Connor Clark & Lunn Investment Management Ltd. Trims Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 88.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,333 shares of the industrial products company's stock after selling 10,146 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Rockwell Automation were worth $358,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in Rockwell Automation during the third quarter valued at approximately $26,000. Richardson Financial Services Inc. grew its position in shares of Rockwell Automation by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 48 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Rockwell Automation in the 2nd quarter worth $36,000. Cultivar Capital Inc. bought a new position in Rockwell Automation in the 2nd quarter worth $46,000. Finally, DiNuzzo Private Wealth Inc. lifted its position in Rockwell Automation by 1,707.7% during the third quarter. DiNuzzo Private Wealth Inc. now owns 235 shares of the industrial products company's stock valued at $63,000 after purchasing an additional 222 shares in the last quarter. Institutional investors own 75.75% of the company's stock.

Rockwell Automation Price Performance

Shares of Rockwell Automation stock traded up $0.19 during trading hours on Friday, reaching $295.14. The company's stock had a trading volume of 395,626 shares, compared to its average volume of 1,136,709. The firm has a 50 day moving average price of $274.63 and a 200-day moving average price of $268.03. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 0.72. The stock has a market cap of $33.32 billion, a P/E ratio of 35.64, a P/E/G ratio of 3.07 and a beta of 1.36. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $312.76.

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

Rockwell Automation Increases Dividend

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

Rockwell Automation declared that its board has approved a stock repurchase program on Thursday, September 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ROK. JPMorgan Chase & Co. decreased their price objective on Rockwell Automation from $245.00 to $227.00 and set an "underweight" rating on the stock in a research note on Monday, August 12th. Barclays lifted their price target on shares of Rockwell Automation from $245.00 to $255.00 and gave the company an "underweight" rating in a report on Friday, November 8th. TD Cowen reduced their price objective on shares of Rockwell Automation from $220.00 to $215.00 and set a "sell" rating for the company in a research note on Thursday, August 8th. Bank of America lifted their target price on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Finally, UBS Group assumed coverage on Rockwell Automation in a research note on Wednesday, November 13th. They issued a "neutral" rating and a $313.00 price target for the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $287.13.

Insider Buying and Selling

In other news, Director James P. Keane sold 2,000 shares of Rockwell Automation stock in a transaction 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 completion of the sale, the director now directly owns 11,518 shares in the company, valued at approximately $3,409,328. This trade represents a 14.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Cyril Perducat sold 1,000 shares of the company's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the transaction, the senior vice president now owns 3,630 shares in the company, valued at approximately $1,089,000. The trade was a 21.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,746 shares of company stock valued at $9,152,594. 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.