Balyasny Asset Management L.P. lowered its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 96.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,117 shares of the industrial products company's stock after selling 188,113 shares during the period. Balyasny Asset Management L.P.'s holdings in Rockwell Automation were worth $1,748,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Rockwell Automation by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 13,876,530 shares of the industrial products company's stock worth $3,965,774,000 after purchasing an additional 81,079 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Rockwell Automation by 6.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,115,280 shares of the industrial products company's stock worth $2,033,476,000 after purchasing an additional 432,934 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Rockwell Automation by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 2,734,430 shares of the industrial products company's stock worth $779,426,000 after purchasing an additional 51,228 shares in the last quarter. Amundi boosted its position in Rockwell Automation by 26.2% during the fourth quarter. Amundi now owns 2,073,594 shares of the industrial products company's stock worth $580,095,000 after acquiring an additional 430,498 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Rockwell Automation by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,570,036 shares of the industrial products company's stock worth $448,701,000 after acquiring an additional 13,744 shares during the last quarter. Hedge funds and other institutional investors own 75.75% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. BNP Paribas upgraded shares of Rockwell Automation from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 9th. JPMorgan Chase & Co. upgraded shares of Rockwell Automation from an "underweight" rating to a "neutral" rating and boosted their price target for the stock from $201.00 to $271.00 in a research report on Thursday, May 8th. Oppenheimer boosted their price target on shares of Rockwell Automation from $258.00 to $304.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Barclays boosted their price target on shares of Rockwell Automation from $260.00 to $283.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Finally, KeyCorp boosted their target price on shares of Rockwell Automation from $275.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $308.37.
Check Out Our Latest Analysis on ROK
Rockwell Automation Stock Performance
Shares of ROK stock opened at $299.79 on Tuesday. The firm's 50 day moving average price is $252.41 and its 200-day moving average price is $274.02. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.08. Rockwell Automation, Inc. has a one year low of $215.00 and a one year high of $308.70. The firm has a market cap of $33.90 billion, a P/E ratio of 37.33, a P/E/G ratio of 3.53 and a beta of 1.32.
Rockwell Automation (NYSE:ROK - Get Free Report) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.36. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the firm earned $2.50 EPS. The firm's revenue for the quarter was down 5.9% on a year-over-year basis. As a group, equities research analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current year.
Rockwell Automation Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Monday, May 19th. Rockwell Automation's dividend payout ratio is presently 65.99%.
Insider Buying and Selling at Rockwell Automation
In other news, SVP Matheus De A. G. Viera Bulho sold 293 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $257.68, for a total value of $75,500.24. Following the completion of the transaction, the senior vice president now owns 1,922 shares in the company, valued at approximately $495,260.96. This represents a 13.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Terry L. Riesterer sold 2,500 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $304.13, for a total transaction of $760,325.00. Following the completion of the transaction, the vice president now owns 1,033 shares of the company's stock, valued at approximately $314,166.29. The trade was a 70.76% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,689 shares of company stock valued at $2,269,435. Insiders own 0.68% of the company's stock.
Rockwell Automation Profile
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Free Report)
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.
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