WIM INVESTMENT MANAGEMENT Ltd Makes New Investment in Rockwell Automation, Inc. (NYSE:ROK)

WIM INVESTMENT MANAGEMENT Ltd purchased a new position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 24,200 shares of the industrial products company's stock, valued at approximately $6,497,000. Rockwell Automation accounts for 2.7% of WIM INVESTMENT MANAGEMENT Ltd's portfolio, making the stock its 7th biggest position.

Other hedge funds have also recently made changes to their positions in the company. Pathway Financial Advisers LLC purchased a new stake in Rockwell Automation during the first quarter valued at approximately $26,000. Ashton Thomas Securities LLC purchased a new position in Rockwell Automation during the third quarter valued at $26,000. Richardson Financial Services Inc. increased its holdings 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 purchasing an additional 48 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Rockwell Automation during the 2nd quarter worth approximately $36,000. Finally, Cultivar Capital Inc. bought a new position in Rockwell Automation during the second quarter valued at $46,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ROK has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of Rockwell Automation from $320.00 to $335.00 and gave the company an "overweight" rating in a research note on Friday. JPMorgan Chase & Co. lowered their target price on Rockwell Automation from $245.00 to $227.00 and set an "underweight" rating for the company in a report on Monday, August 12th. Robert W. Baird boosted their price objective on shares of Rockwell Automation from $280.00 to $290.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Oppenheimer increased their price target on Rockwell Automation from $288.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Finally, Barclays lifted their price objective on shares of Rockwell Automation from $245.00 to $255.00 and gave the stock an "underweight" rating in a research note on Friday, November 8th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $286.13.

Insider Activity at Rockwell Automation

In other news, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 4,576 shares in the company, valued at approximately $1,221,151.36. This trade represents a 11.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.68% of the stock is currently owned by insiders.

Rockwell Automation Price Performance

NYSE:ROK traded down $0.28 during mid-day trading on Friday, hitting $286.15. 1,110,722 shares of the company's stock traded hands, compared to its average volume of 845,022. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76. The company has a market cap of $32.31 billion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 2.95 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.17 and a current ratio of 1.08. The firm's 50 day simple moving average is $269.16 and its 200 day simple moving average is $266.84.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the business posted $3.64 earnings per share. Rockwell Automation's revenue was down 20.6% compared to the same quarter last year. Sell-side analysts expect that Rockwell Automation, Inc. will post 9.54 EPS for the current year.

Rockwell Automation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a yield of 1.83%. 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. Rockwell Automation's payout ratio is 60.39%.

Rockwell Automation declared that its Board of Directors has initiated a share repurchase 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 shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

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.