TD Asset Management Inc. decreased its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK – Get Rating) by 0.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,237 shares of the industrial products company’s stock after selling 332 shares during the period. TD Asset Management Inc.’s holdings in Rockwell Automation were worth $12,108,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors lifted its holdings in Rockwell Automation by 35.2% in the fourth quarter. Capital World Investors now owns 4,892,850 shares of the industrial products company’s stock worth $1,706,871,000 after purchasing an additional 1,272,634 shares during the period. Norges Bank acquired a new position in shares of Rockwell Automation in the 4th quarter valued at about $387,237,000. Ceredex Value Advisors LLC acquired a new position in Rockwell Automation in the first quarter worth approximately $120,251,000. Marshall Wace LLP increased its holdings in Rockwell Automation by 1,627.7% in the fourth quarter. Marshall Wace LLP now owns 188,013 shares of the industrial products company’s stock worth $65,589,000 after buying an additional 177,131 shares during the last quarter. Finally, Shellback Capital LP acquired a new position in Rockwell Automation in the fourth quarter worth approximately $53,618,000. Institutional investors own 78.21% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on ROK shares. Oppenheimer reduced their price objective on Rockwell Automation from $360.00 to $290.00 in a research report on Wednesday, May 4th. Citigroup raised their price target on Rockwell Automation from $259.00 to $274.00 and gave the company a “buy” rating in a report on Thursday, July 28th. TheStreet cut Rockwell Automation from a “b-” rating to a “c” rating in a report on Tuesday, May 3rd. UBS Group reduced their target price on Rockwell Automation to $205.00 in a report on Wednesday, May 25th. Finally, Cowen cut their price objective on Rockwell Automation from $275.00 to $185.00 in a report on Wednesday, May 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Rockwell Automation currently has an average rating of “Hold” and a consensus price target of $240.29.
Rockwell Automation Stock Down 0.2 %
Shares of NYSE:ROK opened at $243.42 on Wednesday. The business’s 50 day simple moving average is $222.43 and its two-hundred day simple moving average is $239.50. The firm has a market cap of $28.10 billion, a P/E ratio of 42.48, a PEG ratio of 2.76 and a beta of 1.47. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.76 and a current ratio of 1.06. Rockwell Automation, Inc. has a 52-week low of $190.08 and a 52-week high of $354.99.
Rockwell Automation (NYSE:ROK – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The industrial products company reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.33. Rockwell Automation had a return on equity of 37.06% and a net margin of 9.03%. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the business posted $2.31 earnings per share. Rockwell Automation’s revenue was up 6.5% on a year-over-year basis. As a group, research analysts forecast that Rockwell Automation, Inc. will post 9.39 EPS for the current fiscal year.
Rockwell Automation Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Monday, August 15th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Friday, August 12th. Rockwell Automation’s dividend payout ratio is 78.18%.
Rockwell Automation announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 3rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to purchase up to 4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.
Insider Activity at Rockwell Automation
In other Rockwell Automation news, VP John M. Miller sold 1,200 shares of Rockwell Automation stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $253.10, for a total transaction of $303,720.00. Following the completion of the sale, the vice president now owns 4,508 shares of the company’s stock, valued at $1,140,974.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Rockwell Automation news, SVP Cyril Perducat sold 664 shares of Rockwell Automation stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $217.75, for a total transaction of $144,586.00. Following the sale, the senior vice president now directly owns 1,576 shares of the company’s stock, valued at approximately $343,174. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP John M. Miller sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $253.10, for a total value of $303,720.00. Following the completion of the sale, the vice president now directly owns 4,508 shares in the company, valued at $1,140,974.80. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.
Rockwell Automation Company Profile
Rockwell Automation, Inc provides industrial automation and digital transformation solutions in the United States and internationally. The company operates in three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products, and services.
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