Quantbot Technologies LP Takes $1.78 Million Position in Rockwell Automation, Inc. (NYSE:ROK)

Quantbot Technologies LP purchased a new stake in Rockwell Automation, Inc. (NYSE:ROK) in the 3rd quarter, HoldingsChannel reports. The fund purchased 6,630 shares of the industrial products company’s stock, valued at approximately $1,780,000.

Several other large investors have also added to or reduced their stakes in the business. D.A. Davidson & CO. grew its stake in Rockwell Automation by 6.1% during the third quarter. D.A. Davidson & CO. now owns 21,962 shares of the industrial products company’s stock worth $5,896,000 after purchasing an additional 1,267 shares during the period. Summit Financial Wealth Advisors LLC acquired a new stake in Rockwell Automation during the third quarter worth approximately $322,000. Elios Financial Group Inc. acquired a new stake in Rockwell Automation during the third quarter worth approximately $353,000. Dai ichi Life Insurance Company Ltd boosted its holdings in Rockwell Automation by 277.5% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 6,802 shares of the industrial products company’s stock worth $1,826,000 after acquiring an additional 5,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Rockwell Automation by 12.6% in the third quarter. The Manufacturers Life Insurance Company now owns 79,152 shares of the industrial products company’s stock worth $21,250,000 after acquiring an additional 8,864 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

Insider Activity at Rockwell Automation

In related news, CEO Blake D. Moret sold 26,700 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $298.63, for a total transaction of $7,973,421.00. Following the completion of the sale, the chief executive officer now directly owns 78,115 shares in the company, valued at $23,327,482.45. This represents a 25.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Veena M. Lakkundi sold 579 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $266.86, for a total value of $154,511.94. Following the completion of the sale, 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 11.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,746 shares of company stock worth $9,152,594 in the last ninety days. 0.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Barclays increased their price target on Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Oppenheimer increased their price target on Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. BNP Paribas assumed coverage on Rockwell Automation in a report on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 price target on the stock. JPMorgan Chase & Co. cut 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, UBS Group initiated coverage on Rockwell Automation in a report on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Rockwell Automation has a consensus rating of “Hold” and a consensus target price of $287.13.

Rockwell Automation Price Performance

NYSE:ROK opened at $295.14 on Friday. The firm has a market capitalization of $33.32 billion, a price-to-earnings ratio of 35.64, a P/E/G ratio of 3.07 and a beta of 1.36. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The stock has a fifty day moving average of $274.63 and a 200 day moving average of $268.05. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the company earned $3.64 earnings per share. The firm’s quarterly revenue was down 20.6% on a year-over-year basis. On average, research analysts expect that Rockwell Automation, Inc. will post 9.44 EPS for the current fiscal 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 buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Rockwell Automation Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date 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 63.29%.

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.