Sentry Investment Management LLC increased its position in shares of Rockwell Automation (NYSE:ROK) by 10.4% during the 4th quarter, Holdings Channel reports. The firm owned 10,280 shares of the industrial products company’s stock after purchasing an additional 968 shares during the quarter. Sentry Investment Management LLC’s holdings in Rockwell Automation were worth $2,018,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. boosted its holdings in Rockwell Automation by 13.4% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 4,896 shares of the industrial products company’s stock worth $961,000 after purchasing an additional 579 shares during the last quarter. Ffcm LLC boosted its holdings in Rockwell Automation by 24.1% during the fourth quarter. Ffcm LLC now owns 4,641 shares of the industrial products company’s stock worth $911,000 after purchasing an additional 902 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in Rockwell Automation by 10.6% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 91,507 shares of the industrial products company’s stock worth $17,968,000 after purchasing an additional 8,757 shares during the last quarter. Evermay Wealth Management LLC purchased a new position in Rockwell Automation during the fourth quarter worth about $219,000. Finally, Whittier Trust Co. boosted its holdings in Rockwell Automation by 32.1% during the fourth quarter. Whittier Trust Co. now owns 1,612 shares of the industrial products company’s stock worth $317,000 after purchasing an additional 392 shares during the last quarter. Institutional investors and hedge funds own 72.35% of the company’s stock.
In other news, VP Steven W. Etzel sold 514 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $190.75, for a total value of $98,045.50. Following the sale, the vice president now owns 7,737 shares of the company’s stock, valued at $1,475,832.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Keith D. Nosbusch sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $203.00, for a total transaction of $2,131,500.00. Following the completion of the sale, the director now directly owns 430,199 shares in the company, valued at approximately $87,330,397. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,966 shares of company stock worth $21,834,799. Corporate insiders own 1.28% of the company’s stock.
Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, January 24th. The industrial products company reported $1.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.22. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Rockwell Automation had a net margin of 5.85% and a return on equity of 39.45%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.75 earnings per share. equities research analysts anticipate that Rockwell Automation will post 7.79 EPS for the current year.
Rockwell Automation announced that its board has initiated a stock repurchase plan on Wednesday, January 24th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Tuesday, February 20th will be paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Friday, February 16th. Rockwell Automation’s payout ratio is 117.19%.
Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $224.00 price target on the stock in a report on Monday, January 29th. JPMorgan Chase & Co. boosted their price target on shares of Rockwell Automation from $182.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Morgan Stanley boosted their price target on shares of Rockwell Automation from $194.00 to $206.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Wells Fargo & Co boosted their price target on shares of Rockwell Automation from $190.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Finally, Citigroup cut their price target on shares of Rockwell Automation from $214.00 to $209.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. Rockwell Automation currently has an average rating of “Hold” and an average price target of $183.15.
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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