Mariner Wealth Advisors LLC Reduces Position in Rockwell Automation (ROK)

Mariner Wealth Advisors LLC lowered its stake in shares of Rockwell Automation (NYSE:ROK) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,842 shares of the industrial products company’s stock after selling 597 shares during the quarter. Mariner Wealth Advisors LLC’s holdings in Rockwell Automation were worth $3,111,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Uncommon Cents Investing LLC bought a new position in Rockwell Automation during the fourth quarter worth $1,302,000. Virtu Financial LLC bought a new stake in Rockwell Automation in the 4th quarter valued at $1,935,000. Tower Research Capital LLC TRC increased its holdings in Rockwell Automation by 3,463.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,708 shares of the industrial products company’s stock valued at $532,000 after buying an additional 2,632 shares during the period. UBS Asset Management Americas Inc. increased its holdings in Rockwell Automation by 83.3% in the 4th quarter. UBS Asset Management Americas Inc. now owns 741,547 shares of the industrial products company’s stock valued at $145,603,000 after buying an additional 336,883 shares during the period. Finally, BlackRock Inc. increased its holdings in Rockwell Automation by 0.5% in the 4th quarter. BlackRock Inc. now owns 9,791,784 shares of the industrial products company’s stock valued at $1,922,619,000 after buying an additional 49,561 shares during the period. 72.36% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have issued reports on ROK. Barclays began coverage on shares of Rockwell Automation in a report on Thursday, February 15th. They issued an “equal weight” rating and a $200.00 price target on the stock. Zacks Investment Research raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $224.00 price target on the stock in a report on Monday, January 29th. JPMorgan Chase & Co. boosted their price target on shares of Rockwell Automation from $182.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Morgan Stanley boosted their price target on shares of Rockwell Automation from $194.00 to $206.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. Finally, Wells Fargo & Co boosted their price target on shares of Rockwell Automation from $190.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $185.00.

In other Rockwell Automation news, insider Elik I. Fooks sold 904 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $190.77, for a total transaction of $172,456.08. Following the completion of the sale, the insider now directly owns 9,464 shares of the company’s stock, valued at approximately $1,805,447.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sujeet Chand sold 3,371 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $190.85, for a total value of $643,355.35. Following the sale, the senior vice president now directly owns 47,183 shares of the company’s stock, valued at $9,004,875.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 118,397 shares of company stock worth $22,666,808. 1.28% of the stock is owned by corporate insiders.

Rockwell Automation (NYSE:ROK) opened at $185.56 on Tuesday. The stock has a market cap of $23,711.60, a PE ratio of 26.66, a P/E/G ratio of 2.09 and a beta of 1.17. The company has a current ratio of 1.98, a quick ratio of 1.73 and a debt-to-equity ratio of 0.57. Rockwell Automation has a 52-week low of $148.31 and a 52-week high of $210.72.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.22. The business had revenue of $1.59 billion for 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 quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.75 EPS. analysts forecast that Rockwell Automation will post 7.79 earnings per share for the current year.

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. The ex-dividend date is Friday, February 16th. This represents a $3.34 annualized dividend and a yield of 1.80%. Rockwell Automation’s dividend payout ratio (DPR) is 117.19%.

Rockwell Automation announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 24th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

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Rockwell Automation 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.

Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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