Rockwell Automation, Inc. (NYSE:ROK) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank lifted its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 16.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,113 shares of the industrial products company's stock after acquiring an additional 5,480 shares during the quarter. Toronto Dominion Bank's holdings in Rockwell Automation were worth $10,500,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. lifted its position in shares of Rockwell Automation by 100.0% in 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 in the last quarter. Ashton Thomas Securities LLC bought a new stake in Rockwell Automation in the third quarter worth $26,000. Darwin Wealth Management LLC purchased a new position in shares of Rockwell Automation during the 3rd quarter worth about $34,000. Strategic Investment Solutions Inc. IL bought a new position in Rockwell Automation during the 2nd quarter valued at about $36,000. Finally, Cultivar Capital Inc. purchased a new stake in Rockwell Automation in the 2nd quarter worth about $46,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Stock Down 1.9 %

ROK traded down $5.72 on Friday, hitting $297.20. The company had a trading volume of 1,307,839 shares, compared to its average volume of 893,183. The stock has a fifty day moving average price of $280.84 and a 200-day moving average price of $269.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76. The stock has a market capitalization of $33.55 billion, a price-to-earnings ratio of 35.89, a P/E/G ratio of 3.11 and a beta of 1.36.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.07. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The business's quarterly revenue was down 20.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.64 earnings per share. Analysts predict that Rockwell Automation, Inc. will post 9.38 EPS for the current fiscal year.

Rockwell Automation declared that its Board of Directors has authorized a stock repurchase 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 purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its shares are undervalued.

Rockwell Automation Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 1.76%. The ex-dividend date was Monday, November 18th. This is an increase from Rockwell Automation's previous quarterly dividend of $1.25. Rockwell Automation's payout ratio is currently 63.29%.

Insiders Place Their Bets

In other Rockwell Automation news, CEO Blake D. Moret sold 1,121 shares of Rockwell Automation stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $302.01, for a total transaction of $338,553.21. Following the completion of the sale, the chief executive officer now directly owns 81,754 shares in the company, valued at approximately $24,690,525.54. The trade was a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $154,511.94. Following the transaction, the senior vice president now owns 4,576 shares of the company's stock, valued at $1,221,151.36. This represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,541 shares of company stock valued at $10,586,674. Insiders own 0.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. BNP Paribas initiated coverage on Rockwell Automation in a research note on Wednesday, November 13th. They set an "outperform" rating and a $345.00 target price on the stock. KeyCorp raised 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, December 9th. Barclays upgraded Rockwell Automation from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $255.00 to $290.00 in a research report on Thursday, December 5th. UBS Group started coverage on shares of Rockwell Automation in a report on Wednesday, November 13th. They issued a "neutral" rating and a $313.00 price target on the stock. Finally, 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 report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $301.17.

Rockwell Automation 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.