Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 28.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 78,307 shares of the industrial products company's stock after selling 31,329 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.07% of Rockwell Automation worth $21,022,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Richardson Financial Services Inc. lifted its position in Rockwell Automation by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 48 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Rockwell Automation in the 3rd quarter valued at approximately $26,000. Darwin Wealth Management LLC purchased a new stake in shares of Rockwell Automation in the third quarter valued at approximately $34,000. Strategic Investment Solutions Inc. IL acquired a new position in Rockwell Automation during the second quarter worth $36,000. Finally, Cultivar Capital Inc. purchased a new position in Rockwell Automation in the second quarter worth $46,000. Hedge funds and other institutional investors own 75.75% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on ROK shares. Oppenheimer boosted their target price on shares of Rockwell Automation from $288.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. UBS Group initiated coverage on shares of Rockwell Automation in a report on Wednesday, November 13th. They set a "neutral" rating and a $313.00 price objective on the stock. Mizuho increased their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Bank of America boosted their price target on Rockwell Automation from $270.00 to $285.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company raised their price objective on Rockwell Automation from $293.00 to $305.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Rockwell Automation has a consensus rating of "Hold" and an average target price of $287.13.

Rockwell Automation Price Performance

Rockwell Automation stock traded up $0.19 during midday trading on Friday, reaching $295.14. 395,626 shares of the company were exchanged, compared to its average volume of 1,136,709. The company has a market capitalization of $33.32 billion, a price-to-earnings ratio of 35.64, a P/E/G ratio of 3.07 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08. The firm's 50-day simple moving average is $274.63 and its 200-day simple moving average is $267.98. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.07. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the business posted $3.64 earnings per share. The company's revenue was down 20.6% on a year-over-year basis. On average, analysts anticipate that Rockwell Automation, Inc. will post 9.44 EPS for the current year.

Rockwell Automation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.31 per share. This is a boost from Rockwell Automation's previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.78%. Rockwell Automation's dividend payout ratio (DPR) is 63.29%.

Rockwell Automation announced that its board has initiated a share buyback plan on Thursday, September 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Insider Activity

In related news, VP John M. Miller sold 467 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $284.07, for a total value of $132,660.69. Following the sale, the vice president now directly owns 4,800 shares of the company's stock, valued at approximately $1,363,536. This trade represents a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James P. Keane sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $296.00, for a total transaction of $592,000.00. Following the transaction, the director now directly owns 11,518 shares of the company's stock, valued at $3,409,328. This trade represents a 14.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,746 shares of company stock valued at $9,152,594 over the last quarter. Company insiders own 0.68% of the company's stock.

Rockwell Automation Company Profile

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.