Robecosam AG cut its stake in Rockwell Automation (NYSE:ROK) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,100 shares of the industrial products company’s stock after selling 6,630 shares during the period. Rockwell Automation comprises approximately 1.3% of Robecosam AG’s portfolio, making the stock its 18th largest position. Robecosam AG owned approximately 0.08% of Rockwell Automation worth $20,168,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Cerebellum GP LLC purchased a new stake in Rockwell Automation in the fourth quarter valued at $130,000. Valeo Financial Advisors LLC purchased a new stake in shares of Rockwell Automation in the third quarter valued at about $131,000. New England Private Wealth Advisors LLC purchased a new stake in shares of Rockwell Automation in the third quarter valued at about $200,000. Gofen & Glossberg LLC IL purchased a new stake in shares of Rockwell Automation in the fourth quarter valued at about $202,000. Finally, Cpwm LLC purchased a new stake in shares of Rockwell Automation in the fourth quarter valued at about $204,000. 73.24% of the stock is owned by hedge funds and other institutional investors.
Rockwell Automation (NYSE:ROK) opened at $189.13 on Monday. Rockwell Automation has a one year low of $148.31 and a one year high of $210.72. The company has a current ratio of 1.98, a quick ratio of 1.73 and a debt-to-equity ratio of 0.57. The stock has a market cap of $24,167.79, a PE ratio of 27.17, a PEG ratio of 2.13 and a beta of 1.21.
Rockwell Automation declared that its Board of Directors has authorized a stock repurchase program on Wednesday, January 24th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Tuesday, February 20th will be paid a dividend of $0.835 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 1.77%. Rockwell Automation’s dividend payout ratio (DPR) is 117.19%.
In other Rockwell Automation news, Director Keith D. Nosbusch sold 10,500 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $203.00, for a total transaction of $2,131,500.00. Following the transaction, the director now directly owns 430,199 shares in the company, valued at $87,330,397. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Theodore D. Crandall sold 10,000 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $202.94, for a total transaction of $2,029,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 123,627 shares of company stock worth $23,604,488. Company insiders own 1.28% of the company’s stock.
A number of equities research analysts have recently commented on the stock. ValuEngine raised shares of Rockwell Automation from a “hold” rating to a “buy” rating in a report on Saturday. Barclays assumed coverage on shares of Rockwell Automation in a report on Thursday, February 15th. They issued an “equal weight” rating and a $200.00 target price for the company. Zacks Investment Research raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $224.00 target price for the company in a report on Monday, January 29th. JPMorgan Chase & Co. upped their target price on shares of Rockwell Automation from $182.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Finally, Morgan Stanley upped their target price on shares of Rockwell Automation from $194.00 to $206.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $190.00.
Rockwell Automation Profile
Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.
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