Rockwell Automation, Inc. (NYSE:ROK) Shares Purchased by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC increased its position in Rockwell Automation, Inc. (NYSE:ROK) by 9.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,800 shares of the industrial products company’s stock after acquiring an additional 15,340 shares during the period. TimesSquare Capital Management LLC’s holdings in Rockwell Automation were worth $47,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Rockwell Automation by 951.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company’s stock worth $1,611,915,000 after purchasing an additional 5,006,706 shares during the last quarter. International Assets Investment Management LLC raised its position in Rockwell Automation by 29,591.7% during the 3rd quarter. International Assets Investment Management LLC now owns 936,178 shares of the industrial products company’s stock worth $251,326,000 after buying an additional 933,025 shares during the last quarter. Van ECK Associates Corp lifted its stake in Rockwell Automation by 1,119.3% during the 2nd quarter. Van ECK Associates Corp now owns 763,351 shares of the industrial products company’s stock valued at $210,135,000 after acquiring an additional 700,745 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Rockwell Automation by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 14,048,986 shares of the industrial products company’s stock valued at $4,092,891,000 after acquiring an additional 438,356 shares during the last quarter. Finally, Swedbank AB acquired a new stake in shares of Rockwell Automation in the first quarter worth $118,345,000. 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 $272.14 on Friday. 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, Inc. has a twelve month low of $242.81 and a twelve month high of $312.76. The firm has a market capitalization of $30.88 billion, a PE ratio of 30.93, a P/E/G ratio of 5.12 and a beta of 1.36. The firm’s 50-day moving average price is $266.92 and its 200 day moving average price is $266.69.

Rockwell Automation (NYSE:ROK) last released its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.07. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the business posted $3.64 earnings per share. The business’s quarterly revenue was down 20.6% compared to the same quarter last year. On average, sell-side analysts predict that Rockwell Automation, Inc. will post 9.65 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 paid a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 1.93%. The ex-dividend date is Monday, November 18th. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s payout ratio is 56.82%.

Rockwell Automation announced that its board has initiated a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Morgan Stanley started coverage on shares of Rockwell Automation in a research report on Friday, September 6th. They set an “overweight” rating and a $320.00 target price for the company. TD Cowen decreased their price objective on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Bank of America boosted their price target on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Robert W. Baird raised their price objective on shares of Rockwell Automation from $280.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $284.21.

Insider Activity

In related 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 transaction of $154,511.94. Following the transaction, the senior vice president now directly owns 4,576 shares in the company, valued at approximately $1,221,151.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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.