Bridgewater Associates LP purchased a new position in shares of Rockwell Automation (NYSE:ROK) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,681 shares of the industrial products company’s stock, valued at approximately $3,316,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cornerstone Wealth Management LLC acquired a new stake in Rockwell Automation during the second quarter worth $260,000. Advisory Services Network LLC grew its stake in shares of Rockwell Automation by 8.8% in the second quarter. Advisory Services Network LLC now owns 3,502 shares of the industrial products company’s stock valued at $645,000 after buying an additional 284 shares in the last quarter. Dupont Capital Management Corp grew its stake in shares of Rockwell Automation by 12.2% in the second quarter. Dupont Capital Management Corp now owns 8,005 shares of the industrial products company’s stock valued at $1,331,000 after buying an additional 873 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Rockwell Automation by 16.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 36,049 shares of the industrial products company’s stock valued at $5,992,000 after buying an additional 5,029 shares in the last quarter. Finally, Alps Advisors Inc. acquired a new stake in shares of Rockwell Automation in the second quarter valued at $621,000. 77.08% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on ROK shares. Stephens started coverage on Rockwell Automation in a research note on Monday, November 19th. They issued an “overweight” rating and a $200.00 price objective for the company. Zacks Investment Research cut Rockwell Automation from a “buy” rating to a “hold” rating in a research note on Friday. ValuEngine raised Rockwell Automation from a “hold” rating to a “buy” rating in a research note on Friday, September 21st. Credit Suisse Group lifted their price objective on Rockwell Automation from $171.00 to $173.00 and gave the company an “underperform” rating in a research note on Thursday, November 8th. Finally, Citigroup set a $185.00 price objective on Rockwell Automation and gave the company a “hold” rating in a research note on Thursday, November 8th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $178.87.
NYSE:ROK opened at $174.34 on Monday. The firm has a market capitalization of $21.04 billion, a P/E ratio of 21.50, a P/E/G ratio of 1.66 and a beta of 1.28. Rockwell Automation has a 12-month low of $153.67 and a 12-month high of $209.38. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.76.
Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, November 7th. The industrial products company reported $2.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.09. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.77 billion. Rockwell Automation had a return on equity of 57.53% and a net margin of 8.03%. Rockwell Automation’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business posted $1.69 earnings per share. Equities research analysts predict that Rockwell Automation will post 9.03 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Monday, November 12th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This is a positive change from Rockwell Automation’s previous quarterly dividend of $0.92. This represents a $3.88 dividend on an annualized basis and a yield of 2.23%. Rockwell Automation’s dividend payout ratio (DPR) is 47.84%.
Rockwell Automation announced that its Board of Directors has initiated a share buyback program on Thursday, September 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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Rockwell Automation Profile
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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