Bridgewater Associates LP Purchases Shares of 17,681 Rockwell Automation (ROK)

Bridgewater Associates LP purchased a new stake in Rockwell Automation (NYSE:ROK) during the 3rd quarter, Holdings Channel reports. The fund purchased 17,681 shares of the industrial products company’s stock, valued at approximately $3,316,000.

Other hedge funds also recently modified their holdings of the company. Alecta Pensionsforsakring Omsesidigt grew its holdings in shares of Rockwell Automation by 14.7% in the 3rd quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,728,265 shares of the industrial products company’s stock worth $511,632,000 after acquiring an additional 350,000 shares during the period. Franklin Resources Inc. grew its holdings in shares of Rockwell Automation by 7.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,847,004 shares of the industrial products company’s stock worth $346,362,000 after acquiring an additional 128,265 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Rockwell Automation by 7.4% in the 3rd quarter. Wells Fargo & Company MN now owns 1,466,948 shares of the industrial products company’s stock worth $275,082,000 after acquiring an additional 101,289 shares during the period. Bank of America Corp DE grew its holdings in shares of Rockwell Automation by 23.2% in the 2nd quarter. Bank of America Corp DE now owns 1,224,685 shares of the industrial products company’s stock worth $203,581,000 after acquiring an additional 230,688 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Rockwell Automation by 17.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,106,721 shares of the industrial products company’s stock worth $207,533,000 after acquiring an additional 164,984 shares during the period. Hedge funds and other institutional investors own 77.08% of the company’s stock.

A number of research firms recently weighed in on ROK. Zacks Investment Research cut Rockwell Automation from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Berenberg Bank set a $145.00 price target on Rockwell Automation and gave the stock a “sell” rating in a report on Monday, November 19th. ValuEngine cut Rockwell Automation from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. UBS Group lowered their price target on Rockwell Automation from $210.00 to $205.00 and set a “buy” rating on the stock in a report on Thursday, August 30th. Finally, Wells Fargo & Co upped their price target on Rockwell Automation from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, October 2nd. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $178.87.

ROK stock opened at $174.34 on Monday. Rockwell Automation has a 1 year low of $153.67 and a 1 year high of $209.38. 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 company has a market capitalization of $21.04 billion, a P/E ratio of 21.50, a P/E/G ratio of 1.66 and a beta of 1.28.

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

Rockwell Automation declared that its Board of Directors has authorized a share repurchase program on Thursday, September 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to buy up to 4.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Monday, November 12th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 2.23%. 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. Rockwell Automation’s dividend payout ratio is currently 47.84%.

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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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