Rockwell Automation (ROK) Stock Price Down 5.3% After Insider Selling

Rockwell Automation (NYSE:ROK) fell 5.3% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $178.56 and last traded at $178.73. 1,264,254 shares changed hands during mid-day trading, an increase of 42% from the average session volume of 889,572 shares. The stock had previously closed at $188.78.

Specifically, CFO Patrick P. Goris sold 145 shares of Rockwell Automation stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $192.36, for a total value of $27,892.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Theodore D. Crandall sold 10,000 shares of Rockwell Automation stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $202.94, for a total value of $2,029,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 113,966 shares of company stock valued at $21,834,799 over the last three months. Corporate insiders own 1.65% of the company’s stock.

Several equities analysts have weighed in on ROK shares. Zacks Investment Research raised Rockwell Automation from a “hold” rating to a “buy” rating and set a $209.00 target price for the company in a research report on Tuesday, October 17th. downgraded Rockwell Automation from a “hold” rating to a “reduce” rating in a research report on Thursday, November 2nd. Oppenheimer reaffirmed a “hold” rating on shares of Rockwell Automation in a research report on Thursday, November 9th. Citigroup lifted their target price on Rockwell Automation from $187.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, November 10th. Finally, Wolfe Research raised Rockwell Automation from a “market perform” rating to an “outperform” rating in a research report on Monday, November 20th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $183.15.

The company has a market cap of $23,520.00, a P/E ratio of 64.22, a price-to-earnings-growth ratio of 2.13 and a beta of 1.17. The company has a quick ratio of 1.73, a current ratio of 1.98 and a debt-to-equity ratio of 0.57.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Wednesday, January 24th. The industrial products company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.22. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Rockwell Automation had a return on equity of 39.45% and a net margin of 5.85%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.75 earnings per share. sell-side analysts anticipate that Rockwell Automation will post 7.79 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Tuesday, February 20th will be paid a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a yield of 1.82%. The ex-dividend date is Friday, February 16th. Rockwell Automation’s payout ratio is 117.19%.

Rockwell Automation announced that its board has authorized a stock repurchase program on Wednesday, January 24th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

A number of hedge funds have recently bought and sold shares of the stock. First Republic Investment Management Inc. lifted its stake in Rockwell Automation by 7.7% during the fourth quarter. First Republic Investment Management Inc. now owns 11,607 shares of the industrial products company’s stock worth $2,279,000 after purchasing an additional 834 shares during the last quarter. Alpha Cubed Investments LLC purchased a new stake in Rockwell Automation during the fourth quarter worth approximately $242,000. Norinchukin Bank The lifted its stake in Rockwell Automation by 7.5% during the fourth quarter. Norinchukin Bank The now owns 10,275 shares of the industrial products company’s stock worth $2,017,000 after purchasing an additional 720 shares during the last quarter. American International Group Inc. lifted its stake in Rockwell Automation by 7.9% during the fourth quarter. American International Group Inc. now owns 57,987 shares of the industrial products company’s stock worth $11,386,000 after purchasing an additional 4,249 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its stake in Rockwell Automation by 54.4% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,135 shares of the industrial products company’s stock worth $223,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 72.75% of the company’s stock.

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About Rockwell Automation

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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