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.
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