Primecap Management Co. CA Cuts Stake in Rockwell Automation (ROK)

Primecap Management Co. CA decreased its position in shares of Rockwell Automation (NYSE:ROK) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 725,465 shares of the industrial products company’s stock after selling 1,910 shares during the quarter. Primecap Management Co. CA owned approximately 0.59% of Rockwell Automation worth $136,039,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ROK. Advisory Services Network LLC lifted its holdings in Rockwell Automation by 8.8% during the 2nd quarter. Advisory Services Network LLC now owns 3,502 shares of the industrial products company’s stock worth $645,000 after purchasing an additional 284 shares in the last quarter. Ibex Wealth Advisors lifted its holdings in Rockwell Automation by 1.5% during the 3rd quarter. Ibex Wealth Advisors now owns 19,835 shares of the industrial products company’s stock worth $3,729,000 after purchasing an additional 291 shares in the last quarter. New Jersey Better Educational Savings Trust lifted its holdings in Rockwell Automation by 13.6% during the 3rd quarter. New Jersey Better Educational Savings Trust now owns 2,500 shares of the industrial products company’s stock worth $469,000 after purchasing an additional 300 shares in the last quarter. Syntal Capital Partners LLC lifted its holdings in Rockwell Automation by 16.6% during the 2nd quarter. Syntal Capital Partners LLC now owns 2,125 shares of the industrial products company’s stock worth $353,000 after purchasing an additional 302 shares in the last quarter. Finally, Kidder Stephen W lifted its holdings in Rockwell Automation by 1.0% during the 3rd quarter. Kidder Stephen W now owns 31,530 shares of the industrial products company’s stock worth $5,911,000 after purchasing an additional 310 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Shares of Rockwell Automation stock opened at $174.34 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.27. The stock has a market cap of $21.04 billion, a PE ratio of 21.47, a PEG ratio of 1.66 and a beta of 1.28. Rockwell Automation has a 12 month low of $153.67 and a 12 month high of $209.38.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $2.11 EPS for the quarter, beating the consensus estimate of $2.02 by $0.09. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. Rockwell Automation had a return on equity of 57.53% and a net margin of 8.03%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.69 EPS. Research analysts forecast that Rockwell Automation will post 9.03 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 12th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Thursday, November 8th. This is a positive change from Rockwell Automation’s previous quarterly dividend of $0.92. This represents a $3.88 annualized dividend and a dividend yield of 2.23%. Rockwell Automation’s dividend payout ratio is 47.84%.

Rockwell Automation declared that its Board of Directors has approved a stock repurchase plan on Thursday, September 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 4.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

ROK has been the topic of a number of recent research reports. Citigroup set a $185.00 price objective on Rockwell Automation and gave the stock a “hold” rating in a report on Thursday, November 8th. Wells Fargo & Co lowered their price target on Rockwell Automation from $210.00 to $205.00 and set an “outperform” rating on the stock in a report on Thursday, November 8th. Zacks Investment Research raised Rockwell Automation from a “hold” rating to a “buy” rating and set a $183.00 price target on the stock in a report on Tuesday, October 23rd. Cowen cut Rockwell Automation from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $175.00 to $150.00 in a report on Monday, October 15th. Finally, Credit Suisse Group raised their price target on Rockwell Automation from $171.00 to $173.00 and gave the company an “underperform” rating in a report on Thursday, November 8th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. Rockwell Automation currently has a consensus rating of “Hold” and an average target price of $178.87.

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Rockwell Automation Company Profile

Rockwell Automation Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.

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Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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