Nomura Asset Management Co. Ltd. Raises Stake in Rockwell Automation, Inc. (NYSE:ROK)

Nomura Asset Management Co. Ltd. increased its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 6.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,209 shares of the industrial products company's stock after purchasing an additional 1,928 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Rockwell Automation were worth $9,184,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Prospera Financial Services Inc raised its holdings in shares of Rockwell Automation by 0.9% during the third quarter. Prospera Financial Services Inc now owns 4,033 shares of the industrial products company's stock valued at $1,083,000 after purchasing an additional 37 shares during the period. Pure Financial Advisors LLC raised its stake in Rockwell Automation by 2.7% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company's stock worth $444,000 after buying an additional 42 shares during the period. Great Valley Advisor Group Inc. boosted its holdings in Rockwell Automation by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 1,928 shares of the industrial products company's stock worth $518,000 after acquiring an additional 42 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in Rockwell Automation by 4.7% in the second quarter. Concurrent Investment Advisors LLC now owns 990 shares of the industrial products company's stock valued at $272,000 after acquiring an additional 44 shares during the period. Finally, 9258 Wealth Management LLC increased its holdings in shares of Rockwell Automation by 3.1% during the second quarter. 9258 Wealth Management LLC now owns 1,501 shares of the industrial products company's stock valued at $413,000 after acquiring an additional 45 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Stock Performance

Rockwell Automation stock traded up $5.54 during mid-day trading on Thursday, reaching $302.92. 1,331,765 shares of the company's stock were exchanged, compared to its average volume of 891,456. The business's fifty day simple moving average is $279.47 and its 200 day simple moving average is $269.50. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $312.76. The firm has a market capitalization of $34.20 billion, a PE ratio of 36.27, a P/E/G ratio of 3.09 and a beta of 1.36.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its earnings results 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. The company had revenue of $2.04 billion for the quarter, compared to analysts' expectations 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 for the quarter was down 20.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.64 EPS. On average, sell-side analysts expect that Rockwell Automation, Inc. will post 9.39 earnings per share for the current year.

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

Rockwell Automation Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.31 per share. This is an increase from Rockwell Automation's previous quarterly dividend of $1.25. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Monday, November 18th. Rockwell Automation's dividend payout ratio is currently 63.29%.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, SVP Cyril Perducat sold 1,000 shares of the stock in a transaction dated Monday, November 25th. The shares were 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 $1,089,000. This trade represents a 21.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Blake D. Moret sold 26,700 shares of Rockwell Automation stock in a transaction dated Monday, November 25th. The stock was 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 position. The disclosure for this sale can be found here. Insiders sold a total of 35,541 shares of company stock worth $10,586,674 in the last quarter. Insiders own 0.68% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ROK. Mizuho increased their target price on Rockwell Automation from $245.00 to $270.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Morgan Stanley raised their price objective on shares of Rockwell Automation from $320.00 to $335.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Robert W. Baird boosted their target price on shares of Rockwell Automation from $290.00 to $305.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 26th. BNP Paribas began coverage on shares of Rockwell Automation in a report on Wednesday, November 13th. They issued an "outperform" rating and a $345.00 target price on the stock. Finally, HSBC upgraded Rockwell Automation from a "hold" rating to a "buy" rating and set a $355.00 price target for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Rockwell Automation currently has an average rating of "Hold" and an average target price of $301.17.

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.