Cambiar Investors LLC Sells 149 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Cambiar Investors LLC reduced its stake in Rockwell Automation, Inc. (NYSE:ROK) by 8.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,673 shares of the industrial products company’s stock after selling 149 shares during the period. Cambiar Investors LLC’s holdings in Rockwell Automation were worth $449,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC bought a new stake in Rockwell Automation in the 1st quarter valued at about $26,000. Richardson Financial Services Inc. raised its position in shares of Rockwell Automation by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 48 shares during the period. ESL Trust Services LLC bought a new position in shares of Rockwell Automation in the 1st quarter worth $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in Rockwell Automation in the 2nd quarter valued at $36,000. Finally, Cultivar Capital Inc. bought a new stake in Rockwell Automation during the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ROK. Mizuho raised their price objective on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Oppenheimer lifted their price target on Rockwell Automation from $270.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley assumed coverage on Rockwell Automation in a research note on Friday, September 6th. They issued an “overweight” rating and a $320.00 price objective for the company. Robert W. Baird cut their target price on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, TD Cowen lowered their price target on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Rockwell Automation currently has a consensus rating of “Hold” and a consensus target price of $286.47.

Rockwell Automation Stock Performance

Shares of ROK opened at $268.72 on Friday. 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 0.73, a current ratio of 1.04 and a quick ratio of 0.68. The stock’s fifty day moving average price is $266.02 and its two-hundred day moving average price is $266.69. The firm has a market cap of $30.49 billion, a PE ratio of 30.54, a PEG ratio of 4.64 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.08 by $0.63. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The company’s revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.01 earnings per share. On average, equities research analysts forecast that Rockwell Automation, Inc. will post 9.65 EPS for the current year.

Rockwell Automation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a yield of 1.95%. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, November 18th. Rockwell Automation’s payout ratio is currently 56.82%.

Rockwell Automation declared that its Board of Directors has authorized a stock buyback plan on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

About Rockwell Automation

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.