Norinchukin Bank The increased its position in Rockwell Automation (NYSE:ROK) by 7.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,275 shares of the industrial products company’s stock after acquiring an additional 720 shares during the quarter. Norinchukin Bank The’s holdings in Rockwell Automation were worth $2,017,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ark Investment Management LLC boosted its stake in Rockwell Automation by 48.2% in the 2nd quarter. Ark Investment Management LLC now owns 3,409 shares of the industrial products company’s stock worth $552,000 after purchasing an additional 1,109 shares during the period. Cubist Systematic Strategies LLC bought a new position in Rockwell Automation in the 2nd quarter worth approximately $315,000. Verition Fund Management LLC bought a new position in Rockwell Automation in the 2nd quarter worth approximately $207,000. Assenagon Asset Management S.A. bought a new position in Rockwell Automation in the 3rd quarter worth approximately $755,000. Finally, Rockefeller Financial Services Inc. bought a new position in Rockwell Automation in the 3rd quarter worth approximately $143,000. 72.36% of the stock is owned by institutional investors.
Shares of Rockwell Automation (NYSE:ROK) opened at $185.29 on Friday. The stock has a market capitalization of $23,505.87, a price-to-earnings ratio of 26.43, a P/E/G ratio of 2.07 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 debt-to-equity ratio of 0.57, a current ratio of 1.98 and a quick ratio of 1.73.
Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.22. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.60 billion. Rockwell Automation had a return on equity of 39.45% and a net margin of 5.85%. Rockwell Automation’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $1.75 earnings per share. analysts anticipate that Rockwell Automation will post 7.79 EPS for the current year.
Rockwell Automation announced that its board has authorized a share repurchase program 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 buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Tuesday, February 20th will be given a $0.835 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $3.34 dividend on an annualized basis and a yield of 1.80%. Rockwell Automation’s dividend payout ratio is presently 117.19%.
In other Rockwell Automation news, insider John P. Mcdermott sold 1,950 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $187.08, for a total value of $364,806.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Blake D. Moret sold 5,309 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $190.75, for a total value of $1,012,691.75. Following the completion of the sale, the chief executive officer now owns 30,720 shares in the company, valued at approximately $5,859,840. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 120,347 shares of company stock valued at $23,031,614. 1.65% of the stock is owned by corporate insiders.
ROK has been the subject of several recent analyst reports. Goldman Sachs Group restated a “neutral” rating and issued a $193.00 price target on shares of Rockwell Automation in a research note on Friday, December 8th. Daiwa Capital Markets assumed coverage on Rockwell Automation in a research note on Wednesday, December 20th. They issued a “neutral” rating and a $199.00 price target for the company. downgraded Rockwell Automation from a “hold” rating to a “reduce” rating in a research report on Thursday, November 2nd. Stifel Nicolaus reiterated a “hold” rating and set a $198.00 target price on shares of Rockwell Automation in a research report on Monday, December 11th. Finally, Oppenheimer reiterated a “hold” rating on shares of Rockwell Automation in a research report on Thursday, November 9th. Two research 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. The stock presently has a consensus rating of “Hold” and a consensus target price of $190.00.
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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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