Rockwell Automation, Inc. (NYSE:ROK) Shares Acquired by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC lifted its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 20.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,227 shares of the industrial products company’s stock after acquiring an additional 1,739 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Rockwell Automation were worth $2,746,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in Rockwell Automation by 7.3% in the third quarter. Wellington Management Group LLP now owns 789 shares of the industrial products company’s stock valued at $212,000 after purchasing an additional 54 shares during the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in Rockwell Automation during the third quarter worth about $996,000. Wahed Invest LLC raised its position in Rockwell Automation by 10.3% during the third quarter. Wahed Invest LLC now owns 2,782 shares of the industrial products company’s stock valued at $747,000 after acquiring an additional 259 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc acquired a new position in Rockwell Automation in the third quarter valued at approximately $307,000. Finally, State Street Corp grew its stake in shares of Rockwell Automation by 0.3% during the 3rd quarter. State Street Corp now owns 4,648,137 shares of the industrial products company’s stock worth $1,247,839,000 after purchasing an additional 11,949 shares during the period. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Insider Buying and Selling at Rockwell Automation

In other news, VP John M. Miller sold 467 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $284.07, for a total value of $132,660.69. Following the completion of the sale, the vice president now owns 4,800 shares of the company’s stock, valued at $1,363,536. This represents a 8.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Veena M. Lakkundi sold 579 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $266.86, for a total transaction of $154,511.94. Following the sale, the senior vice president now owns 4,576 shares of the company’s stock, valued at $1,221,151.36. This represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,070 shares of company stock worth $10,142,408 in the last three months. 0.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. BNP Paribas began coverage on shares of Rockwell Automation in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 target price for the company. JPMorgan Chase & Co. decreased their price objective on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Bank of America raised their target price on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Mizuho upped their price target on Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Morgan Stanley raised their price objective on Rockwell Automation from $320.00 to $335.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $294.75.

Rockwell Automation Price Performance

Rockwell Automation stock opened at $298.68 on Tuesday. The company has a fifty day simple moving average of $278.28 and a 200-day simple moving average of $269.09. The firm has a market capitalization of $33.72 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 3.09 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. Rockwell Automation’s quarterly revenue was down 20.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.64 EPS. On average, equities analysts anticipate that Rockwell Automation, Inc. will post 9.39 EPS for the current fiscal year.

Rockwell Automation announced that its board has approved a share buyback plan on Thursday, September 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Rockwell Automation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.31 per share. The ex-dividend date is Monday, November 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.75%. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s payout ratio is 63.29%.

About Rockwell Automation

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.