Intech Investment Management LLC Sells 17,689 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Intech Investment Management LLC reduced its stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 90.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,863 shares of the industrial products company's stock after selling 17,689 shares during the period. Intech Investment Management LLC's holdings in Rockwell Automation were worth $500,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ROK. Ashton Thomas Securities LLC acquired a new stake in Rockwell Automation during the third quarter valued at approximately $26,000. Richardson Financial Services Inc. lifted 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 valued at $26,000 after purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in Rockwell Automation during the third quarter valued at approximately $34,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Rockwell Automation in the 2nd quarter valued at approximately $36,000. Finally, Cultivar Capital Inc. acquired a new position in Rockwell Automation in the 2nd quarter worth approximately $46,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ROK has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. JPMorgan Chase & Co. dropped 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. BNP Paribas initiated coverage on Rockwell Automation in a research note on Wednesday, November 13th. They issued an "outperform" rating and a $345.00 price target for the company. Bank of America raised their price objective on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Finally, UBS Group began 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. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $287.13.

Rockwell Automation Price Performance

NYSE ROK traded up $2.04 during trading hours on Monday, reaching $297.18. 723,938 shares of the company's stock were exchanged, compared to its average volume of 892,707. The firm has a fifty day moving average of $275.35 and a 200-day moving average of $268.16. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $312.76. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The stock has a market cap of $33.55 billion, a PE ratio of 35.89, a price-to-earnings-growth ratio of 3.07 and a beta of 1.36.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.07. The company 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 firm's quarterly revenue was down 20.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.64 EPS. On average, equities research analysts predict that Rockwell Automation, Inc. will post 9.44 earnings per share for the current fiscal year.

Rockwell Automation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 1.76%. The ex-dividend date is Monday, November 18th. This is an increase from Rockwell Automation's previous quarterly dividend of $1.25. Rockwell Automation's dividend payout ratio (DPR) is presently 63.29%.

Rockwell Automation declared that its board has initiated a stock repurchase plan on Thursday, September 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, SVP Cyril Perducat sold 1,000 shares of Rockwell Automation stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the completion of the sale, the senior vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James P. Keane sold 2,000 shares of Rockwell Automation stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 owns 11,518 shares of the company's stock, valued at approximately $3,409,328. The trade was a 14.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,746 shares of company stock worth $9,152,594. Corporate 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.