Tocqueville Asset Management L.P. grew its stake in Rockwell Automation (NYSE:ROK) by 55.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,733 shares of the industrial products company’s stock after buying an additional 16,272 shares during the period. Tocqueville Asset Management L.P.’s holdings in Rockwell Automation were worth $8,576,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Centaurus Financial Inc. acquired a new stake in shares of Rockwell Automation in the second quarter worth about $103,000. Fort L.P. acquired a new stake in shares of Rockwell Automation in the second quarter worth about $117,000. SRS Capital Advisors Inc. lifted its position in shares of 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 buying an additional 644 shares during the last quarter. Ropes Wealth Advisors LLC lifted its position in shares of 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 buying an additional 500 shares during the last quarter. Finally, Gradient Investments LLC lifted its position in shares of 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 buying an additional 984 shares during the last quarter. 75.18% of the stock is owned by institutional investors.
NYSE ROK opened at $161.55 on Friday. Rockwell Automation has a twelve month low of $153.67 and a twelve 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. The stock has a market cap of $20.18 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 1.59 and a beta of 1.29.
Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $2.11 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.09. Rockwell Automation had a return on equity of 57.53% and a net margin of 8.03%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the firm earned $1.69 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, analysts expect that Rockwell Automation will post 9.03 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Monday, November 12th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, November 8th. This is a boost from Rockwell Automation’s previous quarterly dividend of $0.92. Rockwell Automation’s payout ratio is currently 47.84%.
Rockwell Automation declared that its board has approved a stock repurchase plan on Thursday, September 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
A number of analysts have weighed in on ROK shares. Stephens started coverage on Rockwell Automation in a research report on Monday, November 19th. They issued an “overweight” rating and a $200.00 price target for the company. Zacks Investment Research cut Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Friday, November 30th. ValuEngine raised Rockwell Automation from a “hold” rating to a “buy” rating in a research report on Friday, September 21st. Credit Suisse Group boosted their price target on Rockwell Automation from $171.00 to $173.00 and gave the stock an “underperform” rating in a research report on Thursday, November 8th. Finally, Citigroup set a $185.00 price objective on Rockwell Automation and gave the stock a “hold” rating in a research report on Thursday, November 8th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $178.87.
In other Rockwell Automation news, CFO Patrick P. Goris sold 577 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $175.83, for a total value of $101,453.91. Following the completion of the transaction, the chief financial officer now owns 8,326 shares of the company’s stock, valued at approximately $1,463,960.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Steven W. Etzel sold 645 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $175.90, for a total value of $113,455.50. Following the completion of the transaction, the vice president now directly owns 37,731 shares of the company’s stock, valued at approximately $6,636,882.90. The disclosure for this sale can be found here. Insiders have sold a total of 34,547 shares of company stock valued at $6,070,978 in the last three months. 1.65% of the stock is owned by insiders.
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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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