Gamco Investors INC. ET AL lessened its holdings in Rockwell Automation (NYSE:ROK) by 5.0% in the third quarter, Holdings Channel reports. The institutional investor owned 239,820 shares of the industrial products company’s stock after selling 12,680 shares during the period. Gamco Investors INC. ET AL’s holdings in Rockwell Automation were worth $44,971,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Advisory Services Network LLC grew its position in shares of Rockwell Automation by 8.8% during the 2nd quarter. Advisory Services Network LLC now owns 3,502 shares of the industrial products company’s stock worth $645,000 after buying an additional 284 shares during the period. Ibex Wealth Advisors grew its position in Rockwell Automation by 1.5% in the 3rd quarter. Ibex Wealth Advisors now owns 19,835 shares of the industrial products company’s stock valued at $3,729,000 after purchasing an additional 291 shares during the period. New Jersey Better Educational Savings Trust grew its position in Rockwell Automation by 13.6% in the 3rd quarter. New Jersey Better Educational Savings Trust now owns 2,500 shares of the industrial products company’s stock valued at $469,000 after purchasing an additional 300 shares during the period. Syntal Capital Partners LLC grew its position in Rockwell Automation by 16.6% in the 2nd quarter. Syntal Capital Partners LLC now owns 2,125 shares of the industrial products company’s stock valued at $353,000 after purchasing an additional 302 shares during the period. Finally, Kidder Stephen W grew its position in Rockwell Automation by 1.0% in the 3rd quarter. Kidder Stephen W now owns 31,530 shares of the industrial products company’s stock valued at $5,911,000 after purchasing an additional 310 shares during the period. Institutional investors and hedge funds own 74.67% of the company’s stock.
Shares of NYSE:ROK opened at $177.07 on Wednesday. The company has a current ratio of 1.93, a quick ratio of 1.60 and a debt-to-equity ratio of 0.85. Rockwell Automation has a 1-year low of $153.67 and a 1-year high of $209.38. The firm has a market cap of $21.24 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 1.65 and a beta of 1.28.
Rockwell Automation declared that its Board of Directors has authorized a stock repurchase plan on Thursday, September 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 4.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Monday, November 12th will be paid a dividend of $0.97 per share. The ex-dividend date of this dividend is Thursday, November 8th. This is a boost from Rockwell Automation’s previous quarterly dividend of $0.92. This represents a $3.88 annualized dividend and a yield of 2.19%. Rockwell Automation’s dividend payout ratio (DPR) is 54.44%.
In other Rockwell Automation news, VP Susan Schmitt sold 4,500 shares of the firm’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $175.02, for a total transaction of $787,590.00. Following the transaction, the vice president now directly owns 15,967 shares in the company, valued at approximately $2,794,544.34. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.28% of the stock is currently owned by company insiders.
Several research firms recently issued reports on ROK. ValuEngine raised shares of Rockwell Automation from a “hold” rating to a “buy” rating in a research report on Friday, September 21st. Wells Fargo & Co lifted their price target on shares of Rockwell Automation from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, October 2nd. Barclays reissued a “hold” rating and issued a $176.00 price target on shares of Rockwell Automation in a research report on Thursday, July 26th. Morgan Stanley lifted their price target on shares of Rockwell Automation from $187.00 to $192.00 and gave the company an “equal weight” rating in a research report on Friday, July 27th. Finally, Zacks Investment Research downgraded shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. Rockwell Automation currently has a consensus rating of “Hold” and an average target price of $181.54.
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Rockwell Automation Profile
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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