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

Summit Asset Management LLC increased its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 11.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,644 shares of the industrial products company’s stock after buying an additional 600 shares during the quarter. Summit Asset Management LLC’s holdings in Rockwell Automation were worth $1,875,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in shares of Rockwell Automation in the 4th quarter worth $281,000. Envestnet Asset Management Inc. raised its holdings in Rockwell Automation by 46.4% during the first quarter. Envestnet Asset Management Inc. now owns 279,852 shares of the industrial products company’s stock worth $72,308,000 after buying an additional 88,713 shares during the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in shares of Rockwell Automation in the first quarter valued at $240,000. Rehmann Capital Advisory Group grew its holdings in shares of Rockwell Automation by 8.6% during the first quarter. Rehmann Capital Advisory Group now owns 1,332 shares of the industrial products company’s stock valued at $344,000 after buying an additional 105 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Rockwell Automation during the first quarter worth about $31,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

Shares of Rockwell Automation stock opened at $373.67 on Friday. The business’s fifty day simple moving average is $349.71 and its 200 day simple moving average is $332.06. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. Rockwell Automation, Inc. has a 12 month low of $215.00 and a 12 month high of $396.89. The firm has a market capitalization of $42.01 billion, a P/E ratio of 43.86, a price-to-earnings-growth ratio of 3.30 and a beta of 1.45.

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

Rockwell Automation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 17th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.5%. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.31. The ex-dividend date is Monday, November 17th. Rockwell Automation’s dividend payout ratio is 64.79%.

Insiders Place Their Bets

In other Rockwell Automation news, CEO Blake D. Moret sold 24,400 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $350.13, for a total value of $8,543,172.00. Following the transaction, the chief executive officer directly owned 83,873 shares in the company, valued at $29,366,453.49. The trade was a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Cyril Perducat sold 1,435 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $348.08, for a total transaction of $499,494.80. Following the transaction, the senior vice president directly owned 3,787 shares of the company’s stock, valued at $1,318,178.96. This represents a 27.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 30,375 shares of company stock valued at $10,661,109. Company insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ROK. Stephens reaffirmed an “overweight” rating and issued a $375.00 price target (up previously from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. Bank of America upgraded Rockwell Automation from a “neutral” rating to a “buy” rating and raised their target price for the company from $360.00 to $410.00 in a report on Wednesday, July 16th. Wall Street Zen upgraded Rockwell Automation from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Citigroup reissued a “buy” rating on shares of Rockwell Automation in a research report on Thursday, October 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Rockwell Automation from $320.00 to $357.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.