Utah Retirement Systems trimmed its holdings in shares of Rockwell Automation (NYSE:ROK) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,786 shares of the industrial products company’s stock after selling 400 shares during the period. Utah Retirement Systems’ holdings in Rockwell Automation were worth $4,272,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ROK. First Republic Investment Management Inc. increased its stake in shares of Rockwell Automation by 48.7% in the third quarter. First Republic Investment Management Inc. now owns 34,664 shares of the industrial products company’s stock worth $6,501,000 after buying an additional 11,357 shares during the last quarter. Alleghany Corp DE increased its stake in shares of Rockwell Automation by 38.8% in the third quarter. Alleghany Corp DE now owns 279,000 shares of the industrial products company’s stock worth $52,318,000 after buying an additional 78,000 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Rockwell Automation by 444.4% in the third quarter. Renaissance Technologies LLC now owns 14,700 shares of the industrial products company’s stock worth $2,757,000 after buying an additional 12,000 shares during the last quarter. Riverhead Capital Management LLC increased its stake in shares of Rockwell Automation by 27.6% in the third quarter. Riverhead Capital Management LLC now owns 5,780 shares of the industrial products company’s stock worth $1,084,000 after buying an additional 1,250 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Rockwell Automation in the third quarter worth $445,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

ROK opened at $168.74 on Friday. Rockwell Automation has a 1-year low of $153.67 and a 1-year high of $209.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.27 and a quick ratio of 1.01. The company has a market capitalization of $20.69 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 1.63 and a beta of 1.29.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.09. Rockwell Automation had a return on equity of 57.53% and a net margin of 8.03%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the business earned $1.69 earnings per share. Rockwell Automation’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that Rockwell Automation will post 9.03 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 12th will be given a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 2.30%. This is a boost from Rockwell Automation’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Thursday, November 8th. Rockwell Automation’s dividend payout ratio is currently 47.84%.

Rockwell Automation declared that its Board of Directors has approved a share repurchase plan on Thursday, September 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

A number of analysts recently issued reports on ROK shares. Citigroup set a $185.00 price target on shares of Rockwell Automation and gave the stock a “hold” rating in a research note on Thursday, November 8th. Wells Fargo & Co lowered their target price on shares of Rockwell Automation from $210.00 to $205.00 and set an “outperform” rating for the company in a research note on Thursday, November 8th. Zacks Investment Research upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $183.00 target price for the company in a research note on Tuesday, October 23rd. Cowen lowered shares of Rockwell Automation from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $175.00 to $150.00 in a research note on Monday, October 15th. Finally, Credit Suisse Group boosted their price target on shares of Rockwell Automation from $171.00 to $173.00 and gave the company an “underperform” rating in a report on Thursday, November 8th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. Rockwell Automation currently has an average rating of “Hold” and an average price target of $178.87.

In related news, CFO Patrick P. Goris sold 577 shares of the company’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $175.83, for a total value of $101,453.91. Following the completion of the transaction, the chief financial officer now directly owns 8,326 shares in the company, valued at $1,463,960.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Theodore D. Crandall sold 13,420 shares of the company’s stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $175.77, for a total value of $2,358,833.40. Following the completion of the transaction, the insider now owns 95,994 shares of the company’s stock, valued at $16,872,865.38. The disclosure for this sale can be found here. Insiders sold 34,547 shares of company stock valued at $6,070,978 over the last three months. 1.65% of the stock is owned by company insiders.

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About Rockwell Automation

Rockwell Automation Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.

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Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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