Cerity Partners LLC Has $8.22 Million Stake in Rockwell Automation, Inc. (NYSE:ROK)

Cerity Partners LLC boosted its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,626 shares of the industrial products company’s stock after purchasing an additional 676 shares during the quarter. Cerity Partners LLC’s holdings in Rockwell Automation were worth $8,222,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pathway Financial Advisers LLC bought a new stake in Rockwell Automation during the 1st quarter worth approximately $26,000. Richardson Financial Services Inc. boosted its position in shares of Rockwell Automation by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after buying an additional 48 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Rockwell Automation during the third quarter worth $26,000. Darwin Wealth Management LLC purchased a new stake in Rockwell Automation in the 3rd quarter valued at $34,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Rockwell Automation during the 2nd quarter valued at $36,000. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

NYSE ROK opened at $294.95 on Thursday. The company’s 50 day moving average is $273.42 and its 200-day moving average is $267.67. The firm has a market cap of $33.30 billion, a P/E ratio of 35.62, a price-to-earnings-growth ratio of 3.11 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 has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.07. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The business’s quarterly revenue was down 20.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.64 earnings per share. Sell-side analysts predict that Rockwell Automation, Inc. will post 9.44 earnings per share for the current year.

Rockwell Automation announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to repurchase up to 3.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Rockwell Automation Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Monday, November 18th. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s payout ratio is presently 63.29%.

Insider Activity

In other news, CEO Blake D. Moret sold 26,700 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $298.63, for a total value of $7,973,421.00. Following the transaction, the chief executive officer now owns 78,115 shares of the company’s stock, valued at approximately $23,327,482.45. This represents a 25.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP John M. Miller sold 467 shares of Rockwell Automation stock in a transaction 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 sale, the vice president now directly owns 4,800 shares of the company’s stock, valued at $1,363,536. This represents a 8.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,746 shares of company stock worth $8,560,594 over the last ninety days. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

ROK has been the subject of several recent analyst reports. Morgan Stanley upped their target price on shares of Rockwell Automation from $320.00 to $335.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Robert W. Baird increased their price objective on shares of Rockwell Automation from $290.00 to $305.00 and gave the company an “outperform” rating in a research note on Tuesday. Oppenheimer upped their target price on Rockwell Automation from $288.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. dropped their price target on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Finally, Mizuho upped 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. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $287.13.

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.