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S Bank Fund Management Ltd Invests $5.35 Million in Rockwell Automation, Inc. (NYSE:ROK)

Rockwell Automation logo with Computer and Technology background

Key Points

  • S Bank Fund Management Ltd purchased 20,721 shares of Rockwell Automation, valued at approximately $5.35 million, marking a new investment position in the company.
  • Total institutional ownership of Rockwell Automation stands at 75.75%, highlighting strong institutional interest in the stock.
  • Rockwell Automation has received several upgrades and price target increases from analysts, with Bank of America raising its target price from $360 to $410.
  • Want stock alerts on Rockwell Automation? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

S Bank Fund Management Ltd bought a new position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 20,721 shares of the industrial products company's stock, valued at approximately $5,354,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Bank Pictet & Cie Europe AG boosted its position in shares of Rockwell Automation by 0.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company's stock worth $1,199,000 after buying an additional 38 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Rockwell Automation by 0.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company's stock worth $1,462,000 after acquiring an additional 43 shares in the last quarter. Wealthfront Advisers LLC lifted its stake in shares of Rockwell Automation by 0.6% in the first quarter. Wealthfront Advisers LLC now owns 7,708 shares of the industrial products company's stock worth $1,992,000 after acquiring an additional 43 shares in the last quarter. Kelly Financial Services LLC lifted its stake in shares of Rockwell Automation by 4.4% in the first quarter. Kelly Financial Services LLC now owns 1,096 shares of the industrial products company's stock worth $283,000 after acquiring an additional 46 shares in the last quarter. Finally, Koshinski Asset Management Inc. lifted its stake in shares of Rockwell Automation by 1.1% in the first quarter. Koshinski Asset Management Inc. now owns 4,097 shares of the industrial products company's stock worth $1,059,000 after acquiring an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company's stock.

Insider Activity

In other news, SVP Matheus De A. G. Viera Bulho sold 526 shares of Rockwell Automation stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $325.35, for a total transaction of $171,134.10. Following the transaction, the senior vice president directly owned 983 shares in the company, valued at approximately $319,819.05. This trade represents a 34.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Christopher Nardecchia sold 551 shares of Rockwell Automation stock in a transaction on Monday, June 9th. The shares were sold at an average price of $326.31, for a total value of $179,796.81. Following the transaction, the senior vice president owned 12,711 shares in the company, valued at approximately $4,147,726.41. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,818 shares of company stock worth $1,944,708 in the last quarter. 0.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. KeyCorp upped their price objective on Rockwell Automation from $370.00 to $380.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Stephens restated an "overweight" rating and set a $375.00 price objective (up previously from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. TD Cowen upgraded Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 price objective on the stock in a research note on Friday, May 9th. Bank of America upgraded Rockwell Automation from a "neutral" rating to a "buy" rating and upped their price objective for the company from $360.00 to $410.00 in a research note on Wednesday, July 16th. Finally, Barclays set a $370.00 price objective on Rockwell Automation and gave the company an "overweight" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Rockwell Automation presently has a consensus rating of "Moderate Buy" and a consensus price target of $340.16.

Check Out Our Latest Report on Rockwell Automation

Rockwell Automation Stock Performance

ROK stock traded down $4.56 on Friday, reaching $342.95. The company's stock had a trading volume of 959,552 shares, compared to its average volume of 948,992. Rockwell Automation, Inc. has a 52 week low of $215.00 and a 52 week high of $360.92. The company has a market capitalization of $38.56 billion, a P/E ratio of 40.25, a price-to-earnings-growth ratio of 3.59 and a beta of 1.39. The firm has a fifty day moving average of $338.78 and a two-hundred day moving average of $295.70. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.67 by $0.15. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the firm posted $2.71 EPS. Rockwell Automation's revenue was up 4.5% compared to the same quarter last year. As a group, analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be paid a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation's dividend payout ratio (DPR) is presently 61.50%.

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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Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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