CI Investments Inc. Grows Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

CI Investments Inc. boosted its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 96.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,552 shares of the industrial products company’s stock after purchasing an additional 1,252 shares during the quarter. CI Investments Inc.’s holdings in Rockwell Automation were worth $563,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. OPSEU Pension Plan Trust Fund raised its stake in Rockwell Automation by 6.4% during the third quarter. OPSEU Pension Plan Trust Fund now owns 5,707 shares of the industrial products company’s stock valued at $1,264,000 after purchasing an additional 341 shares in the last quarter. National Asset Management Inc. purchased a new stake in shares of Rockwell Automation in the third quarter valued at $445,000. Victory Capital Management Inc. raised its stake in shares of Rockwell Automation by 19.2% in the third quarter. Victory Capital Management Inc. now owns 229,637 shares of the industrial products company’s stock valued at $50,676,000 after acquiring an additional 36,944 shares during the period. HNP Capital LLC purchased a new stake in shares of Rockwell Automation in the third quarter valued at $223,000. Finally, LPL Financial LLC raised its stake in shares of Rockwell Automation by 6.9% in the third quarter. LPL Financial LLC now owns 52,824 shares of the industrial products company’s stock valued at $11,657,000 after acquiring an additional 3,408 shares during the period. 76.39% of the stock is currently owned by institutional investors.

In other news, SVP Christopher Nardecchia sold 319 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $245.73, for a total value of $78,387.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Patrick P. Goris sold 26,332 shares of the firm’s stock in a transaction dated Friday, November 13th. The shares were sold at an average price of $238.18, for a total transaction of $6,271,755.76. Following the completion of the sale, the chief financial officer now owns 13,211 shares in the company, valued at $3,146,595.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,708 shares of company stock worth $13,108,209. 0.77% of the stock is owned by company insiders.

Several brokerages have recently weighed in on ROK. Berenberg Bank began coverage on shares of Rockwell Automation in a research note on Thursday, August 20th. They issued a “buy” rating and a $270.00 target price on the stock. Credit Suisse Group increased their target price on shares of Rockwell Automation from $226.00 to $250.00 and gave the company a “neutral” rating in a research note on Wednesday, November 11th. William Blair reissued a “market perform” rating on shares of Rockwell Automation in a research note on Wednesday, July 29th. Rosenblatt Securities increased their target price on shares of Rockwell Automation from $205.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, November 11th. Finally, Daiwa Capital Markets raised shares of Rockwell Automation from a “neutral” rating to an “outperform” rating and set a $240.00 price target on the stock in a research note on Wednesday, September 23rd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $225.24.

Shares of Rockwell Automation stock opened at $247.63 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.31 and a quick ratio of 1.01. Rockwell Automation, Inc. has a 1 year low of $115.38 and a 1 year high of $267.48. The firm’s 50-day moving average is $241.13 and its two-hundred day moving average is $222.63. The stock has a market cap of $28.77 billion, a price-to-earnings ratio of 37.58, a PEG ratio of 4.78 and a beta of 1.47.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Sunday, November 15th. The industrial products company reported $1.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.10. Rockwell Automation had a net margin of 11.85% and a return on equity of 105.45%. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the business earned $2.01 EPS. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. On average, equities analysts expect that Rockwell Automation, Inc. will post 7.54 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Monday, November 16th will be issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 1.73%. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.02. The ex-dividend date is Friday, November 13th. Rockwell Automation’s dividend payout ratio is presently 49.37%.

Rockwell Automation Company Profile

Rockwell Automation, Inc provides industrial automation and digital transformation solutions. It operates in two segments, Architecture & Software, and Control Products & Solutions. The Architecture & Software segment offers a portfolio of automation and information platforms, including hardware and software.

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Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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