Arizona State Retirement System raised its stake in Rockwell Automation (NYSE:ROK) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,542 shares of the industrial products company’s stock after purchasing an additional 794 shares during the quarter. Arizona State Retirement System’s holdings in Rockwell Automation were worth $8,942,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Cerebellum GP LLC purchased a new stake in shares of Rockwell Automation in the fourth quarter worth approximately $130,000. Valeo Financial Advisors LLC purchased a new stake in shares of Rockwell Automation in the third quarter worth approximately $131,000. Rockefeller Financial Services Inc. purchased a new stake in shares of Rockwell Automation in the third quarter worth approximately $143,000. Aries Wealth Management purchased a new stake in shares of Rockwell Automation in the fourth quarter worth approximately $209,000. Finally, Gofen & Glossberg LLC IL purchased a new stake in shares of Rockwell Automation in the fourth quarter worth approximately $202,000. 72.06% of the stock is owned by hedge funds and other institutional investors.
In other Rockwell Automation news, CFO Patrick P. Goris sold 145 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $192.36, for a total transaction of $27,892.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Patrick P. Goris sold 4,900 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $200.00, for a total value of $980,000.00. Following the transaction, the chief financial officer now directly owns 11,706 shares of the company’s stock, valued at $2,341,200. The disclosure for this sale can be found here. Over the last three months, insiders have sold 123,772 shares of company stock valued at $23,632,380. 1.28% of the stock is owned by corporate insiders.
Several analysts have recently commented on ROK shares. Wells Fargo & Co increased their price objective on Rockwell Automation from $190.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Wolfe Research raised Rockwell Automation from a “market perform” rating to an “outperform” rating in a research note on Monday, November 20th. Oppenheimer reissued a “hold” rating on shares of Rockwell Automation in a research note on Thursday, November 9th. Daiwa Capital Markets assumed coverage on Rockwell Automation in a research note on Wednesday, December 20th. They issued a “neutral” rating and a $199.00 price objective for the company. Finally, Morgan Stanley upped their target price on Rockwell Automation from $194.00 to $206.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $190.00.
Rockwell Automation (ROK) opened at $181.50 on Wednesday. The stock has a market capitalization of $23,142.96, a P/E ratio of 26.02, a PEG ratio of 2.04 and a beta of 1.21. The company has a quick ratio of 1.73, a current ratio of 1.98 and a debt-to-equity ratio of 0.57. Rockwell Automation has a twelve month low of $148.31 and a twelve month high of $210.72.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.22. Rockwell Automation had a return on equity of 39.45% and a net margin of 5.85%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the company earned $1.75 earnings per share. Rockwell Automation’s revenue was up 6.5% compared to the same quarter last year. analysts anticipate that Rockwell Automation will post 7.79 EPS for the current year.
Rockwell Automation declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 24th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Tuesday, February 20th will be issued a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a yield of 1.84%. The ex-dividend date is Friday, February 16th. Rockwell Automation’s dividend payout ratio (DPR) is 117.19%.
Rockwell Automation Profile
Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.