Dynamic Technology Lab Private Ltd Invests $300,000 in Rockwell Automation, Inc. (NYSE:ROK)

Dynamic Technology Lab Private Ltd bought a new stake in shares of Rockwell Automation, Inc. (NYSE:ROK) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,119 shares of the industrial products company’s stock, valued at approximately $300,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Richardson Financial Services Inc. lifted its stake 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 valued at $26,000 after buying an additional 48 shares during the period. Ashton Thomas Securities LLC acquired a new position in Rockwell Automation in the 3rd quarter valued at approximately $26,000. Darwin Wealth Management LLC bought a new stake in shares of Rockwell Automation in the 3rd quarter worth approximately $34,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Rockwell Automation during the 2nd quarter worth approximately $36,000. Finally, Cultivar Capital Inc. bought a new stake in shares of Rockwell Automation during the second quarter valued at approximately $46,000. 75.75% of the stock is owned by institutional investors.

Rockwell Automation Trading Up 0.1 %

Shares of ROK opened at $295.14 on Monday. The stock has a fifty day moving average price of $274.63 and a two-hundred day moving average price of $267.98. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08. The company has a market cap of $33.32 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 3.07 and a beta of 1.36. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.07. The business had revenue of $2.04 billion for 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 firm’s quarterly revenue was down 20.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.64 EPS. Analysts predict that Rockwell Automation, Inc. will post 9.44 EPS for the current fiscal year.

Rockwell Automation Increases Dividend

The business also recently disclosed 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 represents a $5.24 annualized dividend and a yield of 1.78%. The ex-dividend date is Monday, November 18th. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s payout ratio is 63.29%.

Rockwell Automation announced that its Board of Directors has approved a stock repurchase plan on Thursday, September 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

ROK has been the subject of several research reports. Barclays raised their target price on Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. TD Cowen reduced their price objective on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their target price on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Mizuho raised their price target on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird upped their price objective on Rockwell Automation from $290.00 to $305.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Three 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $287.13.

Insiders Place Their Bets

In other Rockwell Automation news, VP John M. Miller sold 467 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $284.07, for a total transaction of $132,660.69. Following the completion of the sale, the vice president now directly owns 4,800 shares of the company’s stock, valued at approximately $1,363,536. The trade was a 8.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Veena M. Lakkundi sold 579 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $266.86, for a total transaction of $154,511.94. Following the completion of the transaction, the senior vice president now directly owns 4,576 shares in the company, valued at $1,221,151.36. This trade represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,746 shares of company stock valued at $9,152,594. 0.68% of the stock is currently owned by corporate insiders.

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.