Fisher Asset Management LLC Acquires 19,987 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Fisher Asset Management LLC lifted its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 3.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 670,017 shares of the industrial products company's stock after acquiring an additional 19,987 shares during the quarter. Fisher Asset Management LLC owned approximately 0.59% of Rockwell Automation worth $179,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC bought a new position in Rockwell Automation during the 1st quarter worth approximately $26,000. 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 buying an additional 48 shares during the period. Ashton Thomas Securities LLC bought a new position in Rockwell Automation during the third quarter worth $26,000. Darwin Wealth Management LLC acquired a new position in Rockwell Automation in the third quarter valued at $34,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Rockwell Automation during the second quarter valued at $36,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Stock Down 0.9 %

ROK traded down $2.61 during midday trading on Tuesday, reaching $296.09. 1,164,779 shares of the company were exchanged, compared to its average volume of 896,731. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $312.76. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08. The company's fifty day moving average price is $272.12 and its 200 day moving average price is $267.32. The company has a market cap of $33.43 billion, a price-to-earnings ratio of 35.42, a price-to-earnings-growth ratio of 3.02 and a beta of 1.36.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.07. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. Rockwell Automation's quarterly revenue was down 20.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.64 EPS. As a group, analysts expect that Rockwell Automation, Inc. will post 9.46 EPS for the current year.

Rockwell Automation declared that its board has authorized a share buyback plan on Thursday, September 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are 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 given a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a yield of 1.77%. This is an increase from Rockwell Automation's previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, November 18th. Rockwell Automation's dividend payout ratio is presently 63.29%.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, CEO Blake D. Moret sold 26,700 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $298.63, for a total value of $7,973,421.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction on Monday, November 4th. The stock was 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 $1,221,151.36. The trade was a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,746 shares of company stock worth $8,560,594. Insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Oppenheimer lifted their price objective on Rockwell Automation from $288.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Barclays boosted their price target on Rockwell Automation from $245.00 to $255.00 and gave the company an "underweight" rating in a research note on Friday, November 8th. Mizuho raised their price objective on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Wells Fargo & Company boosted 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. Finally, BNP Paribas started coverage on shares of Rockwell Automation in a research note on Wednesday, November 13th. They set an "outperform" rating and a $345.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average 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.