Westend Capital Management LLC Acquires Shares of 25,141 Rockwell Automation, Inc. (NYSE:ROK)

Westend Capital Management LLC purchased a new stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 25,141 shares of the industrial products company's stock, valued at approximately $6,496,000. Rockwell Automation makes up approximately 2.5% of Westend Capital Management LLC's holdings, making the stock its 19th biggest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in Rockwell Automation in the 4th quarter worth about $35,000. Parvin Asset Management LLC acquired a new position in Rockwell Automation in the 4th quarter worth about $36,000. Flagship Wealth Advisors LLC acquired a new position in Rockwell Automation in the 4th quarter worth about $38,000. Knuff & Co LLC increased its position in Rockwell Automation by 41.0% in the 4th quarter. Knuff & Co LLC now owns 141 shares of the industrial products company's stock worth $40,000 after purchasing an additional 41 shares during the last quarter. Finally, Accredited Wealth Management LLC acquired a new position in Rockwell Automation in the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 75.75% of the company's stock.

Analysts Set New Price Targets

ROK has been the topic of several research reports. BNP Paribas raised Rockwell Automation from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 9th. Barclays raised Rockwell Automation from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $283.00 to $350.00 in a research report on Friday, May 30th. Wells Fargo & Company upped their target price on Rockwell Automation from $265.00 to $315.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Oppenheimer increased their price objective on Rockwell Automation from $258.00 to $304.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, KeyCorp reissued an "overweight" rating and issued a $360.00 price objective (up from $345.00) on shares of Rockwell Automation in a research note on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Rockwell Automation presently has a consensus rating of "Moderate Buy" and an average target price of $317.79.

Insider Transactions at Rockwell Automation

In related news, SVP Christopher Nardecchia sold 551 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $326.31, for a total value of $179,796.81. Following the completion of the transaction, the senior vice president now directly owns 12,711 shares of the company's stock, valued at $4,147,726.41. This trade represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Matthew W. Fordenwalt sold 223 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $313.97, for a total value of $70,015.31. Following the completion of the transaction, the senior vice president now directly owns 3,209 shares of the company's stock, valued at approximately $1,007,529.73. This trade represents a 6.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,681 shares of company stock worth $2,382,987. Insiders own 0.68% of the company's stock.

Rockwell Automation Stock Performance

ROK stock traded up $3.82 during midday trading on Friday, hitting $330.03. 940,246 shares of the company traded hands, compared to its average volume of 858,238. The business has a 50 day simple moving average of $297.84 and a 200-day simple moving average of $281.74. The stock has a market capitalization of $37.20 billion, a price-to-earnings ratio of 41.57, a price-to-earnings-growth ratio of 3.83 and a beta of 1.38. The company has a quick ratio of 0.72, a current ratio of 1.05 and a debt-to-equity ratio of 0.71. Rockwell Automation, Inc. has a twelve month low of $215.00 and a twelve month high of $331.27.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.36. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. Rockwell Automation's quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the company posted $2.50 earnings per share. As a group, equities research analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be paid a $1.31 dividend. The ex-dividend date is Monday, August 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.59%. Rockwell Automation's payout ratio is 65.99%.

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.