GAM Holding AG grew its stake in shares of Rockwell Automation (NYSE:ROK) by 179.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 5,596 shares of the industrial products company’s stock after buying an additional 3,596 shares during the period. GAM Holding AG’s holdings in Rockwell Automation were worth $1,049,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Centaurus Financial Inc. acquired a new position in Rockwell Automation in the second quarter worth about $103,000. SRS Capital Advisors Inc. raised its position in Rockwell Automation by 3,577.8% in the third quarter. SRS Capital Advisors Inc. now owns 662 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 644 shares in the last quarter. Fort L.P. acquired a new position in Rockwell Automation in the second quarter worth about $117,000. Ropes Wealth Advisors LLC raised its position in Rockwell Automation by 200.0% in the third quarter. Ropes Wealth Advisors LLC now owns 750 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 500 shares in the last quarter. Finally, Gradient Investments LLC raised its position in Rockwell Automation by 14,057.1% in the second quarter. Gradient Investments LLC now owns 991 shares of the industrial products company’s stock worth $165,000 after purchasing an additional 984 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.
In other news, insider Theodore D. Crandall sold 13,420 shares of the stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $175.77, for a total transaction of $2,358,833.40. Following the sale, the insider now directly owns 95,994 shares of the company’s stock, valued at $16,872,865.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Frank C. Kulaszewicz sold 2,750 shares of the stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $172.84, for a total transaction of $475,310.00. Following the sale, the senior vice president now directly owns 20,588 shares in the company, valued at $3,558,429.92. The disclosure for this sale can be found here. Insiders have sold 34,547 shares of company stock worth $6,070,978 over the last three months. 1.65% of the stock is owned by insiders.
Shares of Rockwell Automation stock opened at $161.55 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The stock has a market cap of $20.69 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 1.63 and a beta of 1.29. Rockwell Automation has a 1-year low of $153.67 and a 1-year high of $209.38.
Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data 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 firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Rockwell Automation had a net margin of 8.03% and a return on equity of 57.53%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.69 earnings per share. As a group, equities analysts anticipate that Rockwell Automation will post 9.03 EPS for the current year.
Rockwell Automation announced that its board has approved a stock buyback plan on Thursday, September 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 4.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 12th will be paid 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 dividend yield of 2.40%. The ex-dividend date is Thursday, November 8th. Rockwell Automation’s dividend payout ratio is 47.84%.
Several research firms recently issued reports on ROK. Berenberg Bank set a $145.00 price target on shares of Rockwell Automation and gave the stock a “sell” rating in a research report on Monday, November 19th. ValuEngine lowered shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Zacks Investment Research raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $183.00 price objective on the stock in a research note on Tuesday, October 23rd. UBS Group decreased their price objective on shares of Rockwell Automation from $210.00 to $205.00 and set a “buy” rating on the stock in a research note on Thursday, August 30th. Finally, Wells Fargo & Co upped their price objective on shares of Rockwell Automation from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 2nd. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. Rockwell Automation presently has an average rating of “Hold” and a consensus price target of $178.87.
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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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