Graypoint LLC Acquires 108 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Graypoint LLC grew its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 14.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 840 shares of the industrial products company’s stock after acquiring an additional 108 shares during the quarter. Graypoint LLC’s holdings in Rockwell Automation were worth $225,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Duality Advisers LP purchased a new position in Rockwell Automation in the 1st quarter worth approximately $588,000. Envestnet Portfolio Solutions Inc. raised its position in Rockwell Automation by 70.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 5,251 shares of the industrial products company’s stock valued at $1,530,000 after purchasing an additional 2,163 shares in the last quarter. Quantbot Technologies LP lifted its stake in Rockwell Automation by 8.7% during the first quarter. Quantbot Technologies LP now owns 4,506 shares of the industrial products company’s stock worth $1,313,000 after purchasing an additional 360 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Rockwell Automation by 268.8% in the 1st quarter. Empowered Funds LLC now owns 5,027 shares of the industrial products company’s stock worth $1,465,000 after purchasing an additional 3,664 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Rockwell Automation by 186.9% during the 1st quarter. SG Americas Securities LLC now owns 14,731 shares of the industrial products company’s stock valued at $4,292,000 after purchasing an additional 9,596 shares during the last quarter. Institutional investors own 75.75% of the company’s stock.

Insider Buying and Selling

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $266.86, for a total transaction of $154,511.94. Following the completion of the transaction, the senior vice president now owns 4,576 shares of the company’s stock, valued at approximately $1,221,151.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.68% of the stock is owned by company insiders.

Rockwell Automation Stock Performance

NYSE:ROK opened at $272.14 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76. The stock has a market cap of $30.88 billion, a P/E ratio of 30.93, a price-to-earnings-growth ratio of 5.12 and a beta of 1.36. The firm’s fifty day simple moving average is $266.92 and its 200 day simple moving average is $266.69.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the firm earned $3.64 earnings per share. Rockwell Automation’s revenue was down 20.6% on a year-over-year basis. As a group, research analysts predict that Rockwell Automation, Inc. will post 9.65 EPS for the current year.

Rockwell Automation declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Rockwell Automation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a $1.31 dividend. The ex-dividend date is Monday, November 18th. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.93%. Rockwell Automation’s dividend payout ratio is currently 56.82%.

Analysts Set New Price Targets

Several brokerages have issued reports on ROK. Robert W. Baird upped their target price on Rockwell Automation from $280.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday. Wells Fargo & Company increased their target price on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Barclays boosted their price target on shares of Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a research note on Friday. Mizuho raised their price objective on Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Bank of America boosted their target price on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $284.21.

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.