Heathbridge Capital Management Ltd. trimmed its stake in Rockwell Automation (NYSE:ROK) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,760 shares of the industrial products company’s stock after selling 2,350 shares during the period. Rockwell Automation comprises approximately 5.7% of Heathbridge Capital Management Ltd.’s investment portfolio, making the stock its 14th biggest position. Heathbridge Capital Management Ltd. owned approximately 0.14% of Rockwell Automation worth $26,328,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Coastal Capital Group Inc. acquired a new stake in Rockwell Automation during the 2nd quarter worth about $25,000. Griffin Asset Management Inc. acquired a new stake in Rockwell Automation during the 2nd quarter worth about $26,000. Capital Advisors Ltd. LLC grew its holdings in Rockwell Automation by 426.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 179 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 145 shares during the period. River & Mercantile Asset Management LLP acquired a new stake in Rockwell Automation during the 2nd quarter worth about $31,000. Finally, Shine Investment Advisory Services Inc. grew its holdings in Rockwell Automation by 112.9% during the 3rd quarter. Shine Investment Advisory Services Inc. now owns 198 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 105 shares during the period. Hedge funds and other institutional investors own 72.87% of the company’s stock.
Shares of ROK stock traded down $0.23 on Friday, reaching $177.82. 627,810 shares of the company were exchanged, compared to its average volume of 905,263. The company has a market cap of $21.28 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 2.69 and a beta of 1.41. The company has a 50-day moving average of $167.75 and a 200-day moving average of $162.21. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.51 and a quick ratio of 1.17. Rockwell Automation has a one year low of $141.46 and a one year high of $191.48.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a $1.02 dividend. This is a boost from Rockwell Automation’s previous quarterly dividend of $0.97. The ex-dividend date is Friday, November 8th. This represents a $4.08 annualized dividend and a yield of 2.29%. Rockwell Automation’s dividend payout ratio (DPR) is presently 47.84%.
A number of brokerages have weighed in on ROK. Citigroup decreased their price target on Rockwell Automation from $180.00 to $174.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Barclays reiterated a “hold” rating and set a $159.00 price target on shares of Rockwell Automation in a report on Friday, October 4th. JPMorgan Chase & Co. increased their price target on Rockwell Automation from $145.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Co downgraded Rockwell Automation from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $185.00 to $165.00 in a report on Monday, September 30th. Finally, Zacks Investment Research cut shares of Rockwell Automation from a “hold” rating to a “sell” rating and set a $177.00 price objective on the stock. in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $171.36.
In related news, CEO Blake D. Moret sold 1,700 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $179.07, for a total value of $304,419.00. Following the transaction, the chief executive officer now owns 41,395 shares of the company’s stock, valued at approximately $7,412,602.65. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Blake D. Moret sold 7,300 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $179.67, for a total transaction of $1,311,591.00. Following the completion of the transaction, the chief executive officer now directly owns 46,995 shares in the company, valued at approximately $8,443,591.65. The disclosure for this sale can be found here. 1.43% of the stock is currently owned by company insiders.
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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