Kovitz Investment Group Partners LLC grew its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 20.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,227 shares of the industrial products company's stock after purchasing an additional 1,739 shares during the period. Kovitz Investment Group Partners LLC's holdings in Rockwell Automation were worth $2,746,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in ROK. Prospera Financial Services Inc increased its stake in Rockwell Automation by 0.9% during the 3rd quarter. Prospera Financial Services Inc now owns 4,033 shares of the industrial products company's stock worth $1,083,000 after buying an additional 37 shares during the period. Pure Financial Advisors LLC increased its position in shares of Rockwell Automation by 2.7% during the second quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company's stock worth $444,000 after acquiring an additional 42 shares during the period. Great Valley Advisor Group Inc. increased its position in shares of Rockwell Automation by 2.2% during 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 during the period. Concurrent Investment Advisors LLC raised its stake in shares of 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 in the last quarter. Finally, 9258 Wealth Management LLC boosted its holdings in Rockwell Automation by 3.1% in the second quarter. 9258 Wealth Management LLC now owns 1,501 shares of the industrial products company's stock valued at $413,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 75.75% of the company's stock.
Rockwell Automation Stock Performance
Shares of ROK traded down $5.00 during mid-day trading on Tuesday, reaching $293.72. 900,475 shares of the company's stock were exchanged, compared to its average volume of 889,968. The business's fifty day simple moving average is $278.28 and its 200-day simple moving average is $269.09. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The stock has a market capitalization of $33.16 billion, a PE ratio of 35.47, a price-to-earnings-growth ratio of 3.09 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 0.72.
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 (EPS) 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 company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the firm posted $3.64 EPS. Rockwell Automation's revenue for the quarter was down 20.6% on a year-over-year basis. On average, equities research analysts expect that Rockwell Automation, Inc. will post 9.39 earnings per share for the current year.
Rockwell Automation Increases Dividend
The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, November 18th. This is an increase from Rockwell Automation's previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a yield of 1.78%. Rockwell Automation's dividend payout ratio is currently 63.29%.
Rockwell Automation declared that its board has initiated a stock repurchase program on Thursday, September 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its stock is undervalued.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. BNP Paribas initiated coverage on Rockwell Automation in a report on Wednesday, November 13th. They set an "outperform" rating and a $345.00 price target on the stock. Barclays upgraded shares of Rockwell Automation from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $255.00 to $290.00 in a research note on Thursday, December 5th. JPMorgan Chase & Co. reduced their target price on shares of Rockwell Automation from $245.00 to $227.00 and set an "underweight" rating on the stock in a report on Monday, August 12th. Bank of America boosted their price target on shares of Rockwell Automation from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Finally, KeyCorp raised shares of Rockwell Automation from a "sector weight" rating to an "overweight" rating and set a $345.00 price objective on the stock in a research report on Monday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Rockwell Automation has an average rating of "Hold" and an average price target of $294.75.
Check Out Our Latest Stock Analysis on ROK
Insiders Place Their Bets
In other news, CEO Blake D. Moret sold 26,700 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 78,115 shares in the company, valued at $23,327,482.45. This represents a 25.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP John M. Miller sold 467 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $284.07, for a total value of $132,660.69. Following the sale, the vice president now directly owns 4,800 shares of the company's stock, valued at approximately $1,363,536. This represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,070 shares of company stock valued at $10,142,408. 0.68% of the stock is owned by company insiders.
About Rockwell Automation
(
Free Report)
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.
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