Summit Asset Management LLC Makes New $2.85 Million Investment in Rockwell Automation, Inc. $ROK

Summit Asset Management LLC bought a new stake in Rockwell Automation, Inc. (NYSE:ROK) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 5,767 shares of the industrial products company’s stock, valued at approximately $2,855,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ROK. Mandatum Life Insurance Co Ltd increased its stake in Rockwell Automation by 26.9% in the first quarter. Mandatum Life Insurance Co Ltd now owns 22,200 shares of the industrial products company’s stock valued at $7,967,000 after acquiring an additional 4,700 shares during the last quarter. Brighton Jones LLC bought a new stake in Rockwell Automation during the fourth quarter worth $281,000. Handelsbanken Fonder AB lifted its stake in Rockwell Automation by 24.6% during the fourth quarter. Handelsbanken Fonder AB now owns 169,457 shares of the industrial products company’s stock worth $65,931,000 after purchasing an additional 33,413 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Rockwell Automation by 197.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 13,905 shares of the industrial products company’s stock valued at $5,410,000 after purchasing an additional 9,238 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Rockwell Automation by 19.6% in the 4th quarter. Hsbc Holdings PLC now owns 274,512 shares of the industrial products company’s stock valued at $106,965,000 after purchasing an additional 44,944 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on ROK. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rockwell Automation in a research note on Thursday, June 18th. Morgan Stanley restated an “overweight” rating and set a $525.00 price objective on shares of Rockwell Automation in a research report on Wednesday, May 6th. Sanford C. Bernstein raised their price objective on Rockwell Automation from $501.00 to $514.00 and gave the company a “market perform” rating in a research note on Friday. Wells Fargo & Company lifted their target price on Rockwell Automation from $360.00 to $440.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. boosted their target price on Rockwell Automation from $404.00 to $417.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $468.67.

Insider Activity

In other news, SVP Matthew W. Fordenwalt sold 377 shares of Rockwell Automation stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $460.51, for a total transaction of $173,612.27. Following the sale, the senior vice president directly owned 4,437 shares of the company’s stock, valued at approximately $2,043,282.87. This trade represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John M. Miller sold 1,054 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $426.02, for a total value of $449,025.08. Following the sale, the vice president owned 5,615 shares in the company, valued at approximately $2,392,102.30. This trade represents a 15.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,649 shares of company stock valued at $722,119 over the last quarter. Corporate insiders own 0.76% of the company’s stock.

Rockwell Automation Stock Performance

NYSE ROK opened at $449.33 on Friday. The firm’s fifty day moving average price is $463.72 and its two-hundred day moving average price is $426.45. The stock has a market cap of $49.90 billion, a PE ratio of 42.11, a PEG ratio of 2.62 and a beta of 1.54. Rockwell Automation, Inc. has a fifty-two week low of $332.71 and a fifty-two week high of $497.36. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.74 and a current ratio of 1.08.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. Rockwell Automation had a return on equity of 39.83% and a net margin of 13.39%.The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the prior year, the company earned $2.82 EPS. Rockwell Automation’s revenue was up 7.9% compared to the same quarter last year. Rockwell Automation has set its FY 2026 guidance at 13.000-13.300 EPS. On average, equities analysts expect that Rockwell Automation, Inc. will post 13.22 EPS for the current fiscal year.

Rockwell Automation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, August 17th. Rockwell Automation’s dividend payout ratio is presently 51.73%.

Rockwell Automation declared that its board has initiated a stock buyback plan on Tuesday, June 9th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Rockwell Automation Company Profile

Rockwell Automation is a global industrial automation and digital transformation company headquartered in Milwaukee, Wisconsin. The firm designs, manufactures and supports control systems, industrial control hardware and software, and related services that help manufacturers and industrial operators automate processes, improve productivity and enable data-driven decision making. Rockwell traces its heritage to the Allen-Bradley and Rockwell automation businesses and positions itself as a provider of integrated automation solutions across discrete and process industries.

The company’s product portfolio includes programmable logic controllers (PLCs), human-machine interfaces (HMIs), variable frequency drives, sensors, safety components and other industrial control hardware, often marketed under the Allen-Bradley brand.