Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in Rockwell Automation, Inc. (NYSE:ROK) by 57.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,134 shares of the industrial products company’s stock after selling 10,775 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Rockwell Automation were worth $2,184,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new position in Rockwell Automation in the 1st quarter valued at $26,000. ESL Trust Services LLC acquired a new position in shares of Rockwell Automation during the 1st quarter worth $29,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Rockwell Automation during the 2nd quarter worth $36,000. Cultivar Capital Inc. acquired a new position in shares of Rockwell Automation during the 2nd quarter worth $46,000. Finally, Headlands Technologies LLC acquired a new position in shares of Rockwell Automation during the 1st quarter worth $66,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Price Performance

Rockwell Automation stock opened at $266.72 on Friday. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76. The stock has a market capitalization of $30.26 billion, a P/E ratio of 30.31, a P/E/G ratio of 4.70 and a beta of 1.36. The firm’s 50-day moving average is $266.06 and its two-hundred day moving average is $266.81. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.63. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the company earned $3.01 EPS. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. Equities 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 buyback program on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Rockwell Automation Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a $1.31 dividend. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a dividend yield of 1.96%. Rockwell Automation’s dividend payout ratio (DPR) is currently 56.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Rockwell Automation in a research note on Friday, September 6th. They set an “overweight” rating and a $320.00 price target on the stock. Wells Fargo & Company upped their price target on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. TD Cowen lowered their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Robert W. Baird lowered their price target on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Mizuho increased their price objective 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. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $286.47.

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.