Champlain Investment Partners LLC Decreases Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Champlain Investment Partners LLC reduced its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 838,607 shares of the industrial products company’s stock after selling 25,230 shares during the period. Rockwell Automation accounts for approximately 1.4% of Champlain Investment Partners LLC’s portfolio, making the stock its 19th largest position. Champlain Investment Partners LLC owned 0.74% of Rockwell Automation worth $225,132,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Pathway Financial Advisers LLC bought a new stake in shares of Rockwell Automation in the 1st quarter worth approximately $26,000. Richardson Financial Services Inc. boosted its holdings in Rockwell Automation by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 48 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Rockwell Automation during the 3rd quarter valued at $26,000. Darwin Wealth Management LLC bought a new position in Rockwell Automation in the 3rd quarter worth $34,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Rockwell Automation in the 2nd quarter worth about $36,000. 75.75% of the stock is owned by institutional investors.

Insider Transactions at Rockwell Automation

In other news, SVP Veena M. Lakkundi sold 579 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $266.86, for a total transaction 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 $1,221,151.36. This represents a 11.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP John M. Miller sold 467 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $284.07, for a total transaction of $132,660.69. Following the completion of the transaction, the vice president now directly owns 4,800 shares in the company, valued at approximately $1,363,536. The trade was a 8.87 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Rockwell Automation Price Performance

Shares of ROK opened at $290.78 on Friday. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76. The company has a market capitalization of $32.83 billion, a P/E ratio of 35.12, a price-to-earnings-growth ratio of 2.89 and a beta of 1.36. The firm has a 50 day moving average of $271.38 and a 200 day moving average of $267.20. 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 (NYSE:ROK) last posted its earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the company earned $3.64 EPS. The company’s quarterly revenue was down 20.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Rockwell Automation, Inc. will post 9.46 earnings per share for the current fiscal year.

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

Rockwell Automation Increases Dividend

The business 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 1.80%. The ex-dividend date is Monday, November 18th. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s dividend payout ratio (DPR) is presently 63.29%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. BNP Paribas assumed coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They set an “outperform” rating and a $345.00 price target on the stock. Morgan Stanley raised their target price on Rockwell Automation from $320.00 to $335.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. TD Cowen dropped their price target on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company increased their price objective on Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Oppenheimer boosted their target price on shares of Rockwell Automation from $288.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Rockwell Automation presently has an average rating of “Hold” and a consensus price target of $286.13.

Rockwell Automation Company Profile

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.