Janus Henderson Group PLC Trims Stake in Rockwell Automation, Inc. (NYSE:ROK)

Janus Henderson Group PLC reduced its stake in Rockwell Automation, Inc. (NYSE:ROK) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,619 shares of the industrial products company’s stock after selling 200 shares during the quarter. Janus Henderson Group PLC’s holdings in Rockwell Automation were worth $3,925,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Rockwell Automation

In related news, VP John M. Miller sold 467 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $284.07, for a total transaction of $132,660.69. Following the transaction, the vice president now directly owns 4,800 shares in the company, valued at approximately $1,363,536. This represents a 8.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Scott Genereux sold 279 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $296.13, for a total transaction of $82,620.27. Following the completion of the sale, the vice president now directly owns 2,891 shares of the company’s stock, valued at approximately $856,111.83. The trade was a 8.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,541 shares of company stock worth $10,586,674 over the last quarter. Insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Citigroup lifted their target price on shares of Rockwell Automation from $313.00 to $345.00 and gave the company a “buy” rating in a research note on Monday. Oppenheimer boosted their price objective on Rockwell Automation from $288.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Bank of America upped their price objective on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird lifted their target price on Rockwell Automation from $290.00 to $305.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. 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 report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Rockwell Automation presently has a consensus rating of “Hold” and a consensus target price of $294.75.

Rockwell Automation Stock Down 1.7 %

Shares of NYSE ROK opened at $293.72 on Wednesday. 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 12-month low of $242.81 and a 12-month high of $312.76. The firm’s 50-day moving average price is $278.28 and its 200-day moving average price is $269.09. The stock has a market capitalization of $33.16 billion, a price-to-earnings ratio of 35.47, a P/E/G ratio of 3.09 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 30.42% and a net margin of 11.53%. The company’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.64 earnings per share. On average, equities research analysts anticipate that Rockwell Automation, Inc. will post 9.39 EPS for the current fiscal year.

Rockwell Automation announced that its board has authorized a share repurchase program 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Rockwell Automation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 1.78%. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, November 18th. Rockwell Automation’s payout ratio is presently 63.29%.

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.