Neuberger Berman Group LLC lifted its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 2.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 550,396 shares of the industrial products company’s stock after purchasing an additional 15,635 shares during the quarter. Neuberger Berman Group LLC owned 0.43% of Rockwell Automation worth $98,086,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in ROK. BlackRock Inc. increased its stake in Rockwell Automation by 7.5% in the second quarter. BlackRock Inc. now owns 9,698,308 shares of the industrial products company’s stock valued at $1,570,735,000 after acquiring an additional 679,645 shares during the last quarter. Vanguard Group Inc. increased its stake in Rockwell Automation by 3.2% in the second quarter. Vanguard Group Inc. now owns 8,769,308 shares of the industrial products company’s stock valued at $1,420,278,000 after acquiring an additional 268,101 shares during the last quarter. Lazard Asset Management LLC increased its stake in Rockwell Automation by 0.5% in the second quarter. Lazard Asset Management LLC now owns 2,308,357 shares of the industrial products company’s stock valued at $373,861,000 after acquiring an additional 11,384 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Rockwell Automation by 47.2% in the third quarter. Ameriprise Financial Inc. now owns 1,558,748 shares of the industrial products company’s stock valued at $277,788,000 after acquiring an additional 499,745 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Rockwell Automation by 12.8% in the third quarter. Wells Fargo & Company MN now owns 1,509,470 shares of the industrial products company’s stock valued at $269,003,000 after acquiring an additional 171,598 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors.
A number of brokerages recently issued reports on ROK. Morgan Stanley reissued an “equal weight” rating and issued a $173.00 price objective (up from $168.00) on shares of Rockwell Automation in a research note on Monday, October 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $198.00 target price on shares of Rockwell Automation in a research note on Monday, December 11th. Citigroup boosted their target price on shares of Rockwell Automation from $187.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 10th. Oppenheimer reaffirmed a “hold” rating on shares of Rockwell Automation in a research note on Friday, August 18th. Finally, Cowen reaffirmed a “hold” rating and set a $140.00 target price on shares of Rockwell Automation in a research note on Sunday, September 17th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $167.87.
Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.03). The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.67 billion. Rockwell Automation had a return on equity of 38.67% and a net margin of 13.08%. Rockwell Automation’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.52 EPS. sell-side analysts expect that Rockwell Automation, Inc. will post 7.39 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Monday, November 13th were issued a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Friday, November 10th. This is a positive change from Rockwell Automation’s previous quarterly dividend of $0.76. Rockwell Automation’s payout ratio is 52.68%.
In other Rockwell Automation news, Director Lawrence D. Kingsley purchased 600 shares of the business’s stock in a transaction dated Friday, September 22nd. The shares were bought at an average price of $103.20 per share, for a total transaction of $61,920.00. Following the completion of the acquisition, the director now owns 5,421 shares in the company, valued at $559,447.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Patrick P. Goris sold 145 shares of Rockwell Automation stock in a transaction on Friday, December 8th. The stock was sold at an average price of $192.36, for a total transaction of $27,892.20. The disclosure for this sale can be found here. In the last quarter, insiders have bought 1,340 shares of company stock worth $137,336 and have sold 10,770 shares worth $2,054,871. 1.65% of the stock is currently owned by insiders.
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Rockwell Automation Profile
Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.
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