KG&L Capital Management LLC Buys 570 Shares of Rockwell Automation, Inc. (NYSE:ROK)

KG&L Capital Management LLC grew its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 32.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,341 shares of the industrial products company’s stock after acquiring an additional 570 shares during the quarter. KG&L Capital Management LLC’s holdings in Rockwell Automation were worth $628,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ROK. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Rockwell Automation by 5.5% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,936 shares of the industrial products company’s stock worth $855,000 after buying an additional 153 shares during the last quarter. Choreo LLC lifted its position in shares of Rockwell Automation by 4.2% during the 1st quarter. Choreo LLC now owns 2,045 shares of the industrial products company’s stock worth $596,000 after buying an additional 82 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Rockwell Automation during the 1st quarter worth $148,000. Whittier Trust Co. lifted its position in shares of Rockwell Automation by 4.4% during the 1st quarter. Whittier Trust Co. now owns 1,966 shares of the industrial products company’s stock worth $573,000 after buying an additional 82 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of Rockwell Automation by 14.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 516 shares of the industrial products company’s stock worth $150,000 after buying an additional 64 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Price Performance

Shares of ROK opened at $268.72 on Monday. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68. The company has a market capitalization of $30.49 billion, a price-to-earnings ratio of 30.54, a price-to-earnings-growth ratio of 4.64 and a beta of 1.36. The business has a 50-day moving average of $266.02 and a 200-day moving average of $266.50.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.63. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The firm’s revenue was down 8.4% compared to the same quarter last year. During the same period last year, the company earned $3.01 earnings per share. As a group, equities research analysts anticipate that Rockwell Automation, Inc. will post 9.65 earnings per share for the current year.

Rockwell Automation announced that its Board of Directors has approved a share buyback plan 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 plans are typically a sign that the company’s board believes its stock is undervalued.

Rockwell Automation Increases Dividend

The firm 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 $1.31 dividend. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Monday, November 18th. Rockwell Automation’s payout ratio is presently 56.82%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ROK shares. Oppenheimer upped their price objective on Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company lifted their price target on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Bank of America lifted their price target on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird cut their price target on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Morgan Stanley initiated coverage on Rockwell Automation in a research note on Friday, September 6th. They set an “overweight” rating and a $320.00 price target on the stock. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Rockwell Automation currently has an average rating of “Hold” and an average target price of $281.93.

Rockwell Automation Company Profile

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.