Chartwell Investment Partners LLC Reduces Position in Rockwell Automation (ROK)

Chartwell Investment Partners LLC lowered its holdings in shares of Rockwell Automation (NYSE:ROK) by 39.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,339 shares of the industrial products company’s stock after selling 3,546 shares during the period. Chartwell Investment Partners LLC’s holdings in Rockwell Automation were worth $1,048,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Advisory Services Network LLC boosted its stake in Rockwell Automation by 83.8% during the fourth quarter. Advisory Services Network LLC now owns 7,017 shares of the industrial products company’s stock worth $1,378,000 after acquiring an additional 3,200 shares in the last quarter. Global X Management Co. LLC boosted its stake in Rockwell Automation by 45.0% during the fourth quarter. Global X Management Co. LLC now owns 20,176 shares of the industrial products company’s stock worth $3,962,000 after acquiring an additional 6,257 shares in the last quarter. Toronto Dominion Bank boosted its stake in Rockwell Automation by 4.0% during the fourth quarter. Toronto Dominion Bank now owns 55,445 shares of the industrial products company’s stock worth $10,886,000 after acquiring an additional 2,136 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Rockwell Automation by 5.5% during the fourth quarter. Wells Fargo & Company MN now owns 1,592,947 shares of the industrial products company’s stock worth $312,776,000 after acquiring an additional 83,477 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Rockwell Automation by 153.6% during the fourth quarter. First Trust Advisors LP now owns 226,469 shares of the industrial products company’s stock worth $44,467,000 after acquiring an additional 137,150 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Automation (NYSE:ROK) opened at $183.95 on Thursday. The stock has a market cap of $23,597.87, a P/E ratio of 26.53, a PEG ratio of 2.08 and a beta of 1.17. Rockwell Automation has a 52 week low of $148.31 and a 52 week high of $210.72. The company has a quick ratio of 1.73, a current ratio of 1.98 and a debt-to-equity ratio of 0.57.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.96 earnings per share for the quarter, beating the 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 previous year, the company earned $1.75 earnings per share. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. research analysts forecast that Rockwell Automation will post 7.79 EPS for the current year.

Rockwell Automation declared that its board has authorized a stock repurchase plan on Wednesday, January 24th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Tuesday, February 20th will be issued a dividend of $0.835 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $3.34 annualized dividend and a dividend yield of 1.82%. Rockwell Automation’s payout ratio is 117.19%.

In other news, CFO Patrick P. Goris sold 145 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $192.36, for a total transaction of $27,892.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Steven W. Etzel sold 514 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $190.75, for a total transaction of $98,045.50. Following the transaction, the vice president now directly owns 7,737 shares of the company’s stock, valued at $1,475,832.75. The disclosure for this sale can be found here. Insiders have sold 120,347 shares of company stock valued at $23,031,614 over the last three months. 1.65% of the stock is owned by corporate insiders.

Several equities research analysts recently commented on ROK shares. Wells Fargo & Co boosted their price objective on shares of Rockwell Automation from $190.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Wolfe Research raised shares of Rockwell Automation from a “market perform” rating to an “outperform” rating in a research note on Monday, November 20th. Oppenheimer reissued a “hold” rating on shares of Rockwell Automation in a research note on Thursday, November 9th. Daiwa Capital Markets began coverage on shares of Rockwell Automation in a research note on Wednesday, December 20th. They issued a “neutral” rating and a $199.00 target price on the stock. Finally, Morgan Stanley upped 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 note on Thursday, January 25th. 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 company’s stock. Rockwell Automation presently 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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