KG&L Capital Management LLC Has $628,000 Holdings in Rockwell Automation, Inc. (NYSE:ROK)

KG&L Capital Management LLC raised its position in Rockwell Automation, Inc. (NYSE:ROK) by 32.2% in the third quarter, HoldingsChannel reports. The fund owned 2,341 shares of the industrial products company’s stock after purchasing an additional 570 shares during the quarter. KG&L Capital Management LLC’s holdings in Rockwell Automation were worth $628,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC raised its stake in shares of Rockwell Automation by 3.0% during the 1st quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock valued at $372,000 after purchasing an additional 37 shares during the period. Mather Group LLC. raised its stake in shares of Rockwell Automation by 5.9% during the 2nd quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock valued at $198,000 after purchasing an additional 38 shares during the period. Pure Financial Advisors LLC raised its stake in shares of Rockwell Automation by 2.7% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock valued at $444,000 after purchasing an additional 42 shares during the period. Pitcairn Co. raised its stake in shares of Rockwell Automation by 4.2% during the 1st quarter. Pitcairn Co. now owns 1,096 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 44 shares during the period. Finally, Hancock Whitney Corp raised its stake in shares of Rockwell Automation by 2.5% during the 1st quarter. Hancock Whitney Corp now owns 1,805 shares of the industrial products company’s stock valued at $526,000 after purchasing an additional 44 shares during the period. Institutional investors and hedge funds own 75.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ROK shares. JPMorgan Chase & Co. decreased their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Oppenheimer upped their target price on Rockwell Automation from $270.00 to $288.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Bank of America upped their target price on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. TD Cowen decreased their target price on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Finally, Robert W. Baird decreased their target price on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $281.93.

Rockwell Automation Price Performance

ROK opened at $268.72 on Monday. The stock has a 50-day moving average price of $266.02 and a 200-day moving average price of $266.50. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $312.76. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $30.49 billion, a P/E ratio of 30.54, a PEG ratio of 4.64 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last issued its 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. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. Rockwell Automation’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.01 EPS. Equities analysts predict that Rockwell Automation, Inc. will post 9.65 earnings per share for the current fiscal year.

Rockwell Automation Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, November 18th. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a yield of 1.95%. Rockwell Automation’s dividend payout ratio is currently 56.82%.

Rockwell Automation announced that its Board of Directors has authorized a stock repurchase plan on Thursday, September 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.