National Asset Management Inc. bought a new position in shares of Rockwell Automation, Inc. (NYSE:ROK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,043 shares of the industrial products company’s stock, valued at approximately $445,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in Rockwell Automation by 5.0% during the second quarter. Vanguard Group Inc. now owns 11,932,141 shares of the industrial products company’s stock worth $2,541,546,000 after acquiring an additional 571,279 shares in the last quarter. BlackRock Inc. increased its stake in shares of Rockwell Automation by 2.0% in the third quarter. BlackRock Inc. now owns 8,435,353 shares of the industrial products company’s stock valued at $1,861,513,000 after buying an additional 163,995 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Rockwell Automation by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 2,109,109 shares of the industrial products company’s stock valued at $449,238,000 after buying an additional 65,333 shares during the period. Bank of America Corp DE increased its stake in shares of Rockwell Automation by 19.8% in the second 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 buying an additional 264,964 shares during the period. Finally, FMR LLC increased its stake in shares of Rockwell Automation by 268.3% in the second quarter. FMR LLC now owns 1,442,678 shares of the industrial products company’s stock valued at $307,290,000 after buying an additional 1,050,942 shares during the period. 76.39% of the stock is owned by hedge funds and other institutional investors.
Rockwell Automation stock opened at $247.63 on Friday. The stock has a market capitalization 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, Inc. has a 52-week low of $115.38 and a 52-week high of $267.48. The stock’s 50 day moving average price is $241.13 and its two-hundred day moving average price is $222.63. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.01 and a current ratio of 1.31.
Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Sunday, November 15th. The industrial products company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.10. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Rockwell Automation had a return on equity of 105.45% and a net margin of 11.85%. The company’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.01 EPS. On average, equities research analysts forecast that Rockwell Automation, Inc. will post 7.54 EPS for the current year.
The firm also recently declared 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 dividend on an annualized basis and a dividend 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%.
In other news, VP Isaac Woods sold 297 shares of the company’s stock in a transaction that occurred on Friday, November 20th. The stock was sold at an average price of $250.07, for a total transaction of $74,270.79. Following the transaction, the vice president now directly owns 717 shares of the company’s stock, valued at $179,300.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Patrick P. Goris sold 26,332 shares of the company’s stock in a transaction that occurred on Friday, November 13th. The stock was sold at an average price of $238.18, for a total value of $6,271,755.76. Following the transaction, the chief financial officer now directly owns 13,211 shares in the company, valued at $3,146,595.98. 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 90 days. Company insiders own 0.77% of the company’s stock.
Several research analysts have recently issued reports on ROK shares. JPMorgan Chase & Co. upped their price objective on Rockwell Automation from $155.00 to $188.00 and gave the company an “underweight” rating in a research note on Wednesday, October 7th. Stephens started coverage on Rockwell Automation in a research note on Thursday, October 15th. They issued an “equal weight” rating for the company. Wells Fargo & Company reaffirmed a “hold” rating on shares of Rockwell Automation in a research note on Thursday, November 12th. Morgan Stanley upped their price objective on Rockwell Automation from $226.00 to $267.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 11th. Finally, Berenberg Bank initiated coverage on Rockwell Automation in a report on Thursday, August 20th. They issued 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 issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $225.24.
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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