Nuance Investments LLC Buys Shares of 32,680 Rockwell Automation, Inc. (NYSE:ROK)

Nuance Investments LLC purchased a new position in Rockwell Automation, Inc. (NYSE:ROK) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 32,680 shares of the industrial products company’s stock, valued at approximately $8,773,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Prospera Private Wealth LLC bought a new position in shares of Rockwell Automation during the third quarter valued at approximately $137,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Rockwell Automation in the 3rd quarter worth approximately $4,966,000. SouthState Corp boosted its holdings in shares of Rockwell Automation by 6.6% in the third quarter. SouthState Corp now owns 46,684 shares of the industrial products company’s stock valued at $12,533,000 after acquiring an additional 2,887 shares in the last quarter. Prospera Financial Services Inc increased its stake in shares of Rockwell Automation by 0.9% during the third quarter. Prospera Financial Services Inc now owns 4,033 shares of the industrial products company’s stock valued at $1,083,000 after acquiring an additional 37 shares during the period. Finally, Strengthening Families & Communities LLC raised its holdings in Rockwell Automation by 9.3% during the third quarter. Strengthening Families & Communities LLC now owns 3,209 shares of the industrial products company’s stock worth $862,000 after purchasing an additional 274 shares in the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Barclays raised their price objective on shares of Rockwell Automation from $245.00 to $255.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. UBS Group initiated coverage on shares of Rockwell Automation in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 price objective on the stock. Mizuho increased their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. decreased their price target 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. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $286.13.

Rockwell Automation Stock Performance

Shares of ROK stock opened at $278.08 on Wednesday. The stock’s fifty day simple moving average is $269.96 and its 200-day simple moving average is $266.94. The company has a market capitalization of $31.40 billion, a price-to-earnings ratio of 33.58, a P/E/G ratio of 2.95 and a beta of 1.36. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $312.76.

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

Rockwell Automation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 1.88%. 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%.

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

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 579 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 4,576 shares in the company, valued at $1,221,151.36. This trade 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. Corporate insiders own 0.68% of the company’s stock.

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.