Principal Financial Group Inc. Raises Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Principal Financial Group Inc. raised its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 5.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 204,679 shares of the industrial products company's stock after purchasing an additional 11,161 shares during the period. Principal Financial Group Inc. owned 0.18% of Rockwell Automation worth $54,948,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Pathway Financial Advisers LLC bought a new position in Rockwell Automation during the first quarter worth about $26,000. Richardson Financial Services Inc. grew its holdings in shares of Rockwell Automation by 100.0% in 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 during the last quarter. ESL Trust Services LLC bought a new stake in Rockwell Automation in the first quarter valued at $29,000. Strategic Investment Solutions Inc. IL purchased a new position in Rockwell Automation during the second quarter valued at $36,000. Finally, Cultivar Capital Inc. purchased a new position in shares of Rockwell Automation in the 2nd quarter worth about $46,000. Institutional investors and hedge funds own 75.75% of the company's stock.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the company's stock in a transaction that occurred on Monday, November 4th. The stock was 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 of the company's stock, valued at $1,221,151.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.68% of the company's stock.

Rockwell Automation Stock Up 2.1 %

ROK traded up $5.68 during midday trading on Monday, hitting $277.82. 891,070 shares of the company's stock traded hands, compared to its average volume of 879,293. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $312.76. The company has a market cap of $31.52 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 4.74 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.84 and a quick ratio of 0.68. The stock's fifty day simple moving average is $266.92 and its 200-day simple moving average is $266.56.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (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 quarter in the previous year, the firm posted $3.64 earnings per share. Rockwell Automation's revenue was down 20.6% compared to the same quarter last year. As a group, equities analysts anticipate that Rockwell Automation, Inc. will post 9.56 earnings per share for the current fiscal year.

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

Rockwell Automation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.31 per share. This is a boost from Rockwell Automation's previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Monday, November 18th. Rockwell Automation's payout ratio is currently 60.39%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ROK. JPMorgan Chase & Co. cut their price target on Rockwell Automation from $245.00 to $227.00 and set an "underweight" rating for the company in a research note on Monday, August 12th. Robert W. Baird increased their price target on Rockwell Automation from $280.00 to $290.00 and gave the company an "outperform" rating in a report on Friday. Morgan Stanley assumed coverage on Rockwell Automation in a research report on Friday, September 6th. They set an "overweight" rating and a $320.00 price target on the stock. Mizuho increased their price target on Rockwell Automation from $245.00 to $270.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Finally, Barclays raised their price objective on Rockwell Automation from $245.00 to $255.00 and gave the stock an "underweight" rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $284.21.

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.