2,250 Shares in Rockwell Automation, Inc. (NYSE:ROK) Acquired by AlphaCentric Advisors LLC

AlphaCentric Advisors LLC bought a new position in shares of Rockwell Automation, Inc. (NYSE:ROK) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,250 shares of the industrial products company’s stock, valued at approximately $604,000.

Several other institutional investors have also recently added to or reduced their stakes in ROK. Vicus Capital purchased a new stake in Rockwell Automation in the third quarter valued at approximately $304,000. SG Americas Securities LLC lifted its stake in Rockwell Automation by 186.9% in the first quarter. SG Americas Securities LLC now owns 14,731 shares of the industrial products company’s stock valued at $4,292,000 after buying an additional 9,596 shares during the last quarter. Comerica Bank lifted its stake in Rockwell Automation by 6.1% in the first quarter. Comerica Bank now owns 60,019 shares of the industrial products company’s stock valued at $17,485,000 after buying an additional 3,425 shares during the last quarter. Magnetar Financial LLC purchased a new stake in Rockwell Automation in the first quarter valued at approximately $2,817,000. Finally, TimesSquare Capital Management LLC lifted its stake in Rockwell Automation by 5.0% in the first quarter. TimesSquare Capital Management LLC now owns 203,830 shares of the industrial products company’s stock valued at $59,382,000 after buying an additional 9,645 shares during the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

NYSE ROK opened at $264.65 on Tuesday. The company has a market capitalization of $30.03 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 4.68 and a beta of 1.36. 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 business’s 50-day moving average price is $265.95 and its 200 day moving average price is $266.44.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.08 by $0.63. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The company’s revenue was down 8.4% on a year-over-year basis. During the same period last year, the business posted $3.01 EPS. On average, research analysts predict that Rockwell Automation, Inc. will post 9.65 earnings per share for the current year.

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

Rockwell Automation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.31 per share. The ex-dividend date of this dividend is Monday, November 18th. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a yield of 1.98%. Rockwell Automation’s payout ratio is currently 56.82%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Bank of America boosted their target price on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company boosted their target price on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, October 7th. 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. Morgan Stanley initiated coverage on Rockwell Automation in a report on Friday, September 6th. They set an “overweight” rating and a $320.00 price objective on the stock. Finally, Oppenheimer boosted their target price on Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $281.93.

About Rockwell Automation

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.