Rockwell Automation (ROK) Shares Bought by Tower Research Capital LLC TRC
Tower Research Capital LLC TRC increased its holdings in Rockwell Automation (NYSE:ROK) by 3,463.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,708 shares of the industrial products company’s stock after buying an additional 2,632 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Rockwell Automation were worth $532,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ROK. Cerebellum GP LLC bought a new stake in Rockwell Automation in the 4th quarter worth about $130,000. Valeo Financial Advisors LLC bought a new stake in Rockwell Automation in the 3rd quarter worth about $131,000. Rockefeller Financial Services Inc. bought a new stake in Rockwell Automation in the 3rd quarter worth about $143,000. Kohmann Bosshard Financial Services LLC bought a new stake in Rockwell Automation in the 3rd quarter worth about $186,000. Finally, Foundry Partners LLC bought a new stake in shares of Rockwell Automation during the 3rd quarter valued at about $200,000. Institutional investors own 73.24% of the company’s stock.
Rockwell Automation (NYSE ROK) opened at $181.76 on Friday. Rockwell Automation has a 12-month low of $148.31 and a 12-month high of $210.72. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.73 and a current ratio of 1.98. The firm has a market capitalization of $23,230.00, a PE ratio of 27.54, a PEG ratio of 2.09 and a beta of 1.21.
Rockwell Automation declared that its board has approved a share buyback program on Wednesday, January 24th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.835 per share. The ex-dividend date was Friday, February 16th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 1.84%. Rockwell Automation’s payout ratio is currently 50.61%.
In related news, SVP Frank C. Kulaszewicz sold 43,100 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $177.68, for a total value of $7,658,008.00. Following the transaction, the senior vice president now directly owns 35,338 shares of the company’s stock, valued at approximately $6,278,855.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP David M. Dorgan sold 10,400 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $202.41, for a total value of $2,105,064.00. Following the completion of the transaction, the vice president now directly owns 12,853 shares in the company, valued at $2,601,575.73. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 123,627 shares of company stock worth $23,604,488. Insiders own 1.65% of the company’s stock.
ROK has been the subject of a number of recent research reports. Wells Fargo & Co boosted their price target on Rockwell Automation from $190.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, January 25th. Wolfe Research upgraded Rockwell Automation from a “market perform” rating to an “outperform” rating in a research note on Monday, November 20th. Daiwa Capital Markets initiated coverage on Rockwell Automation in a research note on Wednesday, December 20th. They set a “neutral” rating and a $199.00 price target for the company. Morgan Stanley boosted their price target on Rockwell Automation from $194.00 to $206.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Finally, ValuEngine downgraded Rockwell Automation from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. Rockwell Automation has an average rating of “Hold” and an average price target of $190.00.
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Rockwell Automation Company Profile
Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.
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