TimesSquare Capital Management LLC Buys 15,340 Shares of Rockwell Automation, Inc. (NYSE:ROK)

TimesSquare Capital Management LLC raised its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 9.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,800 shares of the industrial products company's stock after buying an additional 15,340 shares during the quarter. TimesSquare Capital Management LLC owned about 0.16% of Rockwell Automation worth $47,732,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ROK. CreativeOne Wealth LLC grew its position in shares of Rockwell Automation by 3.0% in the first quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company's stock valued at $372,000 after purchasing an additional 37 shares in the last quarter. Mather Group LLC. boosted its holdings in Rockwell Automation by 5.9% in the 2nd quarter. Mather Group LLC. now owns 680 shares of the industrial products company's stock valued at $198,000 after purchasing an additional 38 shares during the period. Pure Financial Advisors LLC boosted its holdings in Rockwell Automation by 2.7% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company's stock valued at $444,000 after purchasing an additional 42 shares during the period. Pitcairn Co. increased its holdings in shares of Rockwell Automation by 4.2% in the first quarter. Pitcairn Co. now owns 1,096 shares of the industrial products company's stock worth $319,000 after purchasing an additional 44 shares during the period. Finally, Hancock Whitney Corp raised its position in shares of Rockwell Automation by 2.5% in the first quarter. Hancock Whitney Corp now owns 1,805 shares of the industrial products company's stock worth $526,000 after buying an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company's stock.

Insider Buying and Selling

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 transaction, the senior vice president now owns 4,576 shares in the company, valued at approximately $1,221,151.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.68% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ROK. Morgan Stanley initiated coverage on Rockwell Automation in a research report on Friday, September 6th. They set an "overweight" rating and a $320.00 price target for the company. Wells Fargo & Company boosted their price target on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Mizuho raised 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. JPMorgan Chase & Co. cut their target price 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. Finally, TD Cowen lowered their price target on Rockwell Automation from $220.00 to $215.00 and set a "sell" rating on the stock in a research report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $284.21.

Rockwell Automation Trading Down 1.8 %

NYSE:ROK traded down $4.95 during mid-day trading on Friday, reaching $272.14. 1,067,395 shares of the company's stock traded hands, compared to its average volume of 625,232. The company has a 50 day moving average price of $266.92 and a 200-day moving average price of $266.62. The firm has a market capitalization of $30.88 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 5.12 and a beta of 1.36. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.07. The company 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 34.09% and a net margin of 11.56%. The firm's revenue was down 20.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.64 earnings per share. On average, sell-side analysts predict that Rockwell Automation, Inc. will post 9.65 earnings per share for the current year.

Rockwell Automation declared that its Board of Directors has initiated a stock buyback program on Thursday, September 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its shares are undervalued.

Rockwell Automation Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.31 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.93%. This is a boost from Rockwell Automation's previous quarterly dividend of $1.25. Rockwell Automation's payout ratio is currently 63.29%.

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.