MainStreet Investment Advisors LLC acquired a new position in Rockwell Automation (NYSE:ROK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,652 shares of the industrial products company’s stock, valued at approximately $324,000.
Other institutional investors have also recently modified their holdings of the company. Cerebellum GP LLC acquired a new stake in shares of Rockwell Automation in the fourth quarter worth $130,000. Valeo Financial Advisors LLC acquired a new stake in shares of Rockwell Automation in the third quarter worth $131,000. New England Private Wealth Advisors LLC acquired a new stake in shares of Rockwell Automation in the third quarter worth $200,000. Gofen & Glossberg LLC IL acquired a new stake in shares of Rockwell Automation in the fourth quarter worth $202,000. Finally, Cpwm LLC acquired a new stake in shares of Rockwell Automation in the fourth quarter worth $204,000. Institutional investors and hedge funds own 73.24% of the company’s stock.
A number of brokerages have recently weighed in on ROK. UBS began coverage on shares of Rockwell Automation in a research note on Monday, January 22nd. They issued a “buy” rating for the company. JPMorgan Chase & Co. boosted their price objective on shares of Rockwell Automation from $182.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Citigroup dropped their target price on shares of Rockwell Automation from $214.00 to $209.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Wells Fargo boosted their target price on shares of Rockwell Automation from $190.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. Finally, Morgan Stanley boosted their target price on shares of Rockwell Automation from $194.00 to $206.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. Rockwell Automation has an average rating of “Hold” and a consensus price target of $190.00.
Rockwell Automation (NYSE:ROK) opened at $183.98 on Friday. Rockwell Automation has a 52-week low of $148.31 and a 52-week high of $210.72. The stock has a market cap of $23,509.70, a price-to-earnings ratio of 64.55, a P/E/G ratio of 2.08 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.73 and a current ratio of 1.98.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.22. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.60 billion. Rockwell Automation had a net margin of 5.85% and a return on equity of 39.45%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.75 EPS. analysts expect that Rockwell Automation will post 7.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Tuesday, February 20th were issued a $0.835 dividend. This represents a $3.34 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Friday, February 16th. Rockwell Automation’s dividend payout ratio (DPR) is presently 117.19%.
Rockwell Automation announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 24th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In other Rockwell Automation news, insider Theodore D. Crandall sold 10,000 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $202.94, for a total value of $2,029,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP David M. Dorgan sold 10,400 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $202.41, for a total transaction of $2,105,064.00. Following the completion of the sale, the vice president now directly owns 12,853 shares in the company, valued at approximately $2,601,575.73. The disclosure for this sale can be found here. Insiders sold a total of 123,627 shares of company stock worth $23,604,488 in the last three months. Insiders own 1.65% of the company’s stock.
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Rockwell Automation Profile
Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.
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