Acadian Asset Management LLC decreased its holdings in Rockwell Automation (NYSE:ROK) by 94.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 870 shares of the industrial products company’s stock after selling 14,723 shares during the quarter. Acadian Asset Management LLC’s holdings in Rockwell Automation were worth $171,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. GSA Capital Partners LLP purchased a new position in Rockwell Automation during the 2nd quarter worth approximately $486,000. FMR LLC grew its position in Rockwell Automation by 3.8% during the 2nd quarter. FMR LLC now owns 546,829 shares of the industrial products company’s stock worth $88,565,000 after purchasing an additional 20,033 shares in the last quarter. Ark Investment Management LLC grew its position in Rockwell Automation by 48.2% during the 2nd quarter. Ark Investment Management LLC now owns 3,409 shares of the industrial products company’s stock worth $552,000 after purchasing an additional 1,109 shares in the last quarter. Numeric Investors LLC purchased a new position in Rockwell Automation during the 2nd quarter worth approximately $389,000. Finally, QS Investors LLC grew its position in Rockwell Automation by 0.4% during the 2nd quarter. QS Investors LLC now owns 2,907 shares of the industrial products company’s stock worth $471,000 after purchasing an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 72.75% of the company’s stock.
ROK has been the topic of several research analyst reports. Wells Fargo & Co lifted their price objective on shares of Rockwell Automation from $190.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. Wolfe Research upgraded shares of Rockwell Automation from a “market perform” rating to an “outperform” rating in a research report on Monday, November 20th. Oppenheimer reissued a “hold” rating on shares of Rockwell Automation in a research note on Thursday, November 9th. Daiwa Capital Markets initiated coverage on shares of Rockwell Automation in a research note on Wednesday, December 20th. They set a “neutral” rating and a $199.00 target price for the company. Finally, Morgan Stanley lifted their target price on shares of Rockwell Automation from $194.00 to $206.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $183.15.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.22. Rockwell Automation had a net margin of 5.85% and a return on equity of 39.45%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the business earned $1.75 EPS. Rockwell Automation’s quarterly revenue was up 6.5% compared to the same quarter last year. equities research analysts expect that Rockwell Automation will post 7.79 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Tuesday, February 20th will be paid a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 1.77%. Rockwell Automation’s payout ratio is presently 117.19%.
Rockwell Automation declared that its board has authorized a share buyback program on Wednesday, January 24th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, CEO Blake D. Moret sold 5,309 shares of Rockwell Automation stock in a transaction on Monday, December 4th. The shares were sold at an average price of $190.75, for a total value of $1,012,691.75. Following the completion of the sale, the chief executive officer now owns 30,720 shares of the company’s stock, valued at approximately $5,859,840. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Frank C. Kulaszewicz sold 43,100 shares of Rockwell Automation stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $177.68, for a total transaction of $7,658,008.00. Following the completion of the sale, the senior vice president now directly owns 35,338 shares of the company’s stock, valued at approximately $6,278,855.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,966 shares of company stock valued at $21,834,799. 1.28% of the stock is owned by company insiders.
About Rockwell Automation
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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