State of Tennessee Treasury Department Has $25.86 Million Position in Rockwell Automation (ROK)

State of Tennessee Treasury Department lessened its stake in shares of Rockwell Automation (NYSE:ROK) by 19.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,691 shares of the industrial products company’s stock after selling 30,798 shares during the period. State of Tennessee Treasury Department owned approximately 0.10% of Rockwell Automation worth $25,858,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Cerebellum GP LLC bought a new stake in shares of Rockwell Automation in the 4th quarter worth $130,000. Valeo Financial Advisors LLC bought a new stake in shares of Rockwell Automation in the 3rd quarter worth $131,000. Rockefeller Financial Services Inc. bought a new stake in shares of Rockwell Automation in the 3rd quarter worth $143,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Rockwell Automation in the 3rd quarter worth $186,000. Finally, Foundry Partners LLC bought a new stake in shares of Rockwell Automation in the 3rd quarter worth $200,000. 72.36% of the stock is owned by institutional investors.

A number of research firms have commented on ROK. Barclays began coverage on Rockwell Automation in a report on Thursday, February 15th. They issued an “equal weight” rating and a $200.00 target price for the company. lowered Rockwell Automation from a “hold” rating to a “reduce” rating in a report on Thursday, November 2nd. Zacks Investment Research lowered Rockwell Automation from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Goldman Sachs Group reissued a “neutral” rating and issued a $193.00 target price on shares of Rockwell Automation in a report on Friday, December 8th. Finally, JPMorgan Chase & Co. lifted their target price on Rockwell Automation from $182.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $190.00.

Rockwell Automation (NYSE ROK) opened at $185.29 on Friday. The stock has a market capitalization of $23,505.87, a price-to-earnings ratio of 26.43, a PEG ratio of 2.07 and a beta of 1.17. Rockwell Automation has a 52 week low of $148.31 and a 52 week high of $210.72. The company has a quick ratio of 1.73, a current ratio of 1.98 and a debt-to-equity ratio of 0.57.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.22. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.60 billion. Rockwell Automation had a return on equity of 39.45% and a net margin of 5.85%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the business posted $1.75 EPS. research analysts predict that Rockwell Automation will post 7.79 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Tuesday, February 20th will be paid a $0.835 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 1.80%. Rockwell Automation’s dividend payout ratio (DPR) is currently 117.19%.

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

In other news, insider Theodore D. Crandall sold 10,000 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $202.94, for a total value of $2,029,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John P. Mcdermott sold 1,950 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $187.08, for a total value of $364,806.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 120,347 shares of company stock worth $23,031,614. Company insiders own 1.65% of the company’s stock.

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About Rockwell Automation

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.

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

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