Summit Asset Management LLC Buys 600 Shares of Rockwell Automation, Inc. $ROK

Summit Asset Management LLC lifted its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 11.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,644 shares of the industrial products company’s stock after purchasing an additional 600 shares during the quarter. Summit Asset Management LLC’s holdings in Rockwell Automation were worth $1,875,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in shares of Rockwell Automation during the fourth quarter worth $281,000. Envestnet Asset Management Inc. grew its position in Rockwell Automation by 46.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 279,852 shares of the industrial products company’s stock worth $72,308,000 after acquiring an additional 88,713 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new position in Rockwell Automation in the 1st quarter worth about $240,000. Rehmann Capital Advisory Group raised its position in Rockwell Automation by 8.6% in the first quarter. Rehmann Capital Advisory Group now owns 1,332 shares of the industrial products company’s stock valued at $344,000 after purchasing an additional 105 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Rockwell Automation during the first quarter valued at about $31,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Automation Trading Up 0.3%

NYSE:ROK opened at $373.67 on Friday. Rockwell Automation, Inc. has a 52 week low of $215.00 and a 52 week high of $396.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.06. The firm’s fifty day moving average is $349.71 and its 200-day moving average is $332.06. The firm has a market cap of $42.01 billion, a P/E ratio of 43.86, a P/E/G ratio of 3.30 and a beta of 1.45.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Thursday, November 6th. The industrial products company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.40. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.19 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. Rockwell Automation’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.47 earnings per share. Rockwell Automation has set its FY 2026 guidance at 11.200-12.200 EPS. Equities analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 17th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.5%. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.31. Rockwell Automation’s dividend payout ratio (DPR) is presently 64.79%.

Insider Activity at Rockwell Automation

In related news, SVP Cyril Perducat sold 1,435 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $348.08, for a total transaction of $499,494.80. Following the completion of the sale, the senior vice president owned 3,787 shares of the company’s stock, valued at $1,318,178.96. This trade represents a 27.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Matheus De A. G. Viera Bulho sold 822 shares of Rockwell Automation stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $365.00, for a total value of $300,030.00. Following the completion of the sale, the senior vice president owned 983 shares of the company’s stock, valued at approximately $358,795. The trade was a 45.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 30,375 shares of company stock worth $10,661,109 over the last quarter. 0.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ROK shares. Bank of America raised Rockwell Automation from a “neutral” rating to a “buy” rating and upped their price objective for the company from $360.00 to $410.00 in a research note on Wednesday, July 16th. Stephens reissued an “overweight” rating and set a $375.00 target price (up from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. KeyCorp upped their price target on shares of Rockwell Automation from $370.00 to $380.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Oppenheimer reiterated an “outperform” rating and set a $391.00 price target on shares of Rockwell Automation in a report on Friday. Finally, Citigroup reissued a “buy” rating on shares of Rockwell Automation in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $353.39.

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.