Stone Ridge Asset Management LLC bought a new stake in shares of Rockwell Automation (NYSE:ROK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,928 shares of the industrial products company’s stock, valued at approximately $771,000.
Other large investors have also made changes to their positions in the company. Cerebellum GP LLC purchased a new position in shares of Rockwell Automation during the 4th quarter valued at approximately $130,000. Valeo Financial Advisors LLC purchased a new position in shares of Rockwell Automation during the 3rd quarter valued at approximately $131,000. Aries Wealth Management purchased a new position in Rockwell Automation in the 4th quarter valued at $209,000. Gofen & Glossberg LLC IL purchased a new position in Rockwell Automation in the 4th quarter valued at $202,000. Finally, Cpwm LLC purchased a new position in Rockwell Automation in the 4th quarter valued at $204,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.
Rockwell Automation stock opened at $181.38 on Thursday. Rockwell Automation has a fifty-two week low of $148.31 and a fifty-two week high of $210.72. The company has a current ratio of 1.98, a quick ratio of 1.73 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $23,289.91, a price-to-earnings ratio of 26.19, a PEG ratio of 2.06 and a beta of 1.21.
The business also recently declared a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.835 per share. The ex-dividend date was Friday, February 16th. This represents a $3.34 annualized dividend and a dividend yield of 1.84%. Rockwell Automation’s dividend payout ratio is presently 117.19%.
Rockwell Automation announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 24th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
A number of research analysts have weighed in on the company. ValuEngine upgraded Rockwell Automation from a “hold” rating to a “buy” rating in a report on Saturday, March 10th. Cowen raised their price objective on Rockwell Automation from $165.00 to $175.00 and gave the company a “market perform” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on Rockwell Automation from $182.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Morgan Stanley raised their price objective on Rockwell Automation from $194.00 to $206.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. Finally, UBS assumed coverage on Rockwell Automation in a report on Monday, January 22nd. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $192.92.
In other news, insider John P. Mcdermott sold 2,050 shares of Rockwell Automation stock in a transaction on Monday, February 26th. The stock was sold at an average price of $187.90, for a total transaction of $385,195.00. Following the transaction, the insider now owns 40,353 shares in the company, valued at approximately $7,582,328.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP David M. Dorgan sold 10,400 shares of Rockwell Automation stock in a transaction on Friday, January 26th. The stock was sold at an average price of $202.41, for a total value 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. In the last quarter, insiders have sold 123,627 shares of company stock worth $23,604,488. Insiders own 1.28% of the company’s stock.
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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