Achmea Investment Management B.V. lowered its holdings in shares of Rockwell Automation (NYSE:ROK) by 36.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,905 shares of the industrial products company’s stock after selling 20,380 shares during the quarter. Achmea Investment Management B.V.’s holdings in Rockwell Automation were worth $6,541,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SRS Capital Advisors Inc. raised its position in Rockwell Automation by 3,577.8% in the 3rd quarter. SRS Capital Advisors Inc. now owns 662 shares of the industrial products company’s stock valued at $124,000 after buying an additional 644 shares during the last quarter. Unigestion Holding SA bought a new position in Rockwell Automation in the third quarter valued at approximately $311,000. Brookstone Capital Management bought a new position in Rockwell Automation in the third quarter valued at approximately $224,000. Janney Montgomery Scott LLC grew its stake in Rockwell Automation by 18.4% in the third quarter. Janney Montgomery Scott LLC now owns 24,018 shares of the industrial products company’s stock valued at $4,504,000 after purchasing an additional 3,739 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its stake in Rockwell Automation by 9.3% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 256,386 shares of the industrial products company’s stock valued at $48,078,000 after purchasing an additional 21,800 shares in the last quarter. 74.67% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on ROK. Zacks Investment Research downgraded Rockwell Automation from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. Morgan Stanley raised their price target on Rockwell Automation from $187.00 to $192.00 and gave the company an “equal weight” rating in a research note on Friday, July 27th. ValuEngine downgraded Rockwell Automation from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. UBS Group decreased their price target on Rockwell Automation from $210.00 to $205.00 and set a “buy” rating for the company in a research note on Thursday, August 30th. Finally, Wells Fargo & Co raised their price target on Rockwell Automation from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, October 2nd. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Rockwell Automation currently has a consensus rating of “Hold” and a consensus target price of $179.46.
NYSE:ROK opened at $169.27 on Friday. The company has a market cap of $21.81 billion, a P/E ratio of 20.87, a PEG ratio of 1.69 and a beta of 1.28. The company has a quick ratio of 1.60, a current ratio of 1.93 and a debt-to-equity ratio of 0.85. Rockwell Automation has a 1-year low of $153.67 and a 1-year high of $209.38.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $2.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.09. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Rockwell Automation had a return on equity of 48.24% and a net margin of 5.97%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $1.69 EPS. As a group, equities research analysts forecast that Rockwell Automation will post 8.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Monday, November 12th will be issued a dividend of $0.97 per share. This is a boost from Rockwell Automation’s previous quarterly dividend of $0.92. This represents a $3.88 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Thursday, November 8th. Rockwell Automation’s dividend payout ratio (DPR) is presently 45.38%.
Rockwell Automation announced that its board has authorized a stock buyback program on Thursday, September 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In related news, VP Susan Schmitt sold 4,500 shares of Rockwell Automation stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $175.02, for a total transaction of $787,590.00. Following the completion of the sale, the vice president now directly owns 15,967 shares of the company’s stock, valued at approximately $2,794,544.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.65% of the company’s stock.
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About Rockwell Automation
Rockwell Automation Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.
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