Integrated Wealth Concepts LLC Has $1.61 Million Stake in Rockwell Automation, Inc. (NYSE:ROK)

Integrated Wealth Concepts LLC lifted its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 2.5% during the third quarter, Holdings Channel.com reports. The firm owned 6,012 shares of the industrial products company’s stock after buying an additional 149 shares during the period. Integrated Wealth Concepts LLC’s holdings in Rockwell Automation were worth $1,614,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Richardson Financial Services Inc. lifted its position in shares of 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 purchasing an additional 48 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Rockwell Automation during the third quarter worth approximately $26,000. Darwin Wealth Management LLC acquired a new position in shares of Rockwell Automation during the third quarter worth approximately $34,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Rockwell Automation during the second quarter worth approximately $36,000. Finally, Cultivar Capital Inc. bought a new stake in shares of Rockwell Automation during the second quarter worth approximately $46,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ROK has been the subject of a number of recent research reports. Barclays raised shares of Rockwell Automation from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $255.00 to $290.00 in a research note on Thursday. Mizuho boosted their price target on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. dropped their price target on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Wells Fargo & Company boosted their price target on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Bank of America boosted their price target on shares of Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $289.47.

Rockwell Automation Stock Down 0.6 %

Shares of ROK stock opened at $295.42 on Friday. The firm has a fifty day moving average of $277.67 and a 200-day moving average of $268.85. 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 capitalization of $33.35 billion, a price-to-earnings ratio of 35.68, a P/E/G ratio of 3.06 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.07. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the firm earned $3.64 earnings per share. The firm’s revenue was down 20.6% compared to the same quarter last year. As a group, equities research analysts predict that Rockwell Automation, Inc. will post 9.39 earnings per share 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. Investors of record on Monday, November 18th will be issued a dividend of $1.31 per share. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date is Monday, November 18th. This represents a $5.24 annualized dividend and a yield of 1.77%. Rockwell Automation’s dividend payout ratio is presently 63.29%.

Rockwell Automation announced that its Board of Directors has approved a share repurchase plan on Thursday, September 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, SVP Veena M. Lakkundi sold 579 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $266.86, for a total transaction of $154,511.94. Following the completion of the transaction, the senior vice president now owns 4,576 shares in the company, valued at approximately $1,221,151.36. This represents a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP John M. Miller sold 467 shares of the 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 transaction, the vice president now 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,070 shares of company stock worth $10,142,408. 0.68% of the stock is owned by insiders.

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.