Sentry Investment Management LLC lessened its holdings in Rockwell Automation (NYSE:ROK) by 8.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,203 shares of the industrial products company’s stock after selling 745 shares during the period. Sentry Investment Management LLC’s holdings in Rockwell Automation were worth $1,538,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. IFM Investors Pty Ltd increased its stake in Rockwell Automation by 45.9% in the 2nd quarter. IFM Investors Pty Ltd now owns 5,922 shares of the industrial products company’s stock valued at $984,000 after buying an additional 1,864 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Rockwell Automation by 13.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 21,021 shares of the industrial products company’s stock valued at $3,493,000 after buying an additional 2,560 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in Rockwell Automation by 23.3% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 44,620 shares of the industrial products company’s stock valued at $7,417,000 after buying an additional 8,434 shares during the last quarter. Lodestar Investment Counsel LLC IL increased its stake in Rockwell Automation by 2.3% in the 2nd quarter. Lodestar Investment Counsel LLC IL now owns 51,326 shares of the industrial products company’s stock valued at $8,532,000 after buying an additional 1,176 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in Rockwell Automation in the 2nd quarter valued at about $578,000. Institutional investors own 74.67% of the company’s stock.
ROK has been the subject of several analyst reports. Goldman Sachs Group lowered shares of Rockwell Automation from a “neutral” rating to a “sell” rating and set a $156.00 price objective for the company. in a research note on Monday, July 16th. Zacks Investment Research upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a research note on Wednesday, July 18th. Barclays reiterated a “hold” rating and issued a $176.00 price objective on shares of Rockwell Automation in a research note on Thursday, July 26th. Morgan Stanley increased their price objective on shares of Rockwell Automation from $187.00 to $192.00 and gave the company an “equal weight” rating in a research note on Friday, July 27th. Finally, UBS Group decreased their price objective on shares of Rockwell Automation from $210.00 to $205.00 and set a “buy” rating for the company in a research note on Thursday, August 30th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Rockwell Automation presently has a consensus rating of “Hold” and a consensus price target of $179.46.
In other news, VP Susan Schmitt sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $175.02, for a total transaction of $787,590.00. Following the completion of the sale, the vice president now owns 15,967 shares in the company, valued at approximately $2,794,544.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.65% of the company’s stock.
Shares of ROK stock opened at $169.27 on Friday. The company has a quick ratio of 1.60, a current ratio of 2.12 and a debt-to-equity ratio of 0.76. Rockwell Automation has a 12-month low of $153.67 and a 12-month high of $209.38. The company has a market cap of $22.04 billion, a PE ratio of 22.04, a P/E/G ratio of 1.71 and a beta of 1.28.
Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $2.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.09. Rockwell Automation had a net margin of 8.03% and a return on equity of 57.53%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the business posted $1.69 EPS. Rockwell Automation’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts forecast that Rockwell Automation will post 9.01 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 12th will be paid a dividend of $0.97 per share. The ex-dividend date is Thursday, November 8th. This represents a $3.88 annualized dividend and a dividend yield of 2.29%. This is a positive change from Rockwell Automation’s previous quarterly dividend of $0.92. Rockwell Automation’s dividend payout ratio (DPR) is presently 45.38%.
Rockwell Automation declared that its board has approved a stock buyback program on Thursday, September 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to purchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
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Rockwell Automation Profile
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.
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