Banque Cantonale Vaudoise reduced its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 83.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 872 shares of the industrial products company's stock after selling 4,507 shares during the quarter. Banque Cantonale Vaudoise's holdings in Rockwell Automation were worth $234,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Pathway Financial Advisers LLC purchased a new position in Rockwell Automation in the 1st quarter valued at about $26,000. Richardson Financial Services Inc. lifted its stake in Rockwell Automation by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company's stock valued at $26,000 after buying an additional 48 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Rockwell Automation in the 3rd quarter valued at about $26,000. Strategic Investment Solutions Inc. IL purchased a new position in Rockwell Automation in the 2nd quarter valued at about $36,000. Finally, Cultivar Capital Inc. purchased a new position in Rockwell Automation in the 2nd quarter valued at about $46,000. 75.75% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on ROK shares. Morgan Stanley raised their price target on shares of Rockwell Automation from $320.00 to $335.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. UBS Group started coverage on shares of Rockwell Automation in a research note on Wednesday, November 13th. They issued a "neutral" rating and a $313.00 target price on the stock. Oppenheimer raised their target price on shares of Rockwell Automation from $288.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. JPMorgan Chase & Co. decreased their target price on shares of Rockwell Automation from $245.00 to $227.00 and set an "underweight" rating on the stock in a research note on Monday, August 12th. Finally, Wells Fargo & Company raised their target price 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. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Rockwell Automation currently has a consensus rating of "Hold" and an average target price of $286.13.
Shares of NYSE ROK opened at $290.78 on Friday. The company has a 50 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 P/E ratio of 35.12, a P/E/G ratio of 2.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 0.72. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76.
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, 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 quarter last year, the firm earned $3.64 EPS. The firm's revenue for the quarter was down 20.6% on a year-over-year basis. On average, equities research analysts predict that Rockwell Automation, Inc. will post 9.46 earnings per share for the current year.
Rockwell Automation Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.31 dividend. This represents a $5.24 annualized dividend and a yield of 1.80%. 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 dividend payout ratio (DPR) is 63.29%.
Rockwell Automation declared that its board has approved 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 reacquire up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.
Insider Activity at Rockwell Automation
In related news, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $266.86, for a total value of $154,511.94. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP John M. Miller sold 467 shares of the business's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $284.07, for a total transaction of $132,660.69. Following the completion of the transaction, the vice president now owns 4,800 shares of the company's stock, valued at approximately $1,363,536. This trade represents a 8.87 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.
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.
Further Reading
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