Candriam Luxembourg S.C.A. increased its holdings in shares of Rockwell Automation (NYSE:ROK) by 39.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,431 shares of the industrial products company’s stock after acquiring an additional 35,924 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Rockwell Automation were worth $22,199,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cerebellum GP LLC acquired a new position in Rockwell Automation during the fourth quarter worth about $130,000. Rockefeller Capital Management L.P. acquired a new position in Rockwell Automation during the first quarter worth about $139,000. Signaturefd LLC acquired a new position in Rockwell Automation during the first quarter worth about $141,000. Aries Wealth Management acquired a new position in Rockwell Automation during the fourth quarter worth about $209,000. Finally, Cpwm LLC acquired a new position in Rockwell Automation during the fourth quarter worth about $204,000. Hedge funds and other institutional investors own 75.16% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $202.00 price target on the stock in a research report on Thursday. ValuEngine upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating in a research report on Monday, May 14th. Morgan Stanley lowered their price target on shares of Rockwell Automation from $206.00 to $187.00 and set an “equal weight” rating on the stock in a research report on Monday, April 30th. TheStreet raised shares of Rockwell Automation from a “c+” rating to a “b” rating in a research note on Wednesday, April 25th. Finally, UBS reduced their target price on shares of Rockwell Automation from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, April 26th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $186.21.
In other news, insider John P. Mcdermott sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $187.15, for a total value of $1,310,050.00. Following the sale, the insider now directly owns 45,303 shares of the company’s stock, valued at approximately $8,478,456.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John P. Mcdermott sold 2,050 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $187.90, for a total transaction of $385,195.00. Following the completion of the sale, the insider now directly owns 40,353 shares in the company, valued at $7,582,328.70. The disclosure for this sale can be found here. Insiders sold a total of 14,050 shares of company stock worth $2,627,745 over the last three months. Insiders own 1.65% of the company’s stock.
Shares of Rockwell Automation opened at $182.34 on Monday, Marketbeat.com reports. The company has a current ratio of 2.10, a quick ratio of 1.79 and a debt-to-equity ratio of 0.63. Rockwell Automation has a 12 month low of $154.70 and a 12 month high of $210.72. The stock has a market cap of $22.90 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 1.84 and a beta of 1.28.
Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, April 25th. The industrial products company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.07. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.66 billion. Rockwell Automation had a net margin of 6.34% and a return on equity of 42.38%. Rockwell Automation’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.55 earnings per share. research analysts anticipate that Rockwell Automation will post 7.88 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 11th. Stockholders of record on Monday, May 14th will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.02%. This is an increase from Rockwell Automation’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, May 11th. Rockwell Automation’s payout ratio is 54.44%.
Rockwell Automation announced that its board has initiated a share repurchase plan on Wednesday, January 24th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
About Rockwell Automation
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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