Rockwell Automation, Inc. (NYSE:ROK) Stock Position Boosted by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC raised its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 202,199 shares of the industrial products company’s stock after purchasing an additional 2,902 shares during the period. Rockwell Automation accounts for approximately 2.9% of Reynders McVeigh Capital Management LLC’s investment portfolio, making the stock its 8th biggest holding. Reynders McVeigh Capital Management LLC owned about 0.18% of Rockwell Automation worth $54,282,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. raised its position in Rockwell Automation by 100.0% during the third 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 stake in Rockwell Automation in the third quarter valued at approximately $26,000. Darwin Wealth Management LLC purchased a new position in shares of Rockwell Automation in the third quarter valued at approximately $34,000. Strategic Investment Solutions Inc. IL acquired a new position in Rockwell Automation during the 2nd quarter worth $36,000. Finally, Cultivar Capital Inc. purchased a new stake in shares of Rockwell Automation in the 2nd quarter valued at approximately $46,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Rockwell Automation Trading Down 1.9 %

Shares of NYSE ROK opened at $291.54 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 1.08 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 cap of $32.91 billion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 3.09 and a beta of 1.36. The business has a fifty day simple moving average of $275.94 and a 200-day simple moving average of $268.31.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the business earned $3.64 earnings per share. The firm’s revenue was down 20.6% compared to the same quarter last year. Sell-side analysts predict that Rockwell Automation, Inc. will post 9.44 EPS for the current year.

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

Rockwell Automation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.31 per share. 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. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.80%. Rockwell Automation’s payout ratio is currently 63.29%.

Insider Activity at Rockwell Automation

In other news, Director James P. Keane sold 2,000 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $296.00, for a total transaction of $592,000.00. Following the transaction, the director now owns 11,518 shares of the company’s stock, valued at approximately $3,409,328. This represents a 14.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Blake D. Moret sold 26,700 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $298.63, for a total value of $7,973,421.00. Following the completion of the sale, the chief executive officer now owns 78,115 shares of the company’s stock, valued at approximately $23,327,482.45. This trade represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,746 shares of company stock valued at $9,152,594. Company insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barclays raised their price target on Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. BNP Paribas initiated 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. Robert W. Baird lifted their price target on shares of Rockwell Automation from $290.00 to $305.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. UBS Group assumed coverage on Rockwell Automation in a research report on Wednesday, November 13th. They set a “neutral” rating and a $313.00 target price on the stock. Finally, TD Cowen reduced their target price on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Rockwell Automation presently has an average rating of “Hold” and an average target price of $287.13.

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.