Meeder Advisory Services Inc. Has $611,000 Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

Meeder Advisory Services Inc. cut its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 14.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,275 shares of the industrial products company’s stock after selling 394 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Rockwell Automation were worth $611,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC boosted its stake in shares of Rockwell Automation by 85.6% in the 1st quarter. Acadian Asset Management LLC now owns 12,190 shares of the industrial products company’s stock valued at $3,547,000 after purchasing an additional 5,623 shares in the last quarter. Osaic Holdings Inc. boosted its position in Rockwell Automation by 8.5% in the first quarter. Osaic Holdings Inc. now owns 49,695 shares of the industrial products company’s stock valued at $14,482,000 after buying an additional 3,876 shares in the last quarter. Covestor Ltd grew its stake in shares of Rockwell Automation by 25.7% during the first quarter. Covestor Ltd now owns 318 shares of the industrial products company’s stock worth $93,000 after buying an additional 65 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Rockwell Automation by 10.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 7,036 shares of the industrial products company’s stock worth $2,050,000 after buying an additional 650 shares in the last quarter. Finally, Lake Street Advisors Group LLC lifted its stake in shares of Rockwell Automation by 18.7% in the 1st quarter. Lake Street Advisors Group LLC now owns 1,329 shares of the industrial products company’s stock valued at $387,000 after acquiring an additional 209 shares during the last quarter. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

Shares of ROK stock opened at $278.08 on Wednesday. The firm has a 50 day moving average of $269.96 and a 200-day moving average of $266.94. The company has a market cap of $31.40 billion, a price-to-earnings ratio of 33.58, a price-to-earnings-growth ratio of 2.95 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. Rockwell Automation, Inc. has a 52 week low of $242.81 and a 52 week high of $312.76.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.07. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The business’s 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. On average, equities analysts forecast that Rockwell Automation, Inc. will post 9.54 earnings per share for the current year.

Rockwell Automation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.31 dividend. The ex-dividend date is Monday, November 18th. This represents a $5.24 annualized dividend and a yield of 1.88%. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s dividend payout ratio is presently 60.39%.

Rockwell Automation announced that its board has approved a stock repurchase program on Thursday, September 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

ROK has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Bank of America boosted their price target on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird raised their price objective on shares of Rockwell Automation from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Mizuho boosted their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, BNP Paribas initiated coverage on shares of Rockwell Automation in a research note on Wednesday, November 13th. They set an “outperform” rating and a $345.00 price target for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Rockwell Automation presently has an average rating of “Hold” and a consensus target price of $286.13.

Insider Activity

In related news, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction on Monday, November 4th. The shares were sold at an average price of $266.86, for a total value of $154,511.94. Following the completion of the sale, the senior vice president now owns 4,576 shares of the company’s stock, valued at approximately $1,221,151.36. This trade represents a 11.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.68% of the company’s stock.

About Rockwell Automation

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.