Stephens Investment Management Group LLC lifted its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK – Free Report) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,140 shares of the industrial products company’s stock after buying an additional 5,865 shares during the quarter. Stephens Investment Management Group LLC owned approximately 0.16% of Rockwell Automation worth $48,897,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Rockwell Automation by 3.2% during the first quarter. Vanguard Group Inc. now owns 14,048,986 shares of the industrial products company’s stock worth $4,092,891,000 after acquiring an additional 438,356 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Rockwell Automation by 951.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company’s stock worth $1,611,915,000 after purchasing an additional 5,006,706 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Rockwell Automation by 32.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,510,019 shares of the industrial products company’s stock worth $439,912,000 after purchasing an additional 365,795 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Rockwell Automation by 29,591.7% in the 3rd quarter. International Assets Investment Management LLC now owns 936,178 shares of the industrial products company’s stock valued at $251,326,000 after buying an additional 933,025 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its holdings in Rockwell Automation by 82.4% in the 1st quarter. Champlain Investment Partners LLC now owns 859,717 shares of the industrial products company’s stock worth $250,461,000 after buying an additional 388,400 shares during the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.
Rockwell Automation Price Performance
NYSE:ROK opened at $266.72 on Friday. The company has a market capitalization of $30.26 billion, a P/E ratio of 30.31, a P/E/G ratio of 4.64 and a beta of 1.36. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. Rockwell Automation, Inc. has a 52 week low of $242.81 and a 52 week high of $312.76. The stock’s fifty day moving average is $266.06 and its two-hundred day moving average is $266.81.
Rockwell Automation declared that its board has initiated 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 generally a sign that the company’s management believes its stock is undervalued.
Rockwell Automation Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a $1.31 dividend. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 dividend on an annualized basis and a yield of 1.96%. Rockwell Automation’s payout ratio is currently 56.82%.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on ROK shares. Morgan Stanley assumed coverage on Rockwell Automation in a research report on Friday, September 6th. They issued an “overweight” rating and a $320.00 target price on the stock. Bank of America raised their price objective on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Redburn Atlantic began coverage on shares of Rockwell Automation in a report on Monday, July 8th. They set a “neutral” rating and a $256.00 target price for the company. Oppenheimer raised their price target on shares of Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, TD Cowen cut their price objective on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Three 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 MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $286.47.
View Our Latest Report on Rockwell Automation
Rockwell Automation 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.
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