Rockwell Automation, Inc. (NYSE:ROK) Stock Holdings Boosted by Carmel Capital Partners LLC

Carmel Capital Partners LLC lifted its position in Rockwell Automation, Inc. (NYSE:ROK) by 24.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,792 shares of the industrial products company’s stock after buying an additional 1,329 shares during the period. Rockwell Automation makes up 0.7% of Carmel Capital Partners LLC’s holdings, making the stock its 24th largest position. Carmel Capital Partners LLC’s holdings in Rockwell Automation were worth $1,823,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ROK. Pathway Financial Advisers LLC bought a new stake in Rockwell Automation during the first quarter worth approximately $26,000. Richardson Financial Services Inc. boosted its position in shares of Rockwell Automation by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 48 shares during the period. ESL Trust Services LLC purchased a new position in shares of Rockwell Automation in the first quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL purchased a new position in Rockwell Automation during the 2nd quarter worth approximately $36,000. Finally, Cultivar Capital Inc. purchased a new stake in shares of Rockwell Automation in the second quarter valued at $46,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Trading Down 1.8 %

Shares of Rockwell Automation stock opened at $272.01 on Friday. The company has a market cap of $30.86 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 5.12 and a beta of 1.36. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76. The company’s fifty day simple moving average is $266.92 and its 200-day simple moving average is $266.69. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73.

Rockwell Automation (NYSE:ROK) last posted 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 11.56% and a return on equity of 34.09%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the firm posted $3.64 EPS. The business’s revenue was down 20.6% compared to the same quarter last year. As a group, sell-side analysts expect that Rockwell Automation, Inc. will post 9.65 EPS for the current year.

Rockwell Automation Increases Dividend

The company also recently disclosed 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. 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 1.93%. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s dividend payout ratio (DPR) is currently 56.82%.

Rockwell Automation declared that its Board of Directors has initiated a share buyback program on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company raised their price objective on Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Oppenheimer raised their price target on shares of Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday. JPMorgan Chase & Co. lowered their price objective on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Barclays increased their target price on shares of Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a research report on Friday. Finally, TD Cowen lowered their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $284.21.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $266.86, for a total value of $154,511.94. Following the sale, the senior vice president now owns 4,576 shares of the company’s stock, valued at $1,221,151.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.68% of the stock is owned by insiders.

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.