Sompo Asset Management Co. Ltd. Has $9.06 Million Stake in Rockwell Automation, Inc. (NYSE:ROK)

Sompo Asset Management Co. Ltd. boosted its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 8.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,753 shares of the industrial products company’s stock after acquiring an additional 2,736 shares during the period. Rockwell Automation accounts for about 1.4% of Sompo Asset Management Co. Ltd.’s portfolio, making the stock its 18th biggest position. Sompo Asset Management Co. Ltd.’s holdings in Rockwell Automation were worth $9,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC acquired a new position in Rockwell Automation in the first quarter valued at about $26,000. Richardson Financial Services Inc. increased its stake in shares of Rockwell Automation by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 48 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Rockwell Automation in the third quarter valued at about $26,000. Darwin Wealth Management LLC bought a new stake in shares of Rockwell Automation during the 3rd quarter valued at approximately $34,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Rockwell Automation during the second quarter worth $36,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP John M. Miller sold 467 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $284.07, for a total value of $132,660.69. Following the transaction, the vice president now owns 4,800 shares in the company, valued at approximately $1,363,536. This represents a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Veena M. Lakkundi sold 579 shares of Rockwell Automation stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $266.86, for a total value of $154,511.94. Following the completion of the sale, the senior vice president now directly owns 4,576 shares of the company’s stock, valued at approximately $1,221,151.36. This trade represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Rockwell Automation Stock Up 4.5 %

Rockwell Automation stock opened at $290.86 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The firm’s fifty day moving average price is $271.38 and its two-hundred day moving average price is $267.17. The firm has a market capitalization of $32.84 billion, a price-to-earnings ratio of 35.13, a price-to-earnings-growth ratio of 2.89 and a beta of 1.36. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. Rockwell Automation’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.64 EPS. On average, equities research analysts predict that Rockwell Automation, Inc. will post 9.46 earnings per share for the current fiscal year.

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

Rockwell Automation Increases Dividend

The company 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. The ex-dividend date is Monday, November 18th. This represents a $5.24 annualized dividend and a yield of 1.80%. Rockwell Automation’s dividend payout ratio (DPR) is 63.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. UBS Group began coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They set a “neutral” rating and a $313.00 target price on the stock. Oppenheimer lifted their price target on shares of Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. decreased their price objective on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Barclays lifted their price objective on Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Finally, Bank of America boosted their target price on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Rockwell Automation has an average rating of “Hold” and an average target price of $286.13.

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.