Tokio Marine Asset Management Co. Ltd. Purchases 148 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 4.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,213 shares of the industrial products company’s stock after acquiring an additional 148 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Rockwell Automation were worth $863,000 as of its most recent SEC filing.

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

Rockwell Automation Stock Performance

ROK opened at $286.15 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 1.17. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76. The firm has a fifty day moving average price of $268.55 and a 200 day moving average price of $266.83. The stock has a market cap of $32.31 billion, a P/E ratio of 34.56, a P/E/G ratio of 2.98 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The business’s revenue was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.64 earnings per share. Equities research analysts anticipate that Rockwell Automation, Inc. will post 9.46 earnings per share for the current year.

Rockwell Automation announced that its Board of Directors has initiated a share repurchase plan on Thursday, September 5th that permits the company to repurchase $1.00 billion in outstanding 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 an indication that the company’s leadership believes its shares are undervalued.

Rockwell Automation Increases Dividend

The company 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 represents a $5.24 annualized dividend and a yield of 1.83%. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date is Monday, November 18th. Rockwell Automation’s payout ratio is presently 60.39%.

Insiders Place Their Bets

In other news, SVP Veena M. Lakkundi sold 579 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $266.86, for a total value of $154,511.94. Following the sale, the senior vice president now directly owns 4,576 shares of the company’s stock, valued at approximately $1,221,151.36. The trade was a 11.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ROK. Mizuho raised their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Oppenheimer raised their price objective on Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Bank of America upped their target price on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. BNP Paribas started coverage on shares of Rockwell Automation in a report on Wednesday. They set an “outperform” rating and a $345.00 price objective on the stock. Finally, Morgan Stanley boosted their target price on shares of Rockwell Automation from $320.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday. Three 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.com, the company has an average rating of “Hold” and a consensus price target of $286.13.

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.