Champlain Investment Partners LLC Sells 25,230 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Champlain Investment Partners LLC lessened its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 2.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 838,607 shares of the industrial products company’s stock after selling 25,230 shares during the period. Rockwell Automation accounts for approximately 1.4% of Champlain Investment Partners LLC’s holdings, making the stock its 19th biggest position. Champlain Investment Partners LLC’s holdings in Rockwell Automation were worth $225,132,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ROK. CreativeOne Wealth LLC lifted its holdings in Rockwell Automation by 3.0% in the 1st quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock worth $372,000 after purchasing an additional 37 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Rockwell Automation in the first quarter worth $3,282,000. Magnetar Financial LLC purchased a new position in shares of Rockwell Automation in the first quarter worth $2,817,000. London & Capital Asset Management Ltd grew its stake in Rockwell Automation by 3.9% during the first quarter. London & Capital Asset Management Ltd now owns 140,787 shares of the industrial products company’s stock valued at $41,015,000 after acquiring an additional 5,340 shares in the last quarter. Finally, Ascent Group LLC increased its holdings in Rockwell Automation by 3.5% in the 1st quarter. Ascent Group LLC now owns 2,658 shares of the industrial products company’s stock valued at $774,000 after acquiring an additional 90 shares during the last quarter. 75.75% of the stock is owned by institutional investors.

Rockwell Automation Stock Performance

Shares of NYSE:ROK opened at $290.78 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. Rockwell Automation, Inc. has a 12 month low of $242.81 and a 12 month high of $312.76. The company has a market capitalization of $32.83 billion, a price-to-earnings ratio of 35.12, a PEG ratio of 2.89 and a beta of 1.36. The firm’s 50-day moving average is $271.38 and its 200 day moving average is $267.20.

Rockwell Automation (NYSE:ROK) last released its earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the firm posted $3.64 earnings per share. The company’s quarterly revenue was down 20.6% on a year-over-year basis. Research analysts predict that Rockwell Automation, Inc. will post 9.46 EPS for the current year.

Rockwell Automation announced that its board has authorized a share buyback program on Thursday, September 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Rockwell Automation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a dividend yield of 1.80%. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, November 18th. Rockwell Automation’s dividend payout ratio (DPR) is 63.29%.

Insider Activity

In other Rockwell Automation news, VP John M. Miller sold 467 shares of Rockwell Automation stock in a transaction on Monday, November 18th. The stock was sold at an average price of $284.07, for a total transaction of $132,660.69. Following the completion of the sale, the vice president now directly owns 4,800 shares of the company’s stock, valued at $1,363,536. The trade was a 8.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Veena M. Lakkundi sold 579 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $266.86, for a total value of $154,511.94. Following the completion of the sale, the senior vice president now owns 4,576 shares of the company’s stock, valued at $1,221,151.36. This represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

ROK has been the subject of several research reports. Morgan Stanley increased their price objective on shares of Rockwell Automation from $320.00 to $335.00 and gave the company an “overweight” rating in a report on Friday, November 15th. UBS Group began coverage on Rockwell Automation in a report on Wednesday, November 13th. They set a “neutral” rating and a $313.00 price target for the company. TD Cowen reduced their price objective on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Barclays increased their target price on Rockwell Automation from $245.00 to $255.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. Finally, BNP Paribas assumed coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 price target on the stock. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Rockwell Automation presently has an average rating of “Hold” and an average target price of $286.13.

About Rockwell Automation

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.