ROK) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,700 shares of the industrial products company’s stock, valued at approximately $481,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC boosted its holdings in Rockwell Automation by 166.3% during the second quarter. Acrospire Investment Management LLC now owns 799 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 499 shares during the last quarter. Rockefeller Financial Services Inc. purchased a new position in Rockwell Automation in the third quarter valued at about $143,000. Sun Life Financial INC boosted its stake in Rockwell Automation by 8,490.9% in the second quarter. Sun Life Financial INC now owns 945 shares of the industrial products company’s stock valued at $153,000 after acquiring an additional 934 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Rockwell Automation in the third quarter valued at about $186,000. Finally, Northstar Wealth Partners LLC purchased a new position in Rockwell Automation in the third quarter valued at about $202,000. Institutional investors and hedge funds own 73.61% of the company’s stock.
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In other Rockwell Automation news, VP David M. Dorgan sold 3,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the transaction, the vice president now directly owns 9,355 shares in the company, valued at $1,544,042.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sujeet Chand sold 9,500 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $165.13, for a total transaction of $1,568,735.00. Following the completion of the transaction, the senior vice president now owns 41,273 shares of the company’s stock, valued at $6,815,410.49. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,900 shares of company stock valued at $5,144,556. 1.65% of the stock is owned by insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Monday, November 13th will be paid a $0.835 dividend. This is a positive change from Rockwell Automation’s previous quarterly dividend of $0.76. This represents a $3.34 dividend on an annualized basis and a yield of 1.66%. Rockwell Automation’s dividend payout ratio is 49.03%.
A number of research analysts have weighed in on ROK shares. Zacks Investment Research cut shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Cowen and Company reiterated a “hold” rating and issued a $140.00 target price on shares of Rockwell Automation in a research note on Sunday, September 17th. ValuEngine upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Credit Suisse Group reiterated a “neutral” rating and issued a $174.00 target price (up from $154.00) on shares of Rockwell Automation in a research note on Wednesday, October 11th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $167.00 target price on shares of Rockwell Automation in a research note on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $164.07.
Rockwell Automation Profile
Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.
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