Atom Investors LP Takes $1.35 Million Position in Rockwell Automation, Inc. (NYSE:ROK)

Atom Investors LP purchased a new position in shares of Rockwell Automation, Inc. (NYSE:ROK) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,028 shares of the industrial products company’s stock, valued at approximately $1,350,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Richardson Financial Services Inc. grew its holdings in shares of Rockwell Automation by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 48 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Rockwell Automation in the 3rd quarter worth $26,000. Darwin Wealth Management LLC bought a new stake in Rockwell Automation in the 3rd quarter worth $34,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Rockwell Automation in the second quarter valued at about $36,000. Finally, Cultivar Capital Inc. purchased a new position in shares of Rockwell Automation in the second quarter valued at about $46,000. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Stock Up 0.7 %

NYSE:ROK opened at $297.18 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 0.72. The firm’s 50-day moving average price is $275.35 and its 200-day moving average price is $268.16. The company has a market capitalization of $33.55 billion, a PE ratio of 35.89, a P/E/G ratio of 3.07 and a beta of 1.36. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76.

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

Rockwell Automation declared that its board has initiated a stock repurchase plan on Thursday, September 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Rockwell Automation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a yield of 1.76%. 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 dividend payout ratio (DPR) is 63.29%.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 4,576 shares in the company, valued at approximately $1,221,151.36. This trade represents a 11.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James P. Keane sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $296.00, for a total transaction of $592,000.00. Following the completion of the transaction, the director now owns 11,518 shares in the company, valued at approximately $3,409,328. This represents a 14.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,746 shares of company stock valued at $9,152,594. 0.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ROK. Wells Fargo & Company raised their target price on Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. dropped their price objective on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a report on Monday, August 12th. BNP Paribas assumed coverage on Rockwell Automation in a report on Wednesday, November 13th. They set an “outperform” rating and a $345.00 target price for the company. Robert W. Baird upped their target price on Rockwell Automation from $290.00 to $305.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley lifted their price target on shares of Rockwell Automation from $320.00 to $335.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.