Meitav Dash Investments Ltd. Makes New $8.25 Million Investment in Rockwell Automation, Inc. (NYSE:ROK)

Meitav Dash Investments Ltd. acquired a new position in Rockwell Automation, Inc. (NYSE:ROKGet Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 29,694 shares of the industrial products company’s stock, valued at approximately $8,253,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Benjamin F. Edwards & Company Inc. lifted its position in shares of Rockwell Automation by 0.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 4,285 shares of the industrial products company’s stock valued at $1,495,000 after buying an additional 37 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Rockwell Automation by 4.9% during the 4th quarter. International Assets Investment Management LLC now owns 814 shares of the industrial products company’s stock valued at $284,000 after buying an additional 38 shares during the last quarter. Greenleaf Trust raised its stake in shares of Rockwell Automation by 1.6% during the 1st quarter. Greenleaf Trust now owns 2,414 shares of the industrial products company’s stock valued at $676,000 after purchasing an additional 39 shares during the period. Merriman Wealth Management LLC raised its stake in shares of Rockwell Automation by 5.1% during the 1st quarter. Merriman Wealth Management LLC now owns 843 shares of the industrial products company’s stock valued at $236,000 after purchasing an additional 41 shares during the period. Finally, CAPROCK Group Inc. raised its stake in shares of Rockwell Automation by 3.2% during the 1st quarter. CAPROCK Group Inc. now owns 1,567 shares of the industrial products company’s stock valued at $439,000 after purchasing an additional 49 shares during the period. Hedge funds and other institutional investors own 78.21% of the company’s stock.

Insider Activity at Rockwell Automation

In related news, SVP Cyril Perducat sold 664 shares of the stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $217.75, for a total transaction of $144,586.00. Following the completion of the sale, the senior vice president now directly owns 1,576 shares in the company, valued at approximately $343,174. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Rockwell Automation news, VP John M. Miller sold 1,200 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $253.10, for a total value of $303,720.00. Following the completion of the sale, the vice president now owns 4,508 shares in the company, valued at approximately $1,140,974.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Cyril Perducat sold 664 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $217.75, for a total value of $144,586.00. Following the completion of the sale, the senior vice president now owns 1,576 shares of the company’s stock, valued at approximately $343,174. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

Rockwell Automation Price Performance

ROK opened at $252.24 on Friday. The stock has a 50-day moving average price of $212.86 and a 200-day moving average price of $243.65. Rockwell Automation, Inc. has a 12-month low of $190.08 and a 12-month high of $354.99. The company has a current ratio of 1.06, a quick ratio of 0.76 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $29.12 billion, a P/E ratio of 44.02, a PEG ratio of 2.69 and a beta of 1.47.

Rockwell Automation (NYSE:ROKGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.33. Rockwell Automation had a return on equity of 37.06% and a net margin of 9.03%. The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the business earned $2.31 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts predict that Rockwell Automation, Inc. will post 9.4 earnings per share for the current fiscal year.

Rockwell Automation announced that its board has authorized a stock repurchase program on Tuesday, May 3rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to reacquire up to 4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Rockwell Automation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Monday, August 15th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 1.78%. The ex-dividend date is Friday, August 12th. Rockwell Automation’s dividend payout ratio is presently 78.18%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Mizuho decreased their price objective on Rockwell Automation from $215.00 to $200.00 and set a “neutral” rating on the stock in a research note on Monday, July 18th. Barclays decreased their price objective on Rockwell Automation from $200.00 to $190.00 in a research note on Friday, July 8th. TheStreet lowered Rockwell Automation from a “b-” rating to a “c” rating in a research note on Tuesday, May 3rd. StockNews.com upgraded Rockwell Automation from a “sell” rating to a “hold” rating in a research note on Saturday, July 23rd. Finally, Morgan Stanley decreased their target price on Rockwell Automation from $277.00 to $260.00 and set an “overweight” rating on the stock in a research note on Monday, June 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $251.35.

About Rockwell Automation

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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.

See Also

Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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