Rockwell Automation, Inc. (NYSE:ROK) Shares Bought by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC increased its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 33.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,015 shares of the industrial products company’s stock after buying an additional 1,515 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Rockwell Automation were worth $1,615,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Pathway Financial Advisers LLC bought a new position in Rockwell Automation in the first quarter worth about $26,000. Richardson Financial Services Inc. raised its position in shares of 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. Ashton Thomas Securities LLC bought a new stake in shares of Rockwell Automation in the 3rd quarter worth approximately $26,000. Darwin Wealth Management LLC acquired a new position in Rockwell Automation during the 3rd quarter valued at approximately $34,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Rockwell Automation during the 2nd quarter worth $36,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Veena M. Lakkundi sold 579 shares of the company’s stock in a transaction on 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 directly owns 4,576 shares of the company’s stock, valued at $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 is available at the SEC website. Also, VP John M. Miller sold 467 shares of Rockwell Automation stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $284.07, for a total value of $132,660.69. Following the completion of the transaction, the vice president now directly owns 4,800 shares in the company, valued at $1,363,536. This represents a 8.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,746 shares of company stock worth $8,560,594. Corporate insiders own 0.68% of the company’s stock.

Rockwell Automation Stock Up 2.7 %

Shares of ROK stock opened at $298.84 on Tuesday. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08. The business’s fifty day moving average is $272.12 and its 200-day moving average is $267.32. The stock has a market cap of $33.74 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 3.02 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last released its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (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 firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the previous year, the company earned $3.64 earnings per share. Rockwell Automation’s revenue was down 20.6% compared to the same quarter last year. Equities analysts expect that Rockwell Automation, Inc. will post 9.46 earnings per share for the current fiscal year.

Rockwell Automation declared that its board has approved a share repurchase program on Thursday, September 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

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 $1.31 dividend. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Monday, November 18th. Rockwell Automation’s payout ratio is presently 63.29%.

Analyst Ratings Changes

A number of research firms have issued reports on ROK. Bank of America raised their target price on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. UBS Group began coverage on shares of Rockwell Automation in a research note on Wednesday, November 13th. They set a “neutral” rating and a $313.00 target price for the company. BNP Paribas started coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 target price for the company. Wells Fargo & Company lifted their price target on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Robert W. Baird increased their price objective on Rockwell Automation from $280.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $286.13.

Rockwell Automation 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.