Rockwell Automation (ROK) Position Increased by SG Americas Securities LLC
SG Americas Securities LLC increased its holdings in shares of Rockwell Automation (NYSE:ROK) by 278.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,899 shares of the industrial products company’s stock after buying an additional 15,378 shares during the quarter. SG Americas Securities LLC’s holdings in Rockwell Automation were worth $3,919,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in ROK. Benjamin F. Edwards & Company Inc. raised its holdings in Rockwell Automation by 191.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,188 shares of the industrial products company’s stock valued at $198,000 after acquiring an additional 780 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in Rockwell Automation in the second quarter valued at $260,000. Whittier Trust Co. raised its holdings in Rockwell Automation by 121.6% in the second quarter. Whittier Trust Co. now owns 2,859 shares of the industrial products company’s stock valued at $358,000 after acquiring an additional 1,569 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Rockwell Automation by 1,430.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 3,229 shares of the industrial products company’s stock worth $537,000 after purchasing an additional 3,018 shares during the period. Finally, Creative Planning raised its holdings in shares of Rockwell Automation by 3.0% during the second quarter. Creative Planning now owns 21,484 shares of the industrial products company’s stock worth $3,571,000 after purchasing an additional 632 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.
ROK stock opened at $168.23 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.27. Rockwell Automation has a fifty-two week low of $153.67 and a fifty-two week high of $209.38. The stock has a market capitalization of $20.28 billion, a P/E ratio of 20.74, a PEG ratio of 1.60 and a beta of 1.28.
Rockwell Automation announced that its board has authorized a share buyback program on Thursday, September 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Monday, November 12th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Thursday, November 8th. This is a boost from Rockwell Automation’s previous quarterly dividend of $0.92. Rockwell Automation’s dividend payout ratio (DPR) is 47.84%.
In related news, VP Susan Schmitt sold 4,500 shares of the stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $175.02, for a total value of $787,590.00. Following the sale, the vice president now owns 15,967 shares of the company’s stock, valued at approximately $2,794,544.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.28% of the stock is owned by company insiders.
A number of brokerages have weighed in on ROK. Zacks Investment Research raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $202.00 target price on the stock in a report on Friday, August 3rd. ValuEngine cut shares of Rockwell Automation from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. Stephens began coverage on shares of Rockwell Automation in a report on Monday. They set an “overweight” rating and a $200.00 target price on the stock. Berenberg Bank set a $145.00 target price on shares of Rockwell Automation and gave the stock a “sell” rating in a report on Monday. Finally, Credit Suisse Group increased their target price on shares of Rockwell Automation from $171.00 to $173.00 and gave the stock an “underperform” rating in a report on Thursday, November 8th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $178.80.
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Rockwell Automation Profile
Rockwell Automation Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.
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