Rockwell Automation, Inc. (NYSE:ROK) Shares Acquired by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd lifted its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 49.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,657 shares of the industrial products company's stock after purchasing an additional 5,807 shares during the quarter. ICICI Prudential Asset Management Co Ltd's holdings in Rockwell Automation were worth $4,740,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC purchased a new position in shares of Rockwell Automation during the first quarter valued at approximately $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Rockwell Automation during the third quarter worth $26,000. Richardson Financial Services Inc. increased its position in shares of 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 purchasing an additional 48 shares in the last quarter. ESL Trust Services LLC acquired a new position in shares of Rockwell Automation during the first quarter worth $29,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Rockwell Automation in the 2nd quarter valued at $36,000. 75.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on ROK. Bank of America upped their target price on Rockwell Automation from $270.00 to $285.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Barclays upped their target price on Rockwell Automation from $245.00 to $255.00 and gave the company an "underweight" rating in a research report on Friday, November 8th. UBS Group began coverage on Rockwell Automation in a research report on Wednesday. They issued a "neutral" rating and a $313.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Rockwell Automation from $245.00 to $227.00 and set an "underweight" rating on the stock in a research report on Monday, August 12th. Finally, BNP Paribas assumed coverage on shares of Rockwell Automation in a report on Wednesday. They issued an "outperform" rating and a $345.00 price target on the stock. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $285.13.

Rockwell Automation Price Performance

Shares of ROK stock traded up $8.69 during mid-day trading on Wednesday, hitting $286.57. 1,028,651 shares of the stock were exchanged, compared to its average volume of 880,744. The firm has a fifty day moving average of $267.36 and a 200 day moving average of $266.55. The company has a quick ratio of 1.17, a current ratio of 1.84 and a debt-to-equity ratio of 0.70. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The company has a market cap of $32.52 billion, a PE ratio of 34.61, a price-to-earnings-growth ratio of 2.86 and a beta of 1.36.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the prior year, the company posted $3.64 EPS. The company's revenue for the quarter was down 20.6% on a year-over-year basis. Research analysts anticipate that Rockwell Automation, Inc. will post 9.54 earnings per share 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 paid a dividend of $1.31 per share. This is a positive change from Rockwell Automation's previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, November 18th. Rockwell Automation's dividend payout ratio is presently 60.39%.

Rockwell Automation announced that its Board of Directors has initiated a share buyback program 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 stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Rockwell Automation

In related news, SVP Veena M. Lakkundi sold 579 shares of the company's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $266.86, for a total transaction of $154,511.94. Following the completion of the transaction, the senior vice president now owns 4,576 shares in the company, valued at $1,221,151.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.