Short Interest in Rockwell Automation, Inc. (ROK) Decreases By 35.2%
Rockwell Automation, Inc. (NYSE:ROK) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 1,009,136 shares, a drop of 35.2% from the October 31st total of 1,556,516 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 936,268 shares, the days-to-cover ratio is presently 1.1 days.
In other Rockwell Automation news, insider Blake D. Moret sold 1,723 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $170.06, for a total transaction of $293,013.38. Following the sale, the insider now owns 22,849 shares of the company’s stock, valued at approximately $3,885,700.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Blake D. Moret sold 5,677 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $170.10, for a total value of $965,657.70. Following the completion of the sale, the insider now directly owns 21,426 shares of the company’s stock, valued at approximately $3,644,562.60. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Keel Point LLC raised its holdings in shares of Rockwell Automation by 0.3% during the second quarter. Keel Point LLC now owns 1,724 shares of the industrial products company’s stock valued at $279,000 after acquiring an additional 6 shares during the period. Sfmg LLC increased its position in shares of Rockwell Automation by 0.4% during the 2nd quarter. Sfmg LLC now owns 1,796 shares of the industrial products company’s stock worth $291,000 after purchasing an additional 8 shares in the last quarter. Advisor Partners LLC increased its position in shares of Rockwell Automation by 0.3% during the 2nd quarter. Advisor Partners LLC now owns 2,567 shares of the industrial products company’s stock worth $416,000 after purchasing an additional 8 shares in the last quarter. Westside Investment Management Inc. increased its position in shares of Rockwell Automation by 0.5% during the 2nd quarter. Westside Investment Management Inc. now owns 1,666 shares of the industrial products company’s stock worth $274,000 after purchasing an additional 9 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. increased its position in shares of Rockwell Automation by 0.3% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 3,928 shares of the industrial products company’s stock worth $636,000 after purchasing an additional 10 shares in the last quarter. 73.04% of the stock is owned by hedge funds and other institutional investors.
Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $1.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.72 by ($0.03). The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.67 billion. Rockwell Automation had a net margin of 13.08% and a return on equity of 38.67%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $1.52 earnings per share. research analysts forecast that Rockwell Automation will post 7.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Monday, November 13th will be paid a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a yield of 1.73%. This is a positive change from Rockwell Automation’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, November 10th. Rockwell Automation’s payout ratio is presently 52.68%.
A number of research firms recently commented on ROK. Zacks Investment Research upgraded Rockwell Automation from a “hold” rating to a “buy” rating and set a $209.00 price objective on the stock in a report on Tuesday, October 17th. ValuEngine raised Rockwell Automation from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. Morgan Stanley reissued an “equal weight” rating and issued a $173.00 target price (up previously from $168.00) on shares of Rockwell Automation in a report on Monday, October 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $183.00 target price on shares of Rockwell Automation in a report on Thursday, October 12th. Finally, Oppenheimer restated a “hold” rating on shares of Rockwell Automation in a research note on Friday, August 18th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $165.00.
Rockwell Automation Company 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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