Oppenheimer & Co. Inc. Buys 252 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Oppenheimer & Co. Inc. raised its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,615 shares of the industrial products company’s stock after acquiring an additional 252 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Rockwell Automation were worth $15,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ROK. CreativeOne Wealth LLC boosted its stake in shares of Rockwell Automation by 3.0% during the 1st quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock worth $372,000 after purchasing an additional 37 shares during the period. Mather Group LLC. grew its position in Rockwell Automation by 5.9% during the second quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock valued at $198,000 after buying an additional 38 shares during the period. Pure Financial Advisors LLC grew its position in shares of Rockwell Automation by 2.7% in the second quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock valued at $444,000 after purchasing an additional 42 shares during the period. Pitcairn Co. grew its position in shares of Rockwell Automation by 4.2% in the first quarter. Pitcairn Co. now owns 1,096 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 44 shares during the period. Finally, Hancock Whitney Corp grew its position in shares of Rockwell Automation by 2.5% in the first quarter. Hancock Whitney Corp now owns 1,805 shares of the industrial products company’s stock valued at $526,000 after purchasing an additional 44 shares during the period. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Up 1.9 %

Shares of NYSE ROK traded up $5.15 during mid-day trading on Wednesday, reaching $283.03. 107,959 shares of the company’s stock were exchanged, compared to its average volume of 876,311. The business has a fifty day simple moving average of $267.36 and a 200 day simple moving average of $266.55. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76. The firm has a market capitalization of $32.12 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 2.85 and a beta of 1.36. The company has a current ratio of 1.84, a quick ratio of 1.17 and a debt-to-equity ratio of 0.70.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the previous year, the firm earned $3.64 EPS. The company’s quarterly revenue was down 20.6% compared to the same quarter last year. As a group, equities analysts expect that Rockwell Automation, Inc. will post 9.56 EPS for the current fiscal year.

Rockwell Automation declared that its board has approved a stock repurchase plan on Thursday, September 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Rockwell Automation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.31 dividend. The ex-dividend date is Monday, November 18th. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a dividend yield of 1.85%. Rockwell Automation’s dividend payout ratio is 60.39%.

Insider Activity at Rockwell Automation

In related news, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction 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 sale, the senior vice president now owns 4,576 shares of the company’s stock, valued at approximately $1,221,151.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on ROK. Mizuho lifted their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. BNP Paribas initiated coverage on shares of Rockwell Automation in a research note on Wednesday. They issued an “outperform” rating and a $345.00 price target on the stock. UBS Group initiated coverage on shares of Rockwell Automation in a research note on Wednesday. They issued a “neutral” rating and a $313.00 price target on the stock. Wells Fargo & Company lifted their price objective on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. dropped 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. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $285.13.

Rockwell Automation Company 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.