Rockwell Automation, Inc. (NYSE:ROK) Position Raised by Accredited Investors Inc.

Accredited Investors Inc. lifted its stake in Rockwell Automation, Inc. (NYSE:ROKFree Report) by 162,058.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,185,379 shares of the industrial products company’s stock after purchasing an additional 1,184,648 shares during the quarter. Rockwell Automation comprises 7.9% of Accredited Investors Inc.’s portfolio, making the stock its 4th biggest holding. Accredited Investors Inc. owned about 1.04% of Rockwell Automation worth $318,227,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new stake in Rockwell Automation in the first quarter worth about $26,000. Richardson Financial Services Inc. raised its holdings in shares of Rockwell Automation by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after buying an additional 48 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Rockwell Automation during the third quarter valued at $26,000. ESL Trust Services LLC acquired a new stake in shares of Rockwell Automation during the first quarter worth about $29,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Rockwell Automation in the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Morgan Stanley started coverage on Rockwell Automation in a research report on Friday, September 6th. They set an “overweight” rating and a $320.00 price target on the stock. Bank of America increased their price target on shares of Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. TD Cowen lowered their target price on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Finally, Wells Fargo & Company boosted their price objective on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rockwell Automation presently has a consensus rating of “Hold” and a consensus target price of $284.21.

Check Out Our Latest Stock Analysis on Rockwell Automation

Insider Activity at Rockwell Automation

In other news, SVP Veena M. Lakkundi sold 579 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $266.86, for a total transaction of $154,511.94. Following the transaction, the senior vice president now directly owns 4,576 shares of the company’s stock, valued at approximately $1,221,151.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.68% of the stock is owned by insiders.

Rockwell Automation Stock Performance

Rockwell Automation stock traded down $0.18 during mid-day trading on Tuesday, reaching $277.64. The company’s stock had a trading volume of 150,412 shares, compared to its average volume of 875,964. The firm has a market cap of $31.50 billion, a price-to-earnings ratio of 33.55, a PEG ratio of 4.74 and a beta of 1.36. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76. The business has a 50 day moving average price of $267.03 and a 200-day moving average price of $266.57. The company has a current ratio of 1.84, a quick ratio of 0.68 and a debt-to-equity ratio of 0.70.

Rockwell Automation (NYSE:ROKGet Free Report) last issued its earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. Rockwell Automation’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.64 earnings per share. Sell-side analysts predict that Rockwell Automation, Inc. will post 9.56 EPS for the current fiscal year.

Rockwell Automation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, November 18th. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s payout ratio is 60.39%.

Rockwell Automation announced that its board has approved a share repurchase program on Thursday, September 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

About Rockwell Automation

(Free Report)

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.

Further Reading

Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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