Strengthening Families & Communities LLC Buys 274 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Strengthening Families & Communities LLC increased its stake in Rockwell Automation, Inc. (NYSE:ROK) by 9.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,209 shares of the industrial products company’s stock after purchasing an additional 274 shares during the period. Strengthening Families & Communities LLC’s holdings in Rockwell Automation were worth $862,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Quest Partners LLC bought a new stake in shares of Rockwell Automation during the third quarter worth about $537,000. WIM INVESTMENT MANAGEMENT Ltd bought a new stake in shares of Rockwell Automation during the third quarter worth about $6,497,000. Accredited Investors Inc. grew its holdings in shares of Rockwell Automation by 16.7% during the third quarter. Accredited Investors Inc. now owns 853 shares of the industrial products company’s stock worth $229,000 after purchasing an additional 122 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Rockwell Automation by 97.4% during the third quarter. Natixis Advisors LLC now owns 119,961 shares of the industrial products company’s stock worth $32,205,000 after purchasing an additional 59,203 shares during the last quarter. Finally, Coastline Trust Co bought a new stake in shares of Rockwell Automation during the third quarter worth about $134,000. Institutional investors own 75.75% of the company’s stock.

Insider Activity

In other news, SVP Veena M. Lakkundi sold 579 shares of the company’s 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 transaction, the senior vice president now owns 4,576 shares of the company’s stock, valued at $1,221,151.36. This represents a 11.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.68% of the company’s stock.

Rockwell Automation Stock Down 0.1 %

Shares of NYSE:ROK opened at $286.15 on Monday. The company has a market capitalization of $32.31 billion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 2.95 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 1.17. The business has a fifty day moving average price of $269.16 and a two-hundred day moving average price of $266.82. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The business’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.64 EPS. Analysts forecast that Rockwell Automation, Inc. will post 9.54 earnings per share for the current year.

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

Rockwell Automation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Monday, November 18th. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s dividend payout ratio is currently 60.39%.

Wall Street Analyst Weigh In

ROK has been the topic of several research reports. Bank of America boosted their price target on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company lifted their price objective on Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. UBS Group began coverage on Rockwell Automation in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Finally, BNP Paribas assumed coverage on Rockwell Automation in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rockwell Automation currently has a consensus rating of “Hold” and an average price target 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.