Lindbrook Capital LLC Raises Position in Rockwell Automation, Inc. (NYSE:ROK)

Lindbrook Capital LLC raised its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 9.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 699 shares of the industrial products company’s stock after acquiring an additional 58 shares during the period. Lindbrook Capital LLC’s holdings in Rockwell Automation were worth $188,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. CreativeOne Wealth LLC lifted its position in Rockwell Automation by 3.0% in the first quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock valued at $372,000 after purchasing an additional 37 shares during the last quarter. Mather Group LLC. lifted its position in shares of Rockwell Automation by 5.9% in the 2nd quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock worth $198,000 after purchasing an additional 38 shares during the period. Pure Financial Advisors LLC boosted its position in Rockwell Automation by 2.7% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock valued at $444,000 after acquiring an additional 42 shares in the last quarter. Pitcairn Co. boosted its position in shares of Rockwell Automation by 4.2% during the first quarter. Pitcairn Co. now owns 1,096 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 44 shares in the last quarter. Finally, Hancock Whitney Corp lifted its position in Rockwell Automation by 2.5% during the first quarter. Hancock Whitney Corp now owns 1,805 shares of the industrial products company’s stock valued at $526,000 after buying an additional 44 shares during the period. 75.75% of the stock is owned by institutional investors.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $266.86, for a total value of $154,511.94. Following the transaction, the senior vice president now owns 4,576 shares of the company’s stock, valued at approximately $1,221,151.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.68% of the company’s stock.

Rockwell Automation Price Performance

NYSE ROK opened at $272.14 on Monday. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $312.76. The stock has a 50-day moving average of $266.92 and a 200 day moving average of $266.62. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.68 and a current ratio of 1.84. The company has a market capitalization of $30.88 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 4.74 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The business’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.64 earnings per share. On average, sell-side analysts forecast that Rockwell Automation, Inc. will post 9.56 EPS for the current year.

Rockwell Automation declared that its Board of Directors has authorized a stock buyback program 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 buy up to 3.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Rockwell Automation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a dividend yield of 1.93%. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, November 18th. Rockwell Automation’s dividend payout ratio is presently 60.39%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ROK shares. Wells Fargo & Company upped their target price on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Morgan Stanley assumed coverage on shares of Rockwell Automation in a report on Friday, September 6th. They issued an “overweight” rating and a $320.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Barclays raised their price objective on Rockwell Automation from $245.00 to $255.00 and gave the company an “underweight” rating in a research report on Friday. Finally, TD Cowen dropped their target price on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $284.21.

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.