Teacher Retirement System of Texas cut its stake in Rockwell Automation (NYSE:ROK) by 35.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 62,302 shares of the industrial products company’s stock after selling 34,783 shares during the quarter. Teacher Retirement System of Texas’ holdings in Rockwell Automation were worth $12,233,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. QS Investors LLC boosted its holdings in Rockwell Automation by 0.4% in the second quarter. QS Investors LLC now owns 2,907 shares of the industrial products company’s stock valued at $471,000 after purchasing an additional 12 shares during the period. United Bank VA boosted its holdings in Rockwell Automation by 0.6% in the second quarter. United Bank VA now owns 12,539 shares of the industrial products company’s stock valued at $2,031,000 after purchasing an additional 72 shares during the period. Pinnacle Associates Ltd. boosted its holdings in Rockwell Automation by 3.4% in the third quarter. Pinnacle Associates Ltd. now owns 7,965 shares of the industrial products company’s stock valued at $1,419,000 after purchasing an additional 263 shares during the period. Dai Ichi Life Insurance Company Ltd boosted its holdings in Rockwell Automation by 0.9% in the third quarter. Dai Ichi Life Insurance Company Ltd now owns 32,307 shares of the industrial products company’s stock valued at $5,757,000 after purchasing an additional 285 shares during the period. Finally, Amalgamated Bank boosted its holdings in Rockwell Automation by 2.0% in the third quarter. Amalgamated Bank now owns 15,472 shares of the industrial products company’s stock valued at $2,757,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 72.35% of the company’s stock.
In other news, CFO Patrick P. Goris sold 145 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $192.36, for a total value of $27,892.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Frank C. Kulaszewicz sold 43,100 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $177.68, for a total value 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 $6,278,855.84. The disclosure for this sale can be found here. Insiders sold a total of 113,966 shares of company stock valued at $21,834,799 over the last three months. Company insiders own 1.28% of the company’s stock.
Rockwell Automation (NYSE:ROK) last posted its earnings results on Wednesday, January 24th. The industrial products company reported $1.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.22. Rockwell Automation had a return on equity of 39.45% and a net margin of 5.85%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the previous year, the business earned $1.75 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. sell-side analysts predict that Rockwell Automation will post 7.79 earnings per share for the current fiscal year.
Rockwell Automation announced that its board has authorized a stock buyback plan on Wednesday, January 24th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Tuesday, February 20th will be issued a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, February 16th. Rockwell Automation’s payout ratio is currently 117.19%.
A number of research analysts recently issued reports on the company. Stifel Nicolaus reiterated a “hold” rating and issued a $198.00 target price on shares of Rockwell Automation in a report on Monday, December 11th. Citigroup lifted their price target on Rockwell Automation from $187.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 10th. JPMorgan Chase & Co. lifted their price target on Rockwell Automation from $182.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Goldman Sachs Group reaffirmed a “neutral” rating and set a $193.00 price target on shares of Rockwell Automation in a report on Friday, December 8th. Finally, downgraded Rockwell Automation from a “hold” rating to a “reduce” rating in a report on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $183.15.
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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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