Dynamic Capital Management Ltd lowered its stake in shares of Rockwell Automation (NYSE:ROK) by 27.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,669 shares of the industrial products company’s stock after selling 644 shares during the quarter. Dynamic Capital Management Ltd’s holdings in Rockwell Automation were worth $328,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new position in shares of Rockwell Automation during the fourth quarter worth about $130,000. Valeo Financial Advisors LLC purchased a new position in shares of Rockwell Automation during the third quarter worth about $131,000. Aries Wealth Management purchased a new position in shares of Rockwell Automation during the fourth quarter worth about $209,000. Gofen & Glossberg LLC IL purchased a new position in shares of Rockwell Automation during the fourth quarter worth about $202,000. Finally, Cpwm LLC purchased a new position in shares of Rockwell Automation during the fourth quarter worth about $204,000. 72.06% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Robert B. Murphy sold 696 shares of Rockwell Automation stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $200.00, for a total transaction of $139,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Keith D. Nosbusch sold 10,500 shares of Rockwell Automation stock in a transaction that occurred on 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 sale, the director now owns 430,199 shares of the company’s stock, valued at $87,330,397. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,627 shares of company stock valued at $23,604,488. 1.65% of the stock is owned by insiders.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.96 EPS for the quarter, beating the Zacks’ 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 firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.75 earnings per share. equities analysts forecast that Rockwell Automation will post 7.79 EPS for the current year.
Rockwell Automation announced that its board has initiated a share buyback plan on Wednesday, January 24th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Tuesday, February 20th will be given a $0.835 dividend. The ex-dividend date is Friday, February 16th. This represents a $3.34 dividend on an annualized basis and a yield of 1.77%. Rockwell Automation’s payout ratio is currently 50.61%.
A number of equities analysts recently issued reports on the company. ValuEngine raised Rockwell Automation from a “hold” rating to a “buy” rating in a report on Saturday. JPMorgan Chase & Co. raised their price target on Rockwell Automation from $182.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Barclays assumed coverage on Rockwell Automation in a report on Thursday, February 15th. They set an “equal weight” rating and a $200.00 price target on the stock. Morgan Stanley raised their price target on Rockwell Automation from $194.00 to $206.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Finally, UBS Group assumed coverage on Rockwell Automation in a report on Monday, January 22nd. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. Rockwell Automation currently has an average rating of “Hold” and a consensus target price of $190.00.
Rockwell Automation Company Profile
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.
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