New Mexico Educational Retirement Board raised its holdings in shares of Rockwell Automation (NYSE:ROK) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,326 shares of the industrial products company’s stock after purchasing an additional 400 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Rockwell Automation were worth $2,420,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ark Investment Management LLC increased its position in shares of Rockwell Automation by 48.2% during the second quarter. Ark Investment Management LLC now owns 3,409 shares of the industrial products company’s stock valued at $552,000 after buying an additional 1,109 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Rockwell Automation during the second quarter valued at about $315,000. Verition Fund Management LLC bought a new stake in shares of Rockwell Automation during the second quarter valued at about $207,000. Griffin Asset Management Inc. bought a new stake in shares of Rockwell Automation during the second quarter valued at about $453,000. Finally, Frontier Investment Mgmt Co. bought a new stake in shares of Rockwell Automation during the second quarter valued at about $620,000. 72.35% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on ROK shares. cut Rockwell Automation from a “hold” rating to a “reduce” rating in a research report on Thursday, November 2nd. Oppenheimer reiterated a “hold” rating on shares of Rockwell Automation in a research report on Thursday, November 9th. Citigroup upped their price target on Rockwell Automation from $187.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, November 10th. Zacks Investment Research cut Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Finally, Wolfe Research upgraded Rockwell Automation from a “market perform” rating to an “outperform” rating in a research report on Monday, November 20th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $185.00.
Rockwell Automation (ROK) opened at $185.56 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.98 and a quick ratio of 1.73. The firm has a market cap of $23,969.72, a P/E ratio of 26.95, a P/E/G ratio of 2.12 and a beta of 1.17. Rockwell Automation has a 52-week low of $148.31 and a 52-week high of $210.72.
Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.22. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Rockwell Automation had a net margin of 5.85% and a return on equity of 39.45%. Rockwell Automation’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.75 earnings per share. analysts anticipate that Rockwell Automation will post 7.79 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Tuesday, February 20th will be given a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Friday, February 16th. Rockwell Automation’s dividend payout ratio (DPR) is 117.19%.
Rockwell Automation announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 24th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
In other Rockwell Automation news, VP Steven W. Etzel sold 514 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $190.75, for a total value of $98,045.50. Following the completion of the sale, the vice president now owns 7,737 shares of the company’s stock, valued at $1,475,832.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Patrick P. Goris sold 145 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $192.36, for a total value of $27,892.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,397 shares of company stock worth $22,666,808. 1.65% of the stock is owned by company insiders.
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Rockwell Automation Company Profile
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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