CIBC Asset Management Inc Grows Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

CIBC Asset Management Inc lifted its stake in Rockwell Automation, Inc. (NYSE:ROK) by 2.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,513 shares of the industrial products company’s stock after purchasing an additional 301 shares during the quarter. CIBC Asset Management Inc’s holdings in Rockwell Automation were worth $3,091,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Keebeck Alpha LP purchased a new position in shares of Rockwell Automation in the 3rd quarter valued at approximately $213,000. Guyasuta Investment Advisors Inc. raised its position in shares of Rockwell Automation by 39.8% in the 3rd quarter. Guyasuta Investment Advisors Inc. now owns 7,028 shares of the industrial products company’s stock valued at $2,067,000 after purchasing an additional 2,000 shares during the last quarter. Inscription Capital LLC purchased a new position in shares of Rockwell Automation in the 3rd quarter valued at approximately $563,000. Principal Financial Group Inc. raised its position in shares of Rockwell Automation by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 150,023 shares of the industrial products company’s stock valued at $44,112,000 after purchasing an additional 2,507 shares during the last quarter. Finally, Boston Private Wealth LLC raised its position in shares of Rockwell Automation by 17.5% in the 3rd quarter. Boston Private Wealth LLC now owns 1,162 shares of the industrial products company’s stock valued at $342,000 after purchasing an additional 173 shares during the last quarter. 76.96% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Terry L. Riesterer sold 1,900 shares of Rockwell Automation stock in a transaction on Thursday, November 4th. The stock was sold at an average price of $342.68, for a total transaction of $651,092.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Ernest Nicolas sold 414 shares of Rockwell Automation stock in a transaction on Tuesday, November 2nd. The stock was sold at an average price of $341.57, for a total value of $141,409.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,736 shares of company stock worth $8,842,299. 0.68% of the stock is currently owned by corporate insiders.

Rockwell Automation stock opened at $325.05 on Friday. The company’s fifty day moving average price is $341.02 and its 200 day moving average price is $319.48. Rockwell Automation, Inc. has a 1 year low of $237.13 and a 1 year high of $354.99. The stock has a market capitalization of $37.70 billion, a P/E ratio of 28.05, a P/E/G ratio of 3.46 and a beta of 1.37. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.76 and a current ratio of 1.02.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Tuesday, November 2nd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.16. Rockwell Automation had a net margin of 19.41% and a return on equity of 47.68%. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter last year, the company earned $1.87 EPS. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. Sell-side analysts predict that Rockwell Automation, Inc. will post 10.73 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 10th. Shareholders of record on Monday, November 15th were paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 1.38%. The ex-dividend date was Friday, November 12th. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.07. Rockwell Automation’s payout ratio is 38.65%.

ROK has been the subject of several research analyst reports. Credit Suisse Group increased their price objective on shares of Rockwell Automation from $305.00 to $332.00 and gave the company a “neutral” rating in a research report on Wednesday, November 3rd. Morgan Stanley raised their price target on shares of Rockwell Automation from $387.00 to $395.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 15th. Argus raised their price target on shares of Rockwell Automation from $330.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, December 14th. Wells Fargo & Company raised their price target on shares of Rockwell Automation from $256.00 to $284.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 3rd. Finally, Mizuho assumed coverage on shares of Rockwell Automation in a research report on Thursday, December 16th. They set a “neutral” rating and a $345.00 price target for the company. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $320.76.

About Rockwell Automation

Rockwell Automation, Inc engages in the provision of industrial automation and information services. It operates through the following segments: Intelligent Devices, Software & Control, and Lifecycle Services. The Intelligent Devices segment combines a comprehensive portfolio of smart products that create the foundation of an agile, resilient and sustainable production system.

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

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