Elefante Mark B Boosts Position in Rockwell Automation (ROK)

Elefante Mark B raised its stake in shares of Rockwell Automation (NYSE:ROK) by 10.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,680 shares of the industrial products company’s stock after purchasing an additional 350 shares during the period. Rockwell Automation accounts for 2.8% of Elefante Mark B’s portfolio, making the stock its 18th largest position. Elefante Mark B’s holdings in Rockwell Automation were worth $691,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ROK. Puzo Michael J grew its holdings in Rockwell Automation by 6.2% during the 3rd quarter. Puzo Michael J now owns 23,186 shares of the industrial products company’s stock valued at $4,349,000 after purchasing an additional 1,352 shares in the last quarter. Somerville Kurt F grew its holdings in Rockwell Automation by 1.8% during the 3rd quarter. Somerville Kurt F now owns 62,934 shares of the industrial products company’s stock valued at $11,802,000 after purchasing an additional 1,105 shares in the last quarter. Scout Investments Inc. grew its holdings in Rockwell Automation by 296.3% during the 3rd quarter. Scout Investments Inc. now owns 121,490 shares of the industrial products company’s stock valued at $22,782,000 after purchasing an additional 90,837 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in Rockwell Automation by 2.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 350,000 shares of the industrial products company’s stock valued at $65,632,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Supplemental Annuity Collective Trust of NJ grew its holdings in Rockwell Automation by 20.0% during the 3rd quarter. Supplemental Annuity Collective Trust of NJ now owns 6,000 shares of the industrial products company’s stock valued at $1,125,000 after purchasing an additional 1,000 shares in the last quarter. 74.67% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $202.00 price target for the company in a report on Friday, August 3rd. ValuEngine lowered shares of Rockwell Automation from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. Goldman Sachs Group lowered shares of Rockwell Automation from a “neutral” rating to a “sell” rating and set a $156.00 price target for the company. in a report on Monday, July 16th. Barclays reaffirmed a “hold” rating and set a $176.00 price target on shares of Rockwell Automation in a report on Thursday, July 26th. Finally, Morgan Stanley raised their price target on shares of Rockwell Automation from $187.00 to $192.00 and gave the company an “equal weight” rating in a report on Friday, July 27th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $181.54.

ROK stock opened at $177.07 on Wednesday. The stock has a market capitalization of $21.24 billion, a P/E ratio of 26.19, a PEG ratio of 1.65 and a beta of 1.28. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.60 and a current ratio of 1.93. Rockwell Automation has a fifty-two week low of $153.67 and a fifty-two week high of $209.38.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Monday, November 12th will be paid a dividend of $0.97 per share. This is a boost from Rockwell Automation’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $3.88 annualized dividend and a yield of 2.19%. Rockwell Automation’s dividend payout ratio (DPR) is presently 54.44%.

Rockwell Automation declared that its Board of Directors has initiated a stock buyback program on Thursday, September 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In other Rockwell Automation news, VP Susan Schmitt sold 4,500 shares of the firm’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $175.02, for a total transaction of $787,590.00. Following the transaction, the vice president now owns 15,967 shares of the company’s stock, valued at approximately $2,794,544.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.28% of the stock is currently owned by company insiders.

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Rockwell Automation Profile

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.

Further Reading: Book Value Per Share – BVPS

Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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