Rockwell Automation, Inc. (NYSE:ROK) Shares Purchased by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC raised its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 33.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,377 shares of the industrial products company’s stock after acquiring an additional 343 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Rockwell Automation were worth $370,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Pathway Financial Advisers LLC purchased a new position in Rockwell Automation during the first quarter worth approximately $26,000. Richardson Financial Services Inc. increased its stake in shares of 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 acquiring an additional 48 shares during the last quarter. ESL Trust Services LLC purchased a new position in shares of Rockwell Automation during the 1st quarter worth $29,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Rockwell Automation during the 2nd quarter valued at about $36,000. Finally, Cultivar Capital Inc. purchased a new stake in shares of Rockwell Automation in the second quarter valued at about $46,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on ROK shares. Barclays decreased their target price on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. JPMorgan Chase & Co. decreased their price objective on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Bank of America lifted 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. Robert W. Baird lowered their price target on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Mizuho boosted their price objective on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rockwell Automation has an average rating of “Hold” and an average price target of $281.93.

Rockwell Automation Stock Performance

Shares of ROK opened at $264.65 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73. The firm has a market cap of $30.03 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 4.64 and a beta of 1.36. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76. The company’s 50 day simple moving average is $265.95 and its 200-day simple moving average is $266.44.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.63. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.01 earnings per share. As a group, equities analysts predict that Rockwell Automation, Inc. will post 9.65 EPS for the current year.

Rockwell Automation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.31 dividend. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, November 18th. Rockwell Automation’s dividend payout ratio (DPR) is currently 56.82%.

Rockwell Automation announced that its board has approved a share repurchase program on Thursday, September 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.