Bank of America Corp DE trimmed its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 7.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,312,954 shares of the industrial products company's stock after selling 111,652 shares during the quarter. Bank of America Corp DE owned 1.16% of Rockwell Automation worth $375,229,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. MCF Advisors LLC boosted its holdings in shares of Rockwell Automation by 95.8% in the 4th quarter. MCF Advisors LLC now owns 2,332 shares of the industrial products company's stock worth $667,000 after buying an additional 1,141 shares during the last quarter. Ameritas Advisory Services LLC grew its position in shares of Rockwell Automation by 99.1% during the 4th quarter. Ameritas Advisory Services LLC now owns 5,187 shares of the industrial products company's stock valued at $1,482,000 after acquiring an additional 2,582 shares during the period. Nordea Investment Management AB increased its stake in shares of Rockwell Automation by 5.9% during the 4th quarter. Nordea Investment Management AB now owns 462,537 shares of the industrial products company's stock worth $132,554,000 after purchasing an additional 25,882 shares during the last quarter. Signal Advisors Wealth LLC raised its holdings in shares of Rockwell Automation by 12.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 946 shares of the industrial products company's stock worth $270,000 after purchasing an additional 105 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Rockwell Automation by 357.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 37,239 shares of the industrial products company's stock valued at $10,643,000 after purchasing an additional 29,105 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. TD Cowen upgraded Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 target price on the stock in a research note on Friday. KeyCorp upped their price objective on shares of Rockwell Automation from $275.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday. Oppenheimer lifted their target price on shares of Rockwell Automation from $258.00 to $304.00 and gave the stock an "outperform" rating in a research note on Thursday. Wells Fargo & Company upped their price target on shares of Rockwell Automation from $265.00 to $315.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Loop Capital lifted their price objective on shares of Rockwell Automation from $260.00 to $280.00 and gave the company a "hold" rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $308.37.
Read Our Latest Stock Analysis on ROK
Insider Activity at Rockwell Automation
In other Rockwell Automation news, VP Isaac Woods sold 876 shares of the business's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $284.03, for a total value of $248,810.28. Following the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $300,219.71. The trade was a 45.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Terry L. Riesterer sold 850 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $300.21, for a total transaction of $255,178.50. Following the sale, the vice president now owns 1,633 shares of the company's stock, valued at approximately $490,242.93. This represents a 34.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,250 shares of company stock valued at $1,223,428. Insiders own 0.68% of the company's stock.
Rockwell Automation Price Performance
Shares of NYSE ROK traded up $3.64 during mid-day trading on Friday, reaching $294.88. 1,024,672 shares of the company were exchanged, compared to its average volume of 869,455. Rockwell Automation, Inc. has a 52 week low of $215.00 and a 52 week high of $308.70. The company's 50 day moving average price is $251.89 and its 200 day moving average price is $273.77. The stock has a market capitalization of $33.34 billion, a PE ratio of 36.72, a PEG ratio of 3.53 and a beta of 1.32. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.72.
Rockwell Automation (NYSE:ROK - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.09 by $0.36. The firm had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.97 billion. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. The company's revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.50 EPS. Sell-side analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.
Rockwell Automation Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $1.31 dividend. The ex-dividend date is Monday, May 19th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.78%. Rockwell Automation's dividend payout ratio (DPR) is 65.99%.
About Rockwell Automation
(
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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