Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Rockwell Automation (NYSE:ROK) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,215 shares of the industrial products company’s stock, valued at approximately $212,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cornerstone Capital Management Holdings LLC. grew its position in shares of Rockwell Automation by 10.2% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 24,160 shares of the industrial products company’s stock worth $4,743,000 after acquiring an additional 2,227 shares in the last quarter. American International Group Inc. grew its position in shares of Rockwell Automation by 7.9% in the 4th quarter. American International Group Inc. now owns 57,987 shares of the industrial products company’s stock worth $11,386,000 after acquiring an additional 4,249 shares in the last quarter. Cushing Asset Management LP acquired a new position in shares of Rockwell Automation in the 4th quarter worth approximately $5,504,000. Norinchukin Bank The grew its position in shares of Rockwell Automation by 7.5% in the 4th quarter. Norinchukin Bank The now owns 10,275 shares of the industrial products company’s stock worth $2,017,000 after acquiring an additional 720 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Rockwell Automation by 4.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,973 shares of the industrial products company’s stock worth $1,566,000 after acquiring an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 73.42% of the company’s stock.
Shares of NYSE ROK opened at $174.05 on Tuesday. The company has a market capitalization of $21.79 billion, a P/E ratio of 25.75, a P/E/G ratio of 1.75 and a beta of 1.28. Rockwell Automation has a 12-month low of $151.78 and a 12-month high of $210.72. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.79 and a current ratio of 2.10.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, April 25th. The industrial products company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.07. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.66 billion. Rockwell Automation had a return on equity of 42.38% and a net margin of 6.34%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $1.55 EPS. research analysts forecast that Rockwell Automation will post 7.88 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 11th. Investors of record on Monday, May 14th will be issued a $0.92 dividend. This is an increase from Rockwell Automation’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, May 11th. This represents a $3.68 annualized dividend and a dividend yield of 2.11%. Rockwell Automation’s dividend payout ratio (DPR) is 49.41%.
Rockwell Automation announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 24th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
ROK has been the subject of several research reports. TheStreet upgraded Rockwell Automation from a “c+” rating to a “b” rating in a research report on Wednesday, April 25th. ValuEngine upgraded Rockwell Automation from a “hold” rating to a “buy” rating in a research report on Saturday, March 10th. Zacks Investment Research upgraded Rockwell Automation from a “hold” rating to a “buy” rating and set a $224.00 target price for the company in a research report on Monday, January 29th. UBS initiated coverage on Rockwell Automation in a research report on Monday, January 22nd. They issued a “buy” rating for the company. Finally, Morgan Stanley lifted their target price on Rockwell Automation from $194.00 to $206.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. Rockwell Automation currently has a consensus rating of “Hold” and a consensus target price of $185.64.
In other Rockwell Automation news, SVP Elik I. Fooks sold 5,000 shares of Rockwell Automation stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $186.50, for a total transaction of $932,500.00. Following the sale, the senior vice president now owns 13,910 shares of the company’s stock, valued at approximately $2,594,215. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John M. Miller sold 4,431 shares of Rockwell Automation stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $187.77, for a total value of $832,008.87. Following the sale, the vice president now directly owns 40,253 shares in the company, valued at approximately $7,558,305.81. The disclosure for this sale can be found here. In the last three months, insiders sold 20,431 shares of company stock worth $3,824,560. Company insiders own 1.28% of the company’s stock.
About Rockwell Automation
Rockwell Automation Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.
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