Renaissance Technologies LLC Invests $452,000 in Rockwell Automation (ROK) Stock

Renaissance Technologies LLC bought a new stake in shares of Rockwell Automation (NYSE:ROK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,300 shares of the industrial products company’s stock, valued at approximately $452,000.

Several other large investors also recently added to or reduced their stakes in the company. North Star Investment Management Corp. acquired a new position in Rockwell Automation in the 4th quarter worth about $398,000. Gofen & Glossberg LLC IL acquired a new stake in shares of Rockwell Automation in the fourth quarter valued at about $202,000. Heathbridge Capital Management Ltd. increased its stake in shares of Rockwell Automation by 0.8% in the fourth quarter. Heathbridge Capital Management Ltd. now owns 125,650 shares of the industrial products company’s stock valued at $24,671,000 after buying an additional 950 shares during the period. Davis R M Inc. acquired a new stake in shares of Rockwell Automation in the fourth quarter valued at about $2,401,000. Finally, Bank of Montreal Can increased its stake in shares of Rockwell Automation by 2.0% in the fourth quarter. Bank of Montreal Can now owns 215,888 shares of the industrial products company’s stock valued at $42,392,000 after buying an additional 4,192 shares during the period. Hedge funds and other institutional investors own 75.16% of the company’s stock.

In related news, SVP Elik I. Fooks sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $186.50, for a total transaction of $932,500.00. Following the transaction, the senior vice president now owns 13,910 shares in the company, valued at approximately $2,594,215. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John P. Mcdermott sold 7,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $187.15, for a total value of $1,310,050.00. Following the transaction, the insider now owns 45,303 shares in the company, valued at approximately $8,478,456.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,050 shares of company stock worth $2,627,745. Company insiders own 1.65% of the company’s stock.

NYSE:ROK opened at $179.75 on Friday. The firm has a market cap of $22.61 billion, a P/E ratio of 26.59, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. Rockwell Automation has a 52-week low of $178.14 and a 52-week high of $179.94. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.10 and a quick ratio of 1.79.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, April 25th. The industrial products company reported $1.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.07. Rockwell Automation had a return on equity of 42.38% and a net margin of 6.34%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. The company’s revenue was up 6.2% compared to the same quarter last year. equities research analysts anticipate that Rockwell Automation will post 7.88 EPS for the current year.

Rockwell Automation declared that its board has authorized a share repurchase program on Wednesday, January 24th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 11th. Stockholders of record on Monday, May 14th will be issued a $0.92 dividend. The ex-dividend date is Friday, May 11th. This represents a $3.68 annualized dividend and a dividend yield of 2.05%. This is an increase from Rockwell Automation’s previous quarterly dividend of $0.84. Rockwell Automation’s payout ratio is currently 54.44%.

Several equities research analysts recently commented on ROK shares. Zacks Investment Research upgraded Rockwell Automation from a “hold” rating to a “buy” rating and set a $202.00 target price on the stock in a research report on Thursday. ValuEngine upgraded Rockwell Automation from a “hold” rating to a “buy” rating in a research report on Monday. TheStreet upgraded Rockwell Automation from a “c+” rating to a “b” rating in a report on Wednesday, April 25th. Morgan Stanley cut their price target on Rockwell Automation from $206.00 to $187.00 and set an “equal weight” rating on the stock in a report on Monday, April 30th. Finally, Barclays cut their price target on Rockwell Automation from $190.00 to $173.00 and set an “equal weight” rating on the stock in a report on Thursday, April 26th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. Rockwell Automation has a consensus rating of “Hold” and an average price target of $186.21.

About Rockwell Automation

Rockwell Automation Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.

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

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