Rockwell Automation, Inc. (NYSE:ROK) Shares Bought by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC increased its position in Rockwell Automation, Inc. (NYSE:ROK) by 3.3% during the third quarter, HoldingsChannel.com reports. The fund owned 182,140 shares of the industrial products company’s stock after acquiring an additional 5,865 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Rockwell Automation were worth $48,897,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Pathway Financial Advisers LLC purchased a new stake in shares of Rockwell Automation in the first quarter valued at about $26,000. Richardson Financial Services Inc. raised its position in shares of Rockwell Automation by 100.0% during the 3rd 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. ESL Trust Services LLC acquired a new stake in Rockwell Automation during the 1st quarter valued at $29,000. Strategic Investment Solutions Inc. IL purchased a new position in Rockwell Automation during the second quarter worth $36,000. Finally, Cultivar Capital Inc. acquired a new position in shares of Rockwell Automation in the second quarter worth $46,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ROK has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. cut their price objective on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Mizuho lifted their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley began coverage on Rockwell Automation in a report on Friday, September 6th. They set an “overweight” rating and a $320.00 price objective on the stock. Finally, Oppenheimer upped their target price on Rockwell Automation from $270.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $286.47.

Rockwell Automation Trading Up 0.0 %

NYSE ROK opened at $266.72 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $312.76. The company’s 50 day moving average price is $266.06 and its 200 day moving average price is $266.81. The firm has a market capitalization of $30.26 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 4.64 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.63. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.01 EPS. On average, sell-side analysts predict that Rockwell Automation, Inc. will post 9.65 EPS for the current year.

Rockwell Automation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.96%. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s payout ratio is currently 56.82%.

Rockwell Automation announced that its board has initiated a share repurchase plan on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Rockwell Automation 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.