Virtu Financial LLC Grows Stake in Rockwell Automation (ROK)

Virtu Financial LLC increased its position in shares of Rockwell Automation (NYSE:ROK) by 10.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,658 shares of the industrial products company’s stock after acquiring an additional 546 shares during the quarter. Virtu Financial LLC’s holdings in Rockwell Automation were worth $1,061,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ROK. Alecta Pensionsforsakring Omsesidigt boosted its position in Rockwell Automation by 14.7% during the third 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 last quarter. Credit Suisse AG boosted its position in Rockwell Automation by 44.7% during the third quarter. Credit Suisse AG now owns 1,007,538 shares of the industrial products company’s stock worth $188,933,000 after acquiring an additional 311,198 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new stake in Rockwell Automation during the second quarter worth approximately $40,950,000. Bank of America Corp DE boosted its position in Rockwell Automation by 23.2% during the second 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 last quarter. Finally, Victory Capital Management Inc. boosted its position in Rockwell Automation by 10,038.0% during the third quarter. Victory Capital Management Inc. now owns 195,968 shares of the industrial products company’s stock worth $36,748,000 after acquiring an additional 194,035 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Shares of ROK opened at $174.34 on Monday. The firm has a market capitalization of $21.04 billion, a price-to-earnings ratio of 21.50, a P/E/G ratio of 1.66 and a beta of 1.29. Rockwell Automation has a fifty-two week low of $153.67 and a fifty-two week high of $209.38. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76.

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

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

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Monday, November 12th will be issued a $0.97 dividend. 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 (DPR) is 47.84%.

A number of analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $183.00 target price on the stock in a research report on Tuesday, October 23rd. ValuEngine lowered shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Berenberg Bank set a $145.00 target price on shares of Rockwell Automation and gave the stock a “sell” rating in a research report on Monday, November 19th. Stephens assumed coverage on shares of Rockwell Automation in a research report on Monday, November 19th. They set an “overweight” rating and a $200.00 target price on the stock. Finally, Credit Suisse Group raised their target price on shares of Rockwell Automation from $171.00 to $173.00 and gave the stock an “underperform” rating in a research report on Thursday, November 8th. Five analysts have rated the stock with a sell rating, nine have issued 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 price target 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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