Deutsche Bank AG lowered its position in Rockwell Automation (NYSE:ROK) by 36.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 420,658 shares of the industrial products company’s stock after selling 240,978 shares during the period. Deutsche Bank AG owned approximately 0.33% of Rockwell Automation worth $82,593,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of ROK. Cerebellum GP LLC purchased a new position in shares of Rockwell Automation in the 4th quarter worth approximately $130,000. Valeo Financial Advisors LLC acquired a new stake in Rockwell Automation in the 3rd quarter worth approximately $131,000. New England Private Wealth Advisors LLC acquired a new stake in Rockwell Automation in the 3rd quarter worth approximately $200,000. Gofen & Glossberg LLC IL acquired a new stake in Rockwell Automation in the 4th quarter worth approximately $202,000. Finally, Cpwm LLC acquired a new stake in Rockwell Automation in the 4th quarter worth approximately $204,000. 73.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Rockwell Automation (ROK) opened at $187.90 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.73 and a current ratio of 1.98. Rockwell Automation has a 12 month low of $148.31 and a 12 month high of $210.72. The company has a market cap of $24,010.00, a P/E ratio of 28.47, a price-to-earnings-growth ratio of 2.13 and a beta of 1.21.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Friday, February 16th. Rockwell Automation’s payout ratio is 50.61%.
Rockwell Automation announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 24th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
A number of analysts recently commented on ROK shares. Goldman Sachs Group reiterated a “neutral” rating and issued a $193.00 target price on shares of Rockwell Automation in a research note on Friday, December 8th. Daiwa Capital Markets started coverage on shares of Rockwell Automation in a research note on Wednesday, December 20th. They issued a “neutral” rating and a $199.00 target price for the company. Stifel Nicolaus reiterated a “hold” rating and issued a $198.00 target price on shares of Rockwell Automation in a research note on Monday, December 11th. Citigroup lowered their target price on shares of Rockwell Automation from $214.00 to $209.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. started coverage on shares of Rockwell Automation in a research note on Wednesday, November 29th. They issued a “neutral” rating for the company. 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 company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $190.00.
In other Rockwell Automation news, SVP Frank C. Kulaszewicz sold 43,100 shares of Rockwell Automation stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $177.68, for a total transaction of $7,658,008.00. Following the completion of the sale, the senior vice president now directly owns 35,338 shares in the company, valued at approximately $6,278,855.84. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert B. Murphy sold 696 shares of Rockwell Automation stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $200.00, for a total transaction of $139,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 123,627 shares of company stock valued at $23,604,488. Company insiders own 1.28% of the company’s stock.
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Rockwell Automation Company 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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