Franklin Resources Inc. Has $163.28 Million Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Franklin Resources Inc. lessened its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 21.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 593,168 shares of the industrial products company's stock after selling 159,420 shares during the period. Franklin Resources Inc. owned approximately 0.53% of Rockwell Automation worth $163,281,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. grew its stake in Rockwell Automation by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company's stock worth $26,000 after buying an additional 48 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Rockwell Automation during the third quarter worth about $26,000. Darwin Wealth Management LLC bought a new stake in Rockwell Automation during the third quarter worth about $34,000. Strategic Investment Solutions Inc. IL bought a new stake in Rockwell Automation during the second quarter worth about $36,000. Finally, Cultivar Capital Inc. bought a new stake in Rockwell Automation during the second quarter worth about $46,000. Institutional investors and hedge funds own 75.75% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wells Fargo & Company upped their price objective 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. UBS Group assumed coverage on shares of Rockwell Automation in a research note on Wednesday, November 13th. They set a "neutral" rating and a $313.00 price target on the stock. Oppenheimer raised their price objective on shares of Rockwell Automation from $288.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Robert W. Baird raised their price objective on shares of Rockwell Automation from $290.00 to $305.00 and gave the company an "outperform" rating in a research note on Tuesday, November 26th. Finally, Barclays raised shares of Rockwell Automation from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $255.00 to $290.00 in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $301.17.

Rockwell Automation Stock Down 0.4 %

Shares of NYSE:ROK traded down $1.11 during midday trading on Monday, reaching $296.09. 794,490 shares of the company were exchanged, compared to its average volume of 892,775. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $312.76. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. The stock has a fifty day simple moving average of $280.84 and a two-hundred day simple moving average of $270.14. The firm has a market cap of $33.43 billion, a PE ratio of 35.89, a P/E/G ratio of 3.11 and a beta of 1.36.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $2.06 billion. During the same period last year, the business posted $3.64 earnings per share. The firm's quarterly revenue was down 20.6% on a year-over-year basis. As a group, sell-side analysts forecast that Rockwell Automation, Inc. will post 9.38 earnings per share for the current year.

Rockwell Automation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.31 dividend. This is a positive change from Rockwell Automation's previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a yield of 1.77%. The ex-dividend date was Monday, November 18th. Rockwell Automation's payout ratio is presently 63.29%.

Rockwell Automation declared that its Board of Directors has approved a stock repurchase plan on Thursday, September 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction dated 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 in the company, valued at $1,221,151.36. The trade was a 11.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Blake D. Moret sold 26,700 shares of the business's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $298.63, for a total transaction of $7,973,421.00. Following the completion of the transaction, the chief executive officer now owns 78,115 shares of the company's stock, valued at $23,327,482.45. The trade was a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,541 shares of company stock worth $10,586,674. Insiders own 0.68% of the company's stock.

Rockwell Automation 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.