Richard C. Young & CO. LTD. Sells 4,346 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Richard C. Young & CO. LTD. lowered its position in Rockwell Automation, Inc. (NYSE:ROK) by 37.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 7,161 shares of the industrial products company’s stock after selling 4,346 shares during the period. Richard C. Young & CO. LTD.’s holdings in Rockwell Automation were worth $1,923,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of ROK. Acadian Asset Management LLC raised its holdings in Rockwell Automation by 85.6% during the 1st quarter. Acadian Asset Management LLC now owns 12,190 shares of the industrial products company’s stock valued at $3,547,000 after acquiring an additional 5,623 shares during the period. Osaic Holdings Inc. increased its holdings in Rockwell Automation by 8.5% during the 1st quarter. Osaic Holdings Inc. now owns 49,695 shares of the industrial products company’s stock worth $14,482,000 after acquiring an additional 3,876 shares during the period. Covestor Ltd raised its position in shares of Rockwell Automation by 25.7% in the first quarter. Covestor Ltd now owns 318 shares of the industrial products company’s stock worth $93,000 after buying an additional 65 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Rockwell Automation by 10.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,036 shares of the industrial products company’s stock valued at $2,050,000 after acquiring an additional 650 shares in the last quarter. Finally, Lake Street Advisors Group LLC lifted its position in Rockwell Automation by 18.7% during the first quarter. Lake Street Advisors Group LLC now owns 1,329 shares of the industrial products company’s stock valued at $387,000 after purchasing an additional 209 shares during the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

ROK opened at $286.15 on Monday. The company has a market cap of $32.31 billion, a P/E ratio of 34.56, a price-to-earnings-growth ratio of 2.95 and a beta of 1.36. The company has a quick ratio of 1.17, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. The firm’s 50-day moving average price is $269.16 and its 200-day moving average price is $266.82. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the firm posted $3.64 EPS. The firm’s revenue was down 20.6% compared to the same quarter last year. As a group, equities analysts anticipate that Rockwell Automation, Inc. will post 9.54 EPS for the current fiscal year.

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

Rockwell Automation Increases Dividend

The business 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. This represents a $5.24 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Monday, November 18th. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s dividend payout ratio is currently 60.39%.

Insider Transactions at Rockwell Automation

In related news, SVP Veena M. Lakkundi sold 579 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $266.86, for a total value of $154,511.94. Following the transaction, the senior vice president now directly owns 4,576 shares of the company’s stock, valued at approximately $1,221,151.36. This trade represents a 11.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Oppenheimer upped their price objective on Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. UBS Group initiated coverage on shares of Rockwell Automation in a report on Wednesday, November 13th. They set a “neutral” rating and a $313.00 target price for the company. Bank of America boosted their price objective on shares of Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays increased their target price on Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company increased their target price on Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Rockwell Automation currently has a consensus rating of “Hold” and a consensus target price of $286.13.

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.