Centiva Capital LP Invests $1.19 Million in Rockwell Automation, Inc. (NYSE:ROK)

Centiva Capital LP bought a new stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,419 shares of the industrial products company's stock, valued at approximately $1,186,000.

Other institutional investors have also recently made changes to their positions in the company. Richardson Financial Services Inc. lifted its stake 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 worth $26,000 after purchasing an additional 48 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Rockwell Automation in the third quarter worth approximately $26,000. Darwin Wealth Management LLC bought a new stake in shares of Rockwell Automation during the 3rd quarter worth approximately $34,000. Strategic Investment Solutions Inc. IL bought a new position in Rockwell Automation in the 2nd quarter valued at $36,000. Finally, Cultivar Capital Inc. purchased a new stake in Rockwell Automation in the second quarter worth $46,000. Institutional investors own 75.75% of the company's stock.

Rockwell Automation Stock Up 1.1 %

NYSE:ROK traded up $3.27 during midday trading on Thursday, reaching $297.10. 993,304 shares of the stock traded hands, compared to its average volume of 890,869. The stock has a market capitalization of $33.54 billion, a PE ratio of 36.49, a price-to-earnings-growth ratio of 3.03 and a beta of 1.36. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76. 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 business has a 50-day moving average of $276.65 and a two-hundred day moving average of $268.49.

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, topping analysts' consensus estimates of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The firm had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $2.06 billion. During the same quarter last year, the firm earned $3.64 EPS. The business's quarterly revenue was down 20.6% on a year-over-year basis. On average, equities analysts forecast that Rockwell Automation, Inc. will post 9.44 earnings per share for the current fiscal year.

Rockwell Automation announced that its board has authorized a share buyback program on Thursday, September 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Rockwell Automation Increases Dividend

The business 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.76%. This is an increase from Rockwell Automation's previous quarterly dividend of $1.25. Rockwell Automation's dividend payout ratio is 63.29%.

Insider Buying and Selling

In other news, SVP Cyril Perducat sold 1,000 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $300.00, for a total value of $300,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,630 shares in the company, valued at $1,089,000. This trade represents a 21.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James P. Keane sold 2,000 shares of Rockwell Automation stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $296.00, for a total value of $592,000.00. Following the sale, 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 30,746 shares of company stock worth $9,152,594 in the last three months. Corporate insiders own 0.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ROK. Barclays raised shares of Rockwell Automation from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $255.00 to $290.00 in a research note on Thursday. Wells Fargo & Company upped their target price on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Bank of America boosted their price target on Rockwell Automation from $270.00 to $285.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Oppenheimer raised their price objective on Rockwell Automation from $288.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Finally, TD Cowen dropped their price target on Rockwell Automation from $220.00 to $215.00 and set a "sell" rating on the stock in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $289.47.

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.