Mutual of America Capital Management LLC increased its position in Rockwell Automation, Inc. (NYSE:ROK – Get Rating) by 1.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,768 shares of the industrial products company’s stock after purchasing an additional 200 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Rockwell Automation were worth $4,696,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in ROK. Capital World Investors lifted its stake in shares of Rockwell Automation by 35.2% in the 4th quarter. Capital World Investors now owns 4,892,850 shares of the industrial products company’s stock valued at $1,706,871,000 after purchasing an additional 1,272,634 shares during the period. Norges Bank purchased a new position in shares of Rockwell Automation in the 4th quarter valued at approximately $387,237,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in Rockwell Automation by 16.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,349,037 shares of the industrial products company’s stock valued at $470,612,000 after buying an additional 191,618 shares in the last quarter. Marshall Wace LLP increased its position in Rockwell Automation by 1,627.7% during the 4th quarter. Marshall Wace LLP now owns 188,013 shares of the industrial products company’s stock valued at $65,589,000 after buying an additional 177,131 shares in the last quarter. Finally, Shellback Capital LP bought a new position in Rockwell Automation during the 4th quarter valued at approximately $53,618,000. Hedge funds and other institutional investors own 78.21% of the company’s stock.
Insider Activity at Rockwell Automation
In related news, Director Patricia A. Watson bought 1,110 shares of the stock in a transaction that occurred on Thursday, May 5th. The shares were bought at an average cost of $219.58 per share, for a total transaction of $243,733.80. Following the completion of the transaction, the director now owns 4,827 shares of the company’s stock, valued at $1,059,912.66. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Cyril Perducat sold 664 shares of Rockwell Automation stock in a transaction 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 transaction, the senior vice president now directly owns 1,576 shares in the company, valued at $343,174. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patricia A. Watson bought 1,110 shares of the stock in a transaction that occurred on Thursday, May 5th. The shares were bought at an average price of $219.58 per share, for a total transaction of $243,733.80. Following the completion of the transaction, the director now directly owns 4,827 shares of the company’s stock, valued at approximately $1,059,912.66. The disclosure for this purchase can be found here. 0.68% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. Mizuho reduced their price objective on Rockwell Automation from $215.00 to $200.00 and set a “neutral” rating for the company in a research report on Monday, July 18th. Cowen reduced their price objective on Rockwell Automation from $275.00 to $185.00 in a research report on Wednesday, May 4th. Oppenheimer reduced their price objective on Rockwell Automation from $360.00 to $290.00 in a research report on Wednesday, May 4th. UBS Group reduced their price objective on Rockwell Automation to $205.00 in a research report on Wednesday, May 25th. Finally, Barclays reduced their price objective on Rockwell Automation from $200.00 to $190.00 in a research report on Friday, July 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Rockwell Automation presently has an average rating of “Hold” and a consensus price target of $252.35.
Rockwell Automation Stock Performance
ROK stock opened at $221.60 on Monday. The company has a market cap of $25.76 billion, a P/E ratio of 40.29, a price-to-earnings-growth ratio of 2.40 and a beta of 1.39. Rockwell Automation, Inc. has a 1 year low of $190.08 and a 1 year high of $354.99. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.09 and a quick ratio of 0.78. The stock’s fifty day moving average price is $204.36 and its 200-day moving average price is $248.39.
Rockwell Automation (NYSE:ROK – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.61). The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Rockwell Automation had a return on equity of 35.96% and a net margin of 8.81%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the business earned $2.41 earnings per share. On average, equities analysts forecast that Rockwell Automation, Inc. will post 9.15 earnings per share for the current year.
Rockwell Automation declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 3rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Rockwell Automation Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Monday, August 15th will be paid a $1.12 dividend. The ex-dividend date is Friday, August 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.02%. Rockwell Automation’s dividend payout ratio (DPR) is currently 81.45%.
About Rockwell Automation
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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