LPL Financial LLC boosted its stake in Rockwell Automation, Inc. (NYSE:ROK) by 6.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,824 shares of the industrial products company’s stock after purchasing an additional 3,408 shares during the period. LPL Financial LLC’s holdings in Rockwell Automation were worth $11,657,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. FMR LLC grew its position in shares of Rockwell Automation by 268.3% during the 2nd quarter. FMR LLC now owns 1,442,678 shares of the industrial products company’s stock valued at $307,290,000 after acquiring an additional 1,050,942 shares during the period. Vanguard Group Inc. grew its position in shares of Rockwell Automation by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 11,932,141 shares of the industrial products company’s stock valued at $2,541,546,000 after acquiring an additional 571,279 shares during the period. Bank of America Corp DE grew its position in shares of Rockwell Automation by 19.8% during the 2nd quarter. Bank of America Corp DE now owns 1,606,163 shares of the industrial products company’s stock valued at $342,112,000 after acquiring an additional 264,964 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Rockwell Automation by 339.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 333,953 shares of the industrial products company’s stock valued at $71,132,000 after acquiring an additional 257,882 shares during the period. Finally, Alleghany Corp DE bought a new stake in shares of Rockwell Automation during the 3rd quarter valued at $49,893,000. 76.39% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on ROK. William Blair restated a “market perform” rating on shares of Rockwell Automation in a research note on Wednesday, July 29th. JPMorgan Chase & Co. lifted their target price on shares of Rockwell Automation from $155.00 to $188.00 and gave the company an “underweight” rating in a research note on Wednesday, October 7th. Stephens began coverage on shares of Rockwell Automation in a research note on Thursday, October 15th. They set an “equal weight” rating on the stock. Daiwa Capital Markets upgraded shares of Rockwell Automation from a “neutral” rating to an “outperform” rating and set a $240.00 target price on the stock in a research note on Wednesday, September 23rd. Finally, Berenberg Bank began coverage on shares of Rockwell Automation in a research note on Thursday, August 20th. They set a “buy” rating and a $270.00 target price on the stock. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. Rockwell Automation has an average rating of “Hold” and a consensus price target of $225.24.
In related news, CFO Patrick P. Goris sold 26,332 shares of the company’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 transaction, the chief financial officer now directly owns 13,211 shares in the company, valued at approximately $3,146,595.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher Nardecchia sold 319 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $245.73, for a total transaction of $78,387.87. The disclosure for this sale can be found here. Insiders have sold a total of 54,708 shares of company stock worth $13,108,209 over the last quarter. 0.77% of the stock is currently owned by insiders.
Rockwell Automation stock opened at $247.63 on Friday. The company’s 50-day moving average price is $241.13 and its 200-day moving average price is $222.63. Rockwell Automation, Inc. has a twelve month low of $115.38 and a twelve month high of $267.48. The company has a quick ratio of 1.01, a current ratio of 1.31 and a debt-to-equity ratio of 1.81. The company has a market cap of $28.77 billion, a PE ratio of 37.58, a price-to-earnings-growth ratio of 4.78 and a beta of 1.47.
Rockwell Automation (NYSE:ROK) last posted its earnings results on Sunday, November 15th. The industrial products company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.10. Rockwell Automation had a net margin of 11.85% and a return on equity of 105.45%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the firm posted $2.01 EPS. The business’s quarterly revenue was down 9.3% on a year-over-year basis. As a group, sell-side analysts expect that Rockwell Automation, Inc. will post 7.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Monday, November 16th will be issued a $1.07 dividend. The ex-dividend date of this dividend is Friday, November 13th. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.02. This represents a $4.28 dividend on an annualized basis and a dividend yield of 1.73%. Rockwell Automation’s payout ratio is 49.37%.
About Rockwell Automation
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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