Rockwell Automation, Inc. (NYSE:ROK) is Accredited Investors Inc.'s 4th Largest Position

Accredited Investors Inc. increased its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 162,058.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,185,379 shares of the industrial products company's stock after acquiring an additional 1,184,648 shares during the quarter. Rockwell Automation comprises about 7.9% of Accredited Investors Inc.'s investment portfolio, making the stock its 4th biggest holding. Accredited Investors Inc. owned about 1.04% of Rockwell Automation worth $318,227,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Pathway Financial Advisers LLC purchased a new stake in Rockwell Automation during the 1st quarter valued at about $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of Rockwell Automation during the 3rd quarter valued at about $26,000. Richardson Financial Services Inc. boosted its holdings in shares of Rockwell Automation by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 48 shares during the last quarter. ESL Trust Services LLC purchased a new stake in shares of Rockwell Automation during the 1st quarter valued at about $29,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Rockwell Automation during the 2nd quarter valued at about $36,000. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Stock Performance

NYSE ROK traded up $0.06 on Tuesday, reaching $277.88. 1,035,979 shares of the stock were exchanged, compared to its average volume of 880,040. 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 $31.53 billion, a PE ratio of 33.55, a PEG ratio of 4.74 and a beta of 1.36. The company's 50-day simple moving average is $267.03 and its two-hundred day simple moving average is $266.57. The company has a current ratio of 1.84, a quick ratio of 0.68 and a debt-to-equity ratio of 0.70.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.07. The firm had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The company's revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.64 earnings per share. Analysts expect that Rockwell Automation, Inc. will post 9.56 EPS for the current fiscal year.

Rockwell Automation Increases Dividend

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

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

Analyst Upgrades and Downgrades

ROK has been the topic of a number of recent analyst reports. Robert W. Baird raised their price target on shares of Rockwell Automation from $280.00 to $290.00 and gave the company an "outperform" rating in a report on Friday. TD Cowen dropped their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a "sell" rating on the stock in a report on Thursday, August 8th. Mizuho raised their price target on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Wells Fargo & Company raised their price target on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Finally, Morgan Stanley began coverage on shares of Rockwell Automation in a report on Friday, September 6th. They issued an "overweight" rating and a $320.00 price objective on the stock. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $284.21.

Insider Activity

In related news, SVP Veena M. Lakkundi sold 579 shares of the business's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $266.86, for a total value of $154,511.94. Following the sale, the senior vice president now owns 4,576 shares in the company, valued at approximately $1,221,151.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.68% of the company's stock.

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.