Vectors Research Management LLC Raises Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Vectors Research Management LLC lifted its stake in Rockwell Automation, Inc. (NYSE:ROK) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,526 shares of the industrial products company’s stock after purchasing an additional 135 shares during the period. Vectors Research Management LLC’s holdings in Rockwell Automation were worth $1,750,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in Rockwell Automation in the first quarter worth $66,000. Russell Investments Group Ltd. raised its stake in shares of Rockwell Automation by 18.8% in the 1st quarter. Russell Investments Group Ltd. now owns 49,947 shares of the industrial products company’s stock valued at $14,550,000 after buying an additional 7,919 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in Rockwell Automation by 15.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,294 shares of the industrial products company’s stock valued at $960,000 after purchasing an additional 429 shares during the last quarter. Kingsview Wealth Management LLC lifted its holdings in Rockwell Automation by 5.5% during the 1st quarter. Kingsview Wealth Management LLC now owns 2,730 shares of the industrial products company’s stock worth $795,000 after buying an additional 142 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its stake in Rockwell Automation by 4.0% in the first quarter. Orion Portfolio Solutions LLC now owns 9,710 shares of the industrial products company’s stock valued at $2,829,000 after acquiring an additional 377 shares during the period. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Trading Down 0.0 %

NYSE ROK opened at $286.43 on Friday. The company has a market capitalization of $32.34 billion, a price-to-earnings ratio of 34.59, a price-to-earnings-growth ratio of 2.98 and a beta of 1.36. The company’s 50-day simple moving average is $267.96 and its two-hundred day simple moving average is $266.69. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $312.76. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.17 and a current ratio of 1.08.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.07. The company had revenue of $2.04 billion for 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 firm’s quarterly revenue was down 20.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.64 EPS. Equities analysts forecast that Rockwell Automation, Inc. will post 9.46 EPS for the current fiscal year.

Rockwell Automation Increases Dividend

The company 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 dividend of $1.31 per share. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. 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%. Rockwell Automation’s dividend payout ratio is presently 60.39%.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Rockwell Automation in a report on Friday, September 6th. They set an “overweight” rating and a $320.00 price target on the stock. Barclays upped their target price on shares of Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Mizuho boosted their price target on Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. UBS Group began coverage on Rockwell Automation in a research note on Wednesday. They issued a “neutral” rating and a $313.00 target price on the stock. Finally, TD Cowen decreased their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Rockwell Automation currently has an average rating of “Hold” and a consensus price target of $285.13.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were 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 owns 4,576 shares in the company, valued at $1,221,151.36. This represents a 11.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.68% of the stock is currently owned by insiders.

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.