Prospera Financial Services Inc boosted its position in Rockwell Automation, Inc. (NYSE:ROK – Free Report) by 0.9% during the third quarter, HoldingsChannel.com reports. The fund owned 4,033 shares of the industrial products company’s stock after buying an additional 37 shares during the quarter. Prospera Financial Services Inc’s holdings in Rockwell Automation were worth $1,083,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. CreativeOne Wealth LLC boosted its position in 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 buying an additional 37 shares in the last quarter. Mather Group LLC. boosted its position in Rockwell Automation by 5.9% in 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 in the last quarter. Pure Financial Advisors LLC boosted its position in Rockwell Automation by 2.7% in the second quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock valued at $444,000 after buying an additional 42 shares in the last quarter. Hancock Whitney Corp boosted its position in Rockwell Automation by 2.5% in the first quarter. Hancock Whitney Corp now owns 1,805 shares of the industrial products company’s stock valued at $526,000 after buying an additional 44 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its position in Rockwell Automation by 4.7% in the second quarter. Concurrent Investment Advisors LLC now owns 990 shares of the industrial products company’s stock valued at $272,000 after buying an additional 44 shares in the last quarter. 75.75% of the stock is owned by institutional investors.
Rockwell Automation Price Performance
Shares of NYSE ROK opened at $290.78 on Friday. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76. The firm has a fifty day simple moving average of $271.38 and a 200 day simple moving average of $267.20. The company has a market capitalization of $32.83 billion, a PE ratio of 35.12, a P/E/G ratio of 2.89 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70.
Rockwell Automation (NYSE:ROK – Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, beating 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 firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the previous year, the firm posted $3.64 earnings per share. The business’s revenue was down 20.6% compared to the same quarter last year. On average, sell-side analysts forecast that Rockwell Automation, Inc. will post 9.46 EPS for the current year.
Rockwell Automation Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a $1.31 dividend. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Monday, November 18th. Rockwell Automation’s payout ratio is 63.29%.
Rockwell Automation announced that its board has approved a stock repurchase program on Thursday, September 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of analysts have weighed in on ROK shares. TD Cowen cut their target price on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Barclays lifted their price target on shares of Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Wells Fargo & Company lifted their price target on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Morgan Stanley lifted their price target on shares of Rockwell Automation from $320.00 to $335.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, UBS Group assumed coverage on shares of Rockwell Automation in a report on Wednesday, November 13th. They set a “neutral” rating and a $313.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rockwell Automation currently has an average rating of “Hold” and a consensus target price of $286.13.
Check Out Our Latest Stock Analysis on Rockwell Automation
Insider Buying and Selling at Rockwell Automation
In other news, VP John M. Miller sold 467 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $284.07, for a total transaction of $132,660.69. Following the completion of the sale, the vice president now directly owns 4,800 shares of the company’s stock, valued at $1,363,536. The trade was a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Veena M. Lakkundi sold 579 shares of the business’s 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 sale, the senior vice president now directly owns 4,576 shares of the company’s stock, valued at approximately $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. Insiders own 0.68% of the company’s stock.
Rockwell Automation Profile
(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.
Further Reading
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