American Century Companies Inc. reduced its holdings in Rockwell Automation (NYSE:ROK) by 95.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 15,471 shares of the industrial products company’s stock after selling 346,523 shares during the period. American Century Companies Inc.’s holdings in Rockwell Automation were worth $3,038,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Pinnacle Associates Ltd. lifted its position in shares of Rockwell Automation by 3.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 7,965 shares of the industrial products company’s stock worth $1,419,000 after buying an additional 263 shares during the last quarter. Dai Ichi Life Insurance Company Ltd lifted its position in shares of Rockwell Automation by 0.9% in the 3rd quarter. Dai Ichi Life Insurance Company Ltd now owns 32,307 shares of the industrial products company’s stock worth $5,757,000 after buying an additional 285 shares during the last quarter. Amalgamated Bank lifted its position in shares of Rockwell Automation by 2.0% in the 3rd quarter. Amalgamated Bank now owns 15,472 shares of the industrial products company’s stock worth $2,757,000 after buying an additional 300 shares during the last quarter. Stephens Inc. AR lifted its position in Rockwell Automation by 19.4% in the 3rd quarter. Stephens Inc. AR now owns 1,884 shares of the industrial products company’s stock valued at $336,000 after purchasing an additional 306 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Rockwell Automation by 4.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,973 shares of the industrial products company’s stock valued at $1,566,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 72.36% of the company’s stock.
Several analysts recently weighed in on the stock. Barclays assumed coverage on shares of Rockwell Automation in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $200.00 price objective on the stock. Zacks Investment Research upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $224.00 price objective on the stock in a research report on Monday, January 29th. JPMorgan Chase & Co. lifted their price objective on shares of Rockwell Automation from $182.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Morgan Stanley lifted their price objective on shares of Rockwell Automation from $194.00 to $206.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Co lifted their price objective on shares of Rockwell Automation from $190.00 to $200.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $190.00.
Shares of Rockwell Automation (NYSE ROK) opened at $185.47 on Friday. Rockwell Automation has a 52-week low of $148.31 and a 52-week high of $210.72. The company has a market cap of $23,700.00, a PE ratio of 28.10, a price-to-earnings-growth ratio of 2.09 and a beta of 1.17. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.73 and a current ratio of 1.98.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.22. Rockwell Automation had a net margin of 5.85% and a return on equity of 39.45%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the previous year, the firm earned $1.75 EPS. Rockwell Automation’s revenue was up 6.5% on a year-over-year basis. sell-side analysts anticipate that Rockwell Automation will post 7.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Tuesday, February 20th will be given a dividend of $0.835 per share. 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 50.61%.
Rockwell Automation declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 24th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Rockwell Automation news, insider Theodore D. Crandall sold 10,000 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $202.94, for a total transaction of $2,029,400.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John P. Mcdermott sold 1,950 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $187.08, for a total transaction of $364,806.00. The disclosure for this sale can be found here. Insiders have sold a total of 120,347 shares of company stock worth $23,031,614 over the last 90 days. 1.65% of the stock is owned by insiders.
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Rockwell Automation 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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