Rhumbline Advisers Reduces Position in Rockwell Automation (ROK)

Rhumbline Advisers decreased its stake in Rockwell Automation (NYSE:ROK) by 2.3% in the 4th quarter, Holdings Channel reports. The firm owned 273,217 shares of the industrial products company’s stock after selling 6,473 shares during the quarter. Rhumbline Advisers’ holdings in Rockwell Automation were worth $53,646,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cerebellum GP LLC bought a new position in Rockwell Automation in the 4th quarter valued at approximately $130,000. Valeo Financial Advisors LLC bought a new position in Rockwell Automation in the 3rd quarter valued at approximately $131,000. Rockefeller Financial Services Inc. bought a new position in Rockwell Automation in the 3rd quarter valued at approximately $143,000. Aries Wealth Management bought a new position in Rockwell Automation in the 4th quarter valued at approximately $209,000. Finally, Gofen & Glossberg LLC IL bought a new position in Rockwell Automation in the 4th quarter valued at approximately $202,000. 72.36% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Sujeet Chand sold 3,371 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $190.85, for a total transaction of $643,355.35. Following the completion of the sale, the senior vice president now directly owns 47,183 shares in the company, valued at $9,004,875.55. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Elik I. Fooks sold 904 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $190.77, for a total transaction of $172,456.08. Following the sale, the insider now owns 9,464 shares of the company’s stock, valued at $1,805,447.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,397 shares of company stock valued at $22,666,808. Corporate insiders own 1.28% of the company’s stock.

Rockwell Automation (NYSE:ROK) opened at $185.56 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.98 and a quick ratio of 1.73. Rockwell Automation has a 12-month low of $148.31 and a 12-month high of $210.72. The stock has a market cap of $23,711.60, a P/E ratio of 26.66, a price-to-earnings-growth ratio of 2.09 and a beta of 1.17.

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. Rockwell Automation had a net margin of 5.85% and a return on equity of 39.45%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the prior year, the company posted $1.75 EPS. The company’s revenue was up 6.5% on a year-over-year basis. equities research analysts predict that Rockwell Automation will post 7.79 earnings per share for the current year.

Rockwell Automation announced that its board has authorized a stock buyback program on Wednesday, January 24th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Tuesday, February 20th will be given a $0.835 dividend. This represents a $3.34 annualized dividend and a yield of 1.80%. The ex-dividend date is Friday, February 16th. Rockwell Automation’s dividend payout ratio (DPR) is currently 117.19%.

Several brokerages recently commented on ROK. Barclays began coverage on shares of Rockwell Automation in a research note on Thursday. They issued an “equal weight” rating and a $200.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Rockwell Automation from $182.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Morgan Stanley increased their price objective on shares of Rockwell Automation from $194.00 to $206.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Zacks Investment Research downgraded shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Finally, UBS Group began coverage on shares of Rockwell Automation in a research note on Monday, January 22nd. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. Rockwell Automation currently has an average rating of “Hold” and a consensus target price of $185.00.

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About Rockwell Automation

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

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