Wolverine Asset Management LLC acquired a new position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 6,000 shares of the industrial products company's stock, valued at approximately $1,611,000.
A number of other hedge funds have also made changes to their positions in the stock. CreativeOne Wealth LLC boosted its stake in Rockwell Automation by 3.0% in the 1st quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company's stock valued at $372,000 after buying an additional 37 shares in the last quarter. Mather Group LLC. boosted its position in shares of Rockwell Automation by 5.9% during the second quarter. Mather Group LLC. now owns 680 shares of the industrial products company's stock valued at $198,000 after buying an additional 38 shares during the last quarter. Pure Financial Advisors LLC increased its stake 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 worth $444,000 after acquiring an additional 42 shares during the last quarter. Pitcairn Co. raised its position in shares of Rockwell Automation by 4.2% in the 1st quarter. Pitcairn Co. now owns 1,096 shares of the industrial products company's stock worth $319,000 after acquiring an additional 44 shares in the last quarter. Finally, Hancock Whitney Corp boosted its position in Rockwell Automation by 2.5% during the first quarter. Hancock Whitney Corp now owns 1,805 shares of the industrial products company's stock worth $526,000 after purchasing an additional 44 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company's stock.
Rockwell Automation Trading Up 0.0 %
NYSE:ROK traded up $0.06 during mid-day trading on Tuesday, reaching $277.88. The company's stock had a trading volume of 1,035,979 shares, compared to its average volume of 880,008. The stock has a market cap of $31.53 billion, a P/E ratio of 33.55, a P/E/G ratio of 4.74 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.84 and a quick ratio of 0.68. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76. The company's fifty day simple moving average is $267.03 and its two-hundred day simple moving average is $266.57.
Rockwell Automation (NYSE:ROK - Get Free Report) last posted its 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 net margin of 11.53% and a return on equity of 30.42%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the firm earned $3.64 EPS. The firm's quarterly revenue was down 20.6% compared to the same quarter last year. On average, equities analysts predict that Rockwell Automation, Inc. will post 9.56 EPS for the current year.
Rockwell Automation Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a $1.31 dividend. This is an increase from Rockwell Automation's previous quarterly dividend of $1.25. The ex-dividend date is Monday, November 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.89%. Rockwell Automation's payout ratio is presently 60.39%.
Rockwell Automation declared that its board has authorized a share repurchase plan on Thursday, September 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. Morgan Stanley began coverage on Rockwell Automation in a research report on Friday, September 6th. They set an "overweight" rating and a $320.00 price objective for the company. Bank of America lifted their price target on Rockwell Automation from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Barclays raised their target price on Rockwell Automation from $245.00 to $255.00 and gave the stock an "underweight" rating in a research report on Friday. Oppenheimer upped their target price on shares of Rockwell Automation from $288.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Mizuho increased their price target 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. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $284.21.
Read Our Latest Stock Analysis on Rockwell Automation
Insider Activity at Rockwell Automation
In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $266.86, for a total transaction of $154,511.94. Following the completion of the sale, the senior vice president now owns 4,576 shares of the company's stock, valued at approximately $1,221,151.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.68% of the stock is currently owned by corporate 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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