CIBC Asset Management Inc Raises Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

CIBC Asset Management Inc raised its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 12.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 19,104 shares of the industrial products company's stock after purchasing an additional 2,189 shares during the period. CIBC Asset Management Inc's holdings in Rockwell Automation were worth $5,129,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in Rockwell Automation by 951.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company's stock worth $1,611,915,000 after acquiring an additional 5,006,706 shares during the period. Lazard Asset Management LLC raised its position in shares of Rockwell Automation by 32.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,510,019 shares of the industrial products company's stock valued at $439,912,000 after purchasing an additional 365,795 shares during the period. Accredited Investors Inc. lifted its stake in shares of Rockwell Automation by 162,058.5% during the 3rd quarter. Accredited Investors Inc. now owns 1,185,379 shares of the industrial products company's stock valued at $318,227,000 after buying an additional 1,184,648 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Rockwell Automation by 4.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 986,849 shares of the industrial products company's stock worth $264,929,000 after buying an additional 41,605 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Rockwell Automation by 29,591.7% in the 3rd quarter. International Assets Investment Management LLC now owns 936,178 shares of the industrial products company's stock worth $251,326,000 after buying an additional 933,025 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ROK shares. TD Cowen dropped their price objective on Rockwell Automation from $220.00 to $215.00 and set a "sell" rating for the company in a research note on Thursday, August 8th. Mizuho lifted their price objective on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Barclays upped their target price on shares of Rockwell Automation from $245.00 to $255.00 and gave the stock an "underweight" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. reduced their price target on shares of Rockwell Automation from $245.00 to $227.00 and set an "underweight" rating on the stock in a report on Monday, August 12th. Finally, Robert W. Baird increased their price objective on shares of Rockwell Automation from $280.00 to $290.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Rockwell Automation has an average rating of "Hold" and an average target price of $286.13.

Rockwell Automation Trading Down 1.1 %

Shares of ROK traded down $3.02 during trading hours on Monday, reaching $283.13. 950,889 shares of the company traded hands, compared to its average volume of 884,186. The firm has a market cap of $31.97 billion, a price-to-earnings ratio of 34.32, a PEG ratio of 2.95 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 stock's fifty day moving average price is $269.16 and its 200 day moving average price is $266.82. The company has a current ratio of 1.08, a quick ratio of 1.17 and a debt-to-equity ratio of 0.70.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the firm earned $3.64 EPS. The company's revenue for the quarter was down 20.6% compared to the same quarter last year. Sell-side analysts forecast that Rockwell Automation, Inc. will post 9.54 earnings per share for the current year.

Rockwell Automation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.31 dividend. This is an increase from Rockwell Automation's previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Monday, November 18th. Rockwell Automation's payout ratio is presently 60.39%.

Rockwell Automation announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other news, SVP Veena M. Lakkundi sold 579 shares of the company's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $266.86, for a total value of $154,511.94. Following the completion of the sale, the senior vice president now owns 4,576 shares of the company's stock, valued at approximately $1,221,151.36. This represents a 11.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.68% of the stock is owned by company insiders.

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.