KBC Group NV Lowers Holdings in Rockwell Automation, Inc. (NYSE:ROK)

KBC Group NV cut its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 74.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,054 shares of the industrial products company's stock after selling 63,541 shares during the quarter. KBC Group NV's holdings in Rockwell Automation were worth $5,920,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ROK. Gladstone Institutional Advisory LLC increased its holdings in Rockwell Automation by 33.2% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 1,377 shares of the industrial products company's stock valued at $370,000 after acquiring an additional 343 shares in the last quarter. Vicus Capital acquired a new position in shares of Rockwell Automation during the 3rd quarter valued at $304,000. Comerica Bank raised its position in shares of Rockwell Automation by 6.1% in the 1st quarter. Comerica Bank now owns 60,019 shares of the industrial products company's stock valued at $17,485,000 after purchasing an additional 3,425 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Rockwell Automation during the first quarter worth approximately $2,817,000. Finally, Advisors Asset Management Inc. increased its position in shares of Rockwell Automation by 16.1% in the 1st quarter. Advisors Asset Management Inc. now owns 27,924 shares of the industrial products company's stock worth $8,135,000 after purchasing an additional 3,864 shares during the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rockwell Automation

In related news, SVP Veena M. Lakkundi sold 579 shares of the business'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 transaction, the senior vice president now directly owns 4,576 shares in the company, valued at approximately $1,221,151.36. The trade was a 11.23 % 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. Insiders own 0.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ROK. Oppenheimer increased their target price on Rockwell Automation from $288.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Robert W. Baird raised their target price on Rockwell Automation from $280.00 to $290.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Bank of America lifted their target price on Rockwell Automation from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Wells Fargo & Company raised 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. Finally, UBS Group assumed coverage on Rockwell Automation in a report on Wednesday, November 13th. They set a "neutral" rating and a $313.00 target price 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's stock. According to MarketBeat.com, Rockwell Automation has an average rating of "Hold" and an average price target of $286.13.

Rockwell Automation Price Performance

NYSE:ROK traded down $3.64 during trading hours on Monday, reaching $282.51. 586,018 shares of the company were exchanged, compared to its average volume of 882,549. The business has a 50 day moving average of $269.16 and a 200 day moving average of $266.82. The company has a market capitalization of $31.90 billion, a P/E ratio of 34.32, a P/E/G ratio of 2.95 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 1.17. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.07. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The business's revenue was down 20.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.64 EPS. Research analysts forecast that Rockwell Automation, Inc. will post 9.54 EPS for the current year.

Rockwell Automation declared that its board has approved 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 typically an indication that the company's management believes its shares are undervalued.

Rockwell Automation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Monday, November 18th. This is a positive change from Rockwell Automation's previous quarterly dividend of $1.25. Rockwell Automation's payout ratio is 60.39%.

About Rockwell Automation

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.