Folger Hill Asset Management LP purchased a new position in Rockwell Automation (NYSE:ROK) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,300 shares of the industrial products company’s stock, valued at approximately $1,630,000.
Other institutional investors have also bought and sold shares of the company. Cerebellum GP LLC bought a new stake in Rockwell Automation in the fourth quarter worth $130,000. Valeo Financial Advisors LLC bought a new stake in Rockwell Automation in the third quarter worth $131,000. New England Private Wealth Advisors LLC bought a new stake in Rockwell Automation in the third quarter worth $200,000. Gofen & Glossberg LLC IL bought a new stake in Rockwell Automation in the fourth quarter worth $202,000. Finally, Cpwm LLC bought a new stake in Rockwell Automation in the fourth quarter worth $204,000. 72.06% of the stock is owned by institutional investors and hedge funds.
In related news, Director Keith D. Nosbusch sold 10,500 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $203.00, for a total transaction of $2,131,500.00. Following the transaction, the director now owns 430,199 shares in the company, valued at $87,330,397. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP David M. Dorgan sold 10,400 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $202.41, for a total transaction of $2,105,064.00. Following the transaction, the vice president now owns 12,853 shares in the company, valued at approximately $2,601,575.73. The disclosure for this sale can be found here. Insiders have sold 123,627 shares of company stock worth $23,604,488 in the last quarter. 1.65% of the stock is owned by corporate insiders.
Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.74 by $0.22. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.60 billion. Rockwell Automation had a net margin of 5.85% and a return on equity of 39.45%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.75 earnings per share. sell-side analysts predict that Rockwell Automation will post 7.79 EPS for the current year.
Rockwell Automation declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 24th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Tuesday, February 20th will be given a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Friday, February 16th. Rockwell Automation’s dividend payout ratio is currently 117.19%.
Several analysts have weighed in on ROK shares. Goldman Sachs Group reissued a “neutral” rating and issued a $193.00 price target on shares of Rockwell Automation in a research note on Friday, December 8th. Daiwa Capital Markets started coverage on shares of Rockwell Automation in a research note on Wednesday, December 20th. They issued a “neutral” rating and a $199.00 price target for the company. Stifel Nicolaus reissued a “hold” rating and issued a $198.00 price target on shares of Rockwell Automation in a research note on Monday, December 11th. Citigroup lowered their price target on shares of Rockwell Automation from $214.00 to $209.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. began coverage on shares of Rockwell Automation in a research note on Wednesday, November 29th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $190.00.
About Rockwell Automation
Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.
Want to see what other hedge funds are holding ROK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rockwell Automation (NYSE:ROK).
Receive News & Ratings for Rockwell Automation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rockwell Automation and related companies with MarketBeat.com's FREE daily email newsletter.