GHP Investment Advisors Inc. raised its stake in Rockwell Automation (NYSE:ROK) by 9.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,526 shares of the industrial products company’s stock after buying an additional 631 shares during the period. GHP Investment Advisors Inc.’s holdings in Rockwell Automation were worth $1,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. raised its holdings in shares of Rockwell Automation by 3.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 7,965 shares of the industrial products company’s stock valued at $1,419,000 after purchasing an additional 263 shares in the last quarter. Edge Advisors LLC raised its holdings in shares of Rockwell Automation by 12.8% in the 4th quarter. Edge Advisors LLC now owns 2,472 shares of the industrial products company’s stock valued at $484,000 after purchasing an additional 280 shares in the last quarter. Dai Ichi Life Insurance Company Ltd raised its holdings in shares of Rockwell Automation by 0.9% in the 3rd quarter. Dai Ichi Life Insurance Company Ltd now owns 32,307 shares of the industrial products company’s stock valued at $5,757,000 after purchasing an additional 285 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Rockwell Automation by 2.0% in the 3rd quarter. Amalgamated Bank now owns 15,472 shares of the industrial products company’s stock valued at $2,757,000 after purchasing an additional 300 shares in the last quarter. Finally, Stephens Inc. AR raised its holdings in shares of Rockwell Automation by 15.9% in the 4th quarter. Stephens Inc. AR now owns 2,184 shares of the industrial products company’s stock valued at $429,000 after purchasing an additional 300 shares in the last quarter. 73.24% of the stock is owned by institutional investors.
Rockwell Automation (ROK) opened at $185.42 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.73 and a current ratio of 1.98. The company has a market cap of $24,010.61, a P/E ratio of 27.00, a P/E/G ratio of 2.12 and a beta of 1.21. Rockwell Automation has a 52 week low of $148.31 and a 52 week high of $210.72.
Rockwell Automation declared that its Board of Directors has initiated a share buyback plan 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 buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Tuesday, February 20th were paid a dividend of $0.835 per share. The ex-dividend date was Friday, February 16th. This represents a $3.34 annualized dividend and a dividend yield of 1.80%. Rockwell Automation’s dividend payout ratio (DPR) is presently 117.19%.
In related news, VP David M. Dorgan sold 10,400 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $202.41, for a total transaction of $2,105,064.00. Following the completion of the transaction, the vice president now owns 12,853 shares in the company, valued at approximately $2,601,575.73. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Keith D. Nosbusch sold 10,500 shares of the company’s stock in a transaction that occurred on 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 owns 430,199 shares in the company, valued at approximately $87,330,397. The disclosure for this sale can be found here. In the last quarter, insiders have sold 123,627 shares of company stock valued at $23,604,488. 1.28% of the stock is currently owned by company insiders.
Several equities research analysts have recently commented on ROK shares. Wolfe Research upgraded shares of Rockwell Automation from a “market perform” rating to an “outperform” rating in a report on Monday, November 20th. Oppenheimer restated a “hold” rating on shares of Rockwell Automation in a report on Monday, November 20th. JPMorgan Chase & Co. started coverage on shares of Rockwell Automation in a report on Wednesday, November 29th. They issued a “neutral” rating for the company. ValuEngine lowered shares of Rockwell Automation from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Goldman Sachs Group restated a “neutral” rating and issued a $193.00 price target on shares of Rockwell Automation in a report on Friday, December 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. Rockwell Automation presently has an average rating of “Hold” and a consensus target price of $190.00.
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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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