Nuance Investments LLC Buys New Position in Rockwell Automation, Inc. (NYSE:ROK)

Nuance Investments LLC purchased a new position in Rockwell Automation, Inc. (NYSE:ROK) during the 3rd quarter, HoldingsChannel reports. The firm purchased 32,680 shares of the industrial products company’s stock, valued at approximately $8,773,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC acquired a new stake in shares of Rockwell Automation in the first quarter worth $26,000. Richardson Financial Services Inc. grew its position in Rockwell Automation by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 48 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Rockwell Automation during the 3rd quarter worth about $26,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Rockwell Automation during the 2nd quarter worth about $36,000. Finally, Cultivar Capital Inc. acquired a new position in shares of Rockwell Automation during the second quarter valued at about $46,000. 75.75% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $266.86, for a total transaction of $154,511.94. Following the completion of the sale, the senior vice president now directly owns 4,576 shares of the company’s stock, valued at approximately $1,221,151.36. The trade was a 11.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. BNP Paribas began coverage on Rockwell Automation in a research report on Wednesday, November 13th. They set an “outperform” rating and a $345.00 target price on the stock. Mizuho lifted their price target on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. TD Cowen dropped their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. UBS Group began coverage on Rockwell Automation in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $286.13.

Rockwell Automation Price Performance

Shares of ROK stock opened at $278.08 on Wednesday. The stock’s fifty day moving average is $269.96 and its 200-day moving average is $266.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08. Rockwell Automation, Inc. has a 52 week low of $242.81 and a 52 week high of $312.76. The stock has a market capitalization of $31.40 billion, a PE ratio of 33.58, a PEG ratio of 2.95 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the firm earned $3.64 EPS. The company’s revenue was down 20.6% on a year-over-year basis. Equities research analysts expect that Rockwell Automation, Inc. will post 9.54 EPS for the current fiscal year.

Rockwell Automation announced that its board has authorized a share buyback program on Thursday, September 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Rockwell Automation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a $1.31 dividend. This represents a $5.24 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Monday, November 18th. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s payout ratio is 60.39%.

Rockwell Automation Company Profile

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.