Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 8.0% during the third quarter, Holdings Channel reports. The fund owned 7,905 shares of the industrial products company’s stock after selling 686 shares during the quarter. Kentucky Retirement Systems’ holdings in Rockwell Automation were worth $2,122,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new position in Rockwell Automation in the first quarter valued at $26,000. Richardson Financial Services Inc. lifted its holdings in shares of Rockwell Automation by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 48 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Rockwell Automation during the 3rd quarter worth about $26,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Rockwell Automation in the second quarter worth approximately $36,000. Finally, Cultivar Capital Inc. acquired a new position in Rockwell Automation during the second quarter worth approximately $46,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Price Performance

ROK opened at $286.15 on Monday. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76. The firm has a market cap of $32.31 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 2.95 and a beta of 1.36. The company has a current ratio of 1.08, a quick ratio of 1.17 and a debt-to-equity ratio of 0.70. The company has a fifty day simple moving average of $269.16 and a 200 day simple moving average of $266.82.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the previous year, the company earned $3.64 earnings per share. The company’s revenue for the quarter was down 20.6% compared to the same quarter last year. Equities research analysts expect that Rockwell Automation, Inc. will post 9.54 EPS for the current fiscal year.

Rockwell Automation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.83%. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date is Monday, November 18th. Rockwell Automation’s dividend payout ratio is presently 60.39%.

Rockwell Automation declared that its board has approved a share buyback program on Thursday, September 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ROK shares. Wells Fargo & Company lifted their price target on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, October 7th. UBS Group began coverage on Rockwell Automation in a research report on Wednesday, November 13th. They set a “neutral” rating and a $313.00 price target for the company. Oppenheimer raised their price objective on Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Robert W. Baird boosted their target price on Rockwell Automation from $280.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, BNP Paribas started coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They set an “outperform” rating and a $345.00 target price for the company. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $286.13.

Insider Activity

In other news, SVP Veena M. Lakkundi sold 579 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were 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 approximately $1,221,151.36. The trade was a 11.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.68% of the company’s stock.

Rockwell Automation Company Profile

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.