CIBC Asset Management Inc raised its position in shares of Rockwell Automation (NYSE:ROK) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,299 shares of the industrial products company’s stock after buying an additional 379 shares during the quarter. CIBC Asset Management Inc’s holdings in Rockwell Automation were worth $2,494,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Advisory Services Network LLC increased its holdings in shares of Rockwell Automation by 8.8% during the second quarter. Advisory Services Network LLC now owns 3,502 shares of the industrial products company’s stock valued at $645,000 after acquiring an additional 284 shares in the last quarter. Ibex Wealth Advisors increased its holdings in shares of Rockwell Automation by 1.5% during the third quarter. Ibex Wealth Advisors now owns 19,835 shares of the industrial products company’s stock valued at $3,729,000 after acquiring an additional 291 shares in the last quarter. New Jersey Better Educational Savings Trust increased its holdings in shares of Rockwell Automation by 13.6% during the third quarter. New Jersey Better Educational Savings Trust now owns 2,500 shares of the industrial products company’s stock valued at $469,000 after acquiring an additional 300 shares in the last quarter. Syntal Capital Partners LLC increased its holdings in shares of Rockwell Automation by 16.6% during the second quarter. Syntal Capital Partners LLC now owns 2,125 shares of the industrial products company’s stock valued at $353,000 after acquiring an additional 302 shares in the last quarter. Finally, Kidder Stephen W increased its holdings in shares of Rockwell Automation by 1.0% during the third quarter. Kidder Stephen W now owns 31,530 shares of the industrial products company’s stock valued at $5,911,000 after acquiring an additional 310 shares in the last quarter. 74.67% of the stock is owned by institutional investors and hedge funds.
In related news, VP Susan Schmitt sold 4,500 shares of Rockwell Automation stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $175.02, for a total value of $787,590.00. Following the completion of the sale, the vice president now directly owns 15,967 shares in the company, valued at approximately $2,794,544.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.65% of the stock is currently owned by company insiders.
Several equities analysts have recently weighed in on ROK shares. ValuEngine upgraded Rockwell Automation from a “hold” rating to a “buy” rating in a report on Friday, September 21st. UBS Group reduced their price target on Rockwell Automation from $210.00 to $205.00 and set a “buy” rating for the company in a report on Thursday, August 30th. Zacks Investment Research upgraded Rockwell Automation from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a report on Wednesday, July 18th. Gordon Haskett started coverage on Rockwell Automation in a report on Friday, October 12th. They set a “buy” rating for the company. Finally, Morgan Stanley raised their price target on Rockwell Automation from $187.00 to $192.00 and gave the company an “equal weight” rating in a report on Friday, July 27th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $179.46.
NYSE ROK opened at $169.27 on Friday. Rockwell Automation has a one year low of $153.67 and a one year high of $209.38. The stock has a market capitalization of $21.81 billion, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. The company has a quick ratio of 1.60, a current ratio of 1.93 and a debt-to-equity ratio of 0.85.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $2.11 EPS for the quarter, topping the consensus estimate of $2.02 by $0.09. Rockwell Automation had a return on equity of 48.24% and a net margin of 5.97%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company earned $1.69 EPS. Rockwell Automation’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, sell-side analysts expect that Rockwell Automation will post 8.99 EPS for the current year.
Rockwell Automation announced that its board has approved a stock repurchase program on Thursday, September 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to purchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Monday, November 12th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 2.29%. This is an increase from Rockwell Automation’s previous quarterly dividend of $0.92. The ex-dividend date is Thursday, November 8th. Rockwell Automation’s dividend payout ratio (DPR) is presently 45.38%.
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Rockwell Automation Company 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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