Transcend Capital Advisors LLC increased its position in shares of Rockwell Automation, Inc. (NYSE:ROK – Get Rating) by 20.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,183 shares of the industrial products company’s stock after purchasing an additional 371 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Rockwell Automation were worth $611,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Hilltop Holdings Inc. lifted its stake in Rockwell Automation by 6.3% during the fourth quarter. Hilltop Holdings Inc. now owns 1,261 shares of the industrial products company’s stock worth $440,000 after purchasing an additional 75 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its stake in Rockwell Automation by 3.1% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 16,418 shares of the industrial products company’s stock valued at $5,727,000 after buying an additional 496 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Rockwell Automation by 3.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,110 shares of the industrial products company’s stock valued at $736,000 after buying an additional 73 shares during the last quarter. Advisor Group Holdings Inc. lifted its stake in Rockwell Automation by 1.4% in the fourth quarter. Advisor Group Holdings Inc. now owns 44,216 shares of the industrial products company’s stock valued at $15,387,000 after buying an additional 604 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Rockwell Automation by 1.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 67,196 shares of the industrial products company’s stock valued at $23,442,000 after buying an additional 943 shares during the last quarter. Hedge funds and other institutional investors own 78.21% of the company’s stock.
NYSE:ROK opened at $198.71 on Monday. The business’s 50-day moving average price is $211.00 and its 200 day moving average price is $262.82. The firm has a market cap of $23.10 billion, a P/E ratio of 36.13, a PEG ratio of 2.04 and a beta of 1.38. Rockwell Automation, Inc. has a 52-week low of $190.08 and a 52-week high of $354.99. The company has a quick ratio of 0.78, a current ratio of 1.09 and a debt-to-equity ratio of 1.18.
Rockwell Automation (NYSE:ROK – Get Rating) last released its earnings results on Tuesday, May 3rd. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.61). The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.98 billion. Rockwell Automation had a return on equity of 35.96% and a net margin of 8.81%. Rockwell Automation’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.41 earnings per share. Sell-side analysts expect that Rockwell Automation, Inc. will post 9.22 EPS for the current year.
Rockwell Automation declared that its Board of Directors has authorized a share buyback program on Tuesday, May 3rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Monday, August 15th will be paid a $1.12 dividend. The ex-dividend date is Friday, August 12th. This represents a $4.48 dividend on an annualized basis and a yield of 2.25%. Rockwell Automation’s dividend payout ratio is currently 81.45%.
In related news, Director Patricia A. Watson purchased 1,110 shares of the company’s stock in a transaction that occurred on Thursday, May 5th. The shares were purchased at an average price of $219.58 per share, with a total value of $243,733.80. Following the purchase, the director now owns 4,827 shares of the company’s stock, valued at approximately $1,059,912.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Cyril Perducat sold 664 shares of Rockwell Automation stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $217.75, for a total value of $144,586.00. Following the completion of the transaction, the senior vice president now directly owns 1,576 shares in the company, valued at approximately $343,174. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.
ROK has been the topic of a number of recent research reports. The Goldman Sachs Group cut their target price on Rockwell Automation from $294.00 to $252.00 and set a “sell” rating on the stock in a research note on Thursday, April 7th. StockNews.com started coverage on Rockwell Automation in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. JPMorgan Chase & Co. cut their price objective on shares of Rockwell Automation from $220.00 to $200.00 in a research note on Thursday, May 5th. Oppenheimer cut their price objective on shares of Rockwell Automation from $360.00 to $290.00 in a research note on Wednesday, May 4th. Finally, Morgan Stanley cut their price objective on shares of Rockwell Automation from $277.00 to $260.00 and set an “overweight” rating on the stock in a research note on Monday, June 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $260.76.
Rockwell Automation Company Profile (Get Rating)
Rockwell Automation, Inc provides industrial automation and digital transformation solutions in the United States and internationally. The company operates in three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products, and services.
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