Rockefeller Capital Management L.P. Has $9.09 Million Stake in Rockwell Automation, Inc. (NYSE:ROK)

Rockefeller Capital Management L.P. cut its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,841 shares of the industrial products company's stock after selling 3,414 shares during the period. Rockefeller Capital Management L.P.'s holdings in Rockwell Automation were worth $9,087,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. 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 acquiring an additional 48 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Rockwell Automation in the third quarter valued at $26,000. Darwin Wealth Management LLC bought a new position in Rockwell Automation in the third quarter valued at $34,000. Strategic Investment Solutions Inc. IL bought a new position in Rockwell Automation in the second quarter valued at $36,000. Finally, Cultivar Capital Inc. bought a new position in Rockwell Automation in the second quarter valued at $46,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Rockwell Automation

In related 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 transaction of $300,000.00. Following the sale, the senior vice president now directly owns 3,630 shares of the company's stock, valued at approximately $1,089,000. The trade was a 21.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $266.86, for a total transaction of $154,511.94. Following the sale, the senior vice president now directly owns 4,576 shares in the company, valued at $1,221,151.36. This trade represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,746 shares of company stock valued at $9,152,594 in the last ninety days. 0.68% of the stock is currently owned by company insiders.

Rockwell Automation Stock Performance

Shares of NYSE ROK traded up $2.27 during mid-day trading on Wednesday, reaching $293.83. 575,715 shares of the company were exchanged, compared to its average volume of 890,430. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. The company's 50-day simple moving average is $275.94 and its 200-day simple moving average is $268.31. The stock has a market capitalization of $33.17 billion, a P/E ratio of 35.40, a P/E/G ratio of 3.09 and a beta of 1.36.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share 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 during the quarter, compared to analysts' expectations of $2.06 billion. During the same quarter in the previous year, the company earned $3.64 EPS. The business's revenue was down 20.6% on a year-over-year basis. As a group, research analysts predict that Rockwell Automation, Inc. will post 9.44 earnings per share for the current year.

Rockwell Automation announced that its board has authorized a share buyback program on Thursday, September 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Rockwell Automation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.31 dividend. This is a positive change from Rockwell Automation's previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a yield of 1.78%. The ex-dividend date is Monday, November 18th. Rockwell Automation's dividend payout ratio (DPR) is currently 63.29%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ROK shares. TD Cowen decreased their target price on shares of Rockwell Automation from $220.00 to $215.00 and set a "sell" rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company raised their target price on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Barclays lifted their price objective on shares of Rockwell Automation from $245.00 to $255.00 and gave the company an "underweight" rating in a research report on Friday, November 8th. Mizuho lifted their price objective on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Rockwell Automation from $245.00 to $227.00 and set an "underweight" rating for the company in a research report on Monday, August 12th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $287.13.

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.