Precision Path Capital LP acquired a new stake in Rockwell Automation (NYSE:ROK) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 17,000 shares of the industrial products company’s stock, valued at approximately $3,338,000. Rockwell Automation makes up approximately 2.6% of Precision Path Capital LP’s investment portfolio, making the stock its 16th biggest holding.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Profund Advisors LLC boosted its stake in shares of Rockwell Automation by 26.4% during the 4th quarter. Profund Advisors LLC now owns 4,291 shares of the industrial products company’s stock worth $843,000 after acquiring an additional 897 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Rockwell Automation during the 4th quarter worth approximately $452,000. Pitcairn Co. purchased a new stake in shares of Rockwell Automation during the 4th quarter worth approximately $206,000. Koch Industries Inc. purchased a new stake in shares of Rockwell Automation during the 4th quarter worth approximately $358,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Rockwell Automation by 202.9% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 85,389 shares of the industrial products company’s stock worth $16,766,000 after acquiring an additional 57,200 shares in the last quarter. 73.24% of the stock is currently owned by institutional investors.
Shares of Rockwell Automation (NYSE ROK) traded down $2.01 during trading on Wednesday, hitting $183.41. The company had a trading volume of 670,580 shares, compared to its average volume of 874,238. 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 1 year low of $148.31 and a 1 year high of $210.72. The firm has a market cap of $24,010.61, a P/E ratio of 64.71, a P/E/G ratio of 2.12 and a beta of 1.21.
Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.22. The firm 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%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.75 EPS. equities research analysts expect that Rockwell Automation will post 7.79 earnings per share 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. The ex-dividend date was Friday, February 16th. This represents a $3.34 annualized dividend and a yield of 1.82%. Rockwell Automation’s dividend payout ratio (DPR) is presently 117.19%.
Rockwell Automation declared that its Board of Directors has authorized a stock buyback plan on Wednesday, January 24th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
Several brokerages have recently commented on ROK. ValuEngine raised Rockwell Automation from a “hold” rating to a “buy” rating in a research note on Saturday. JPMorgan Chase & Co. boosted their price target on Rockwell Automation from $182.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Morgan Stanley boosted their price target on Rockwell Automation from $194.00 to $206.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th. UBS Group began coverage on Rockwell Automation in a research note on Monday, January 22nd. They set a “buy” rating on the stock. Finally, Barclays began coverage on Rockwell Automation in a research note on Thursday, February 15th. They set an “equal weight” rating and a $200.00 price target on the stock. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $190.00.
In other Rockwell Automation news, Director Keith D. Nosbusch sold 10,500 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $203.00, for a total value of $2,131,500.00. Following the completion of the transaction, the director now directly owns 430,199 shares in the company, valued at approximately $87,330,397. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Patrick P. Goris sold 4,900 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $200.00, for a total value of $980,000.00. Following the completion of the transaction, the chief financial officer now owns 11,706 shares of the company’s stock, valued at $2,341,200. The disclosure for this sale can be found here. Insiders sold a total of 123,627 shares of company stock valued at $23,604,488 over the last quarter. 1.28% of the stock is currently owned by insiders.
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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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