The Manufacturers Life Insurance Company reduced its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 8.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,209 shares of the industrial products company’s stock after selling 10,886 shares during the quarter. The Manufacturers Life Insurance Company owned 0.10% of Rockwell Automation worth $26,749,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Hexavest Inc. raised its stake in Rockwell Automation by 395.8% during the 3rd quarter. Hexavest Inc. now owns 119 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 95 shares during the last quarter. Nachman Norwood & Parrott Inc acquired a new position in Rockwell Automation during the 3rd quarter valued at $32,000. Financial Management Professionals Inc. raised its stake in Rockwell Automation by 914.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 213 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 192 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in Rockwell Automation during the 2nd quarter valued at $51,000. Finally, Hanseatic Management Services Inc. acquired a new position in Rockwell Automation during the 3rd quarter valued at $66,000. Hedge funds and other institutional investors own 76.39% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Daiwa Capital Markets upgraded shares of Rockwell Automation from a “neutral” rating to an “outperform” rating and set a $240.00 price objective for the company in a research note on Wednesday, September 23rd. Zacks Investment Research upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $256.00 price objective for the company in a research note on Friday, November 13th. Barclays increased their price objective on shares of Rockwell Automation from $250.00 to $274.00 and gave the company an “overweight” rating in a research note on Wednesday, November 11th. Wells Fargo & Company restated a “hold” rating on shares of Rockwell Automation in a research note on Thursday, November 12th. Finally, Credit Suisse Group increased their price objective on shares of Rockwell Automation from $226.00 to $250.00 and gave the company a “neutral” rating in a research note on Wednesday, November 11th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $225.24.
Rockwell Automation (NYSE:ROK) last posted its earnings results on Sunday, November 15th. The industrial products company reported $1.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.10. Rockwell Automation had a net margin of 11.85% and a return on equity of 105.45%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the firm earned $2.01 EPS. The firm’s quarterly revenue was down 9.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Rockwell Automation, Inc. will post 7.54 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Monday, November 16th will be issued a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $4.28 dividend on an annualized basis and a yield of 1.73%. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.02. Rockwell Automation’s dividend payout ratio is currently 49.37%.
In other Rockwell Automation news, SVP Elik I. Fooks sold 7,000 shares of the stock in a transaction dated Thursday, November 19th. The shares were sold at an average price of $246.03, for a total transaction of $1,722,210.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Isaac Woods sold 297 shares of the stock in a transaction dated Friday, November 20th. The stock was sold at an average price of $250.07, for a total transaction of $74,270.79. Following the sale, the vice president now directly owns 717 shares in the company, valued at approximately $179,300.19. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,708 shares of company stock worth $13,108,209. Insiders own 0.77% of the company’s stock.
Rockwell Automation Profile
Rockwell Automation, Inc provides industrial automation and digital transformation solutions. It operates in two segments, Architecture & Software, and Control Products & Solutions. The Architecture & Software segment offers a portfolio of automation and information platforms, including hardware and software.
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