Tocqueville Asset Management L.P. Has $8.58 Million Stake in Rockwell Automation (ROK)

Tocqueville Asset Management L.P. grew its stake in Rockwell Automation (NYSE:ROK) by 55.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 45,733 shares of the industrial products company’s stock after acquiring an additional 16,272 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Rockwell Automation were worth $8,576,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Ibex Wealth Advisors grew its stake in shares of Rockwell Automation by 1.5% in the 3rd quarter. Ibex Wealth Advisors now owns 19,835 shares of the industrial products company’s stock valued at $3,729,000 after purchasing an additional 291 shares during the period. New Jersey Better Educational Savings Trust grew its position in Rockwell Automation by 13.6% during the 3rd quarter. New Jersey Better Educational Savings Trust now owns 2,500 shares of the industrial products company’s stock worth $469,000 after acquiring an additional 300 shares during the last quarter. Syntal Capital Partners LLC grew its position in Rockwell Automation by 16.6% during the 2nd quarter. Syntal Capital Partners LLC now owns 2,125 shares of the industrial products company’s stock worth $353,000 after acquiring an additional 302 shares during the last quarter. Kidder Stephen W grew its position in Rockwell Automation by 1.0% during the 3rd quarter. Kidder Stephen W now owns 31,530 shares of the industrial products company’s stock worth $5,911,000 after acquiring an additional 310 shares during the last quarter. Finally, Laurion Capital Management LP grew its position in Rockwell Automation by 21.3% during the 2nd quarter. Laurion Capital Management LP now owns 1,793 shares of the industrial products company’s stock worth $298,000 after acquiring an additional 315 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Shares of ROK opened at $161.55 on Friday. The firm has a market capitalization of $20.18 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 1.59 and a beta of 1.29. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.27. Rockwell Automation has a 52 week low of $153.67 and a 52 week high of $209.38.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $2.11 EPS for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.09. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. Rockwell Automation had a return on equity of 57.53% and a net margin of 8.03%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $1.69 EPS. Analysts forecast that Rockwell Automation will post 9.03 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Monday, November 12th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 2.40%. This is a positive change 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 (DPR) is presently 47.84%.

Rockwell Automation declared that its board has authorized a share buyback plan on Thursday, September 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

A number of equities research analysts recently commented on the company. Zacks Investment Research lowered Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Friday, November 30th. Stephens assumed coverage on Rockwell Automation in a research report on Monday, November 19th. They set an “overweight” rating and a $200.00 price target on the stock. Berenberg Bank set a $145.00 price target on Rockwell Automation and gave the stock a “sell” rating in a research report on Monday, November 19th. Citigroup set a $185.00 price target on Rockwell Automation and gave the stock a “hold” rating in a research report on Thursday, November 8th. Finally, Credit Suisse Group increased their price target on Rockwell Automation from $171.00 to $173.00 and gave the stock an “underperform” rating in a research report on Thursday, November 8th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $178.87.

In other Rockwell Automation news, SVP Sujeet Chand sold 3,547 shares of the stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $176.25, for a total value of $625,158.75. Following the transaction, the senior vice president now directly owns 51,527 shares in the company, valued at approximately $9,081,633.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Blake D. Moret sold 5,584 shares of the stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $175.97, for a total value of $982,616.48. Following the completion of the transaction, the chief executive officer now owns 41,196 shares in the company, valued at $7,249,260.12. The disclosure for this sale can be found here. Insiders sold a total of 34,547 shares of company stock worth $6,070,978 over the last quarter. Corporate insiders own 1.65% of the company’s stock.

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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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