Cambiar Investors LLC Lowers Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Cambiar Investors LLC lowered its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 8.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,673 shares of the industrial products company’s stock after selling 149 shares during the period. Cambiar Investors LLC’s holdings in Rockwell Automation were worth $449,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ROK. Pathway Financial Advisers LLC purchased a new position in shares of Rockwell Automation during the 1st quarter valued at $26,000. Richardson Financial Services Inc. boosted its stake in Rockwell Automation by 100.0% during 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. ESL Trust Services LLC purchased a new position in Rockwell Automation during the first quarter worth about $29,000. Strategic Investment Solutions Inc. IL bought a new position in Rockwell Automation in the 2nd quarter worth about $36,000. Finally, Cultivar Capital Inc. purchased a new stake in shares of Rockwell Automation in the 2nd quarter valued at about $46,000. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

NYSE:ROK opened at $268.72 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $312.76. The firm has a market cap of $30.49 billion, a PE ratio of 30.54, a price-to-earnings-growth ratio of 4.64 and a beta of 1.36. The business has a 50 day moving average price of $266.02 and a 200-day moving average price of $266.69.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, beating 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 business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the company posted $3.01 EPS. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. Equities research analysts predict that Rockwell Automation, Inc. will post 9.65 earnings per share for the current year.

Rockwell Automation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Monday, November 18th. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s payout ratio is currently 56.82%.

Rockwell Automation declared that its board has initiated a stock buyback plan on Thursday, September 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ROK shares. Barclays decreased their price objective on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. Oppenheimer increased their price target on shares of Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Morgan Stanley began coverage on shares of Rockwell Automation in a report on Friday, September 6th. They set an “overweight” rating and a $320.00 price objective for the company. Robert W. Baird cut their target price on shares of Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Wells Fargo & Company raised their price target on Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $286.47.

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.