Principal Financial Group Inc. Buys 11,161 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Principal Financial Group Inc. raised its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 5.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,679 shares of the industrial products company’s stock after buying an additional 11,161 shares during the quarter. Principal Financial Group Inc.’s holdings in Rockwell Automation were worth $54,948,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in Rockwell Automation in the third quarter worth about $26,000. Richardson Financial Services Inc. grew its holdings in shares of Rockwell Automation by 100.0% in the third 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 last quarter. Darwin Wealth Management LLC purchased a new position in shares of Rockwell Automation during the third quarter worth approximately $34,000. Strategic Investment Solutions Inc. IL purchased a new position in Rockwell Automation during the 2nd quarter worth $36,000. Finally, DiNuzzo Private Wealth Inc. increased its stake in shares of Rockwell Automation by 1,707.7% during the third quarter. DiNuzzo Private Wealth Inc. now owns 235 shares of the industrial products company’s stock valued at $63,000 after buying an additional 222 shares during the period. 75.75% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rockwell Automation news, CEO Blake D. Moret sold 26,700 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $298.63, for a total transaction of $7,973,421.00. Following the sale, the chief executive officer now owns 78,115 shares in the company, valued at $23,327,482.45. This represents a 25.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Veena M. Lakkundi sold 579 shares of the company’s 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 sale, the senior vice president now owns 4,576 shares in the company, valued at $1,221,151.36. The trade was a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,541 shares of company stock valued at $10,586,674 over the last 90 days. 0.68% of the stock is owned by company insiders.

Rockwell Automation Stock Performance

NYSE:ROK opened at $289.79 on Monday. The company has a market cap of $32.72 billion, a P/E ratio of 35.00, a P/E/G ratio of 3.12 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 twelve month low of $242.81 and a twelve month high of $312.76. The company’s 50-day moving average price is $283.05 and its 200-day moving average price is $271.23.

Rockwell Automation (NYSE:ROK) last issued 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. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The company’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same period last year, the company earned $3.64 EPS. On average, sell-side analysts forecast that Rockwell Automation, Inc. will post 9.37 earnings per share for the current fiscal year.

Rockwell Automation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.31 dividend. This represents a $5.24 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was 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 63.29%.

Rockwell Automation declared that its board has approved a stock repurchase 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

ROK has been the subject of several recent research reports. BNP Paribas started coverage on Rockwell Automation in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 price target for the company. Bank of America lifted their price objective on shares of Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company upped their target price on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Barclays raised Rockwell Automation from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $255.00 to $290.00 in a research report on Thursday, December 5th. Finally, HSBC raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 target price for the company in a report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $301.17.

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.