Sumitomo Mitsui Trust Group Inc. Boosts Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Sumitomo Mitsui Trust Group Inc. raised its position in Rockwell Automation, Inc. (NYSE:ROK) by 4.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 986,849 shares of the industrial products company’s stock after buying an additional 41,605 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Rockwell Automation were worth $264,929,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new position in shares of Rockwell Automation during the first quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new stake in Rockwell Automation in the 3rd quarter valued at approximately $26,000. Richardson Financial Services Inc. increased its position in 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 purchasing an additional 48 shares during the period. ESL Trust Services LLC purchased a new position in shares of Rockwell Automation during the 1st quarter worth approximately $29,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Rockwell Automation in the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Insider Buying and Selling

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $266.86, for a total transaction 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Rockwell Automation Stock Performance

NYSE:ROK opened at $277.82 on Tuesday. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76. The firm has a 50 day simple moving average of $267.03 and a 200-day simple moving average of $266.57. The firm has a market cap of $31.52 billion, a PE ratio of 33.55, a P/E/G ratio of 4.74 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.84 and a quick ratio of 0.68.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The business’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.64 earnings per share. On average, equities analysts expect that Rockwell Automation, Inc. will post 9.56 EPS for the current year.

Rockwell Automation announced that its Board of Directors has initiated a stock 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 repurchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Rockwell Automation Increases Dividend

The company also recently disclosed 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 represents a $5.24 dividend on an annualized basis and a dividend yield of 1.89%. This is an increase 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%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wells Fargo & Company increased 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. TD Cowen cut their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Barclays boosted their price objective on shares of Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a report on Friday. JPMorgan Chase & Co. lowered their target price 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. Finally, Morgan Stanley initiated coverage on shares of Rockwell Automation in a research report on Friday, September 6th. They set an “overweight” rating and a $320.00 price target for the company. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $284.21.

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.