Tokio Marine Asset Management Co. Ltd. Purchases 148 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Tokio Marine Asset Management Co. Ltd. raised its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,213 shares of the industrial products company’s stock after buying an additional 148 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Rockwell Automation were worth $863,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Metis Global Partners LLC boosted its stake in Rockwell Automation by 8.1% during the third quarter. Metis Global Partners LLC now owns 9,766 shares of the industrial products company’s stock worth $2,622,000 after acquiring an additional 734 shares in the last quarter. Curi RMB Capital LLC boosted its position in shares of Rockwell Automation by 3.7% in the 3rd quarter. Curi RMB Capital LLC now owns 3,289 shares of the industrial products company’s stock worth $883,000 after purchasing an additional 116 shares in the last quarter. Huntington National Bank increased its position in Rockwell Automation by 2.2% during the 3rd quarter. Huntington National Bank now owns 214,999 shares of the industrial products company’s stock valued at $57,719,000 after buying an additional 4,563 shares in the last quarter. Summit Asset Management LLC raised its stake in Rockwell Automation by 44.9% during the third quarter. Summit Asset Management LLC now owns 3,874 shares of the industrial products company’s stock valued at $1,040,000 after buying an additional 1,200 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd boosted its holdings in Rockwell Automation by 49.0% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 17,657 shares of the industrial products company’s stock worth $4,740,000 after acquiring an additional 5,807 shares in the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ROK has been the topic of several analyst reports. UBS Group initiated coverage on shares of Rockwell Automation in a research note on Wednesday. They issued a “neutral” rating and a $313.00 target price on the stock. Mizuho raised their price target on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. decreased their price objective on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Robert W. Baird boosted their target price on shares of Rockwell Automation from $280.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Barclays upped their price objective on Rockwell Automation from $245.00 to $255.00 and gave the company an “underweight” rating in a research 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $286.13.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $266.86, for a total transaction of $154,511.94. Following the completion of the transaction, the senior vice president now owns 4,576 shares in the company, valued at $1,221,151.36. The trade was a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.68% of the stock is owned by insiders.

Rockwell Automation Stock Down 0.1 %

Shares of ROK opened at $286.15 on Friday. The business’s 50 day simple moving average is $268.55 and its 200-day simple moving average is $266.83. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 1.17. The stock has a market capitalization of $32.31 billion, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 2.98 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data 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. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the company posted $3.64 EPS. As a group, equities analysts expect that Rockwell Automation, Inc. will post 9.46 earnings per share for the current fiscal year.

Rockwell Automation Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a dividend of $1.31 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.83%. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s payout ratio is currently 60.39%.

Rockwell Automation announced that its board has authorized 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 purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

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.