Advisors Capital Management LLC Makes New Investment in Rockwell Automation, Inc. $ROK

Advisors Capital Management LLC acquired a new stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,531 shares of the industrial products company's stock, valued at approximately $1,254,000.

Several other institutional investors have also modified their holdings of ROK. Vanguard Group Inc. increased its position in shares of Rockwell Automation by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,206,311 shares of the industrial products company's stock worth $5,527,249,000 after purchasing an additional 114,469 shares in the last quarter. BlackRock Inc. purchased a new position in Rockwell Automation in the 2nd quarter valued at $6,129,376,000. State Street Corp boosted its stake in Rockwell Automation by 4.2% during the 4th quarter. State Street Corp now owns 4,996,130 shares of the industrial products company's stock worth $1,943,844,000 after purchasing an additional 202,705 shares during the last quarter. Geode Capital Management LLC boosted its stake in Rockwell Automation by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,924,501 shares of the industrial products company's stock worth $1,133,397,000 after purchasing an additional 17,855 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Rockwell Automation by 10.4% during the 4th quarter. Morgan Stanley now owns 2,921,840 shares of the industrial products company's stock worth $1,136,801,000 after purchasing an additional 276,021 shares during the last quarter. Institutional investors and hedge funds own 75.75% of the company's stock.

Insider Activity at Rockwell Automation

In other news, SVP Matthew W. Fordenwalt sold 377 shares of the company's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $460.51, for a total transaction of $173,612.27. Following the sale, the senior vice president owned 4,437 shares of the company's stock, valued at approximately $2,043,282.87. This represents a 7.83% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christian E. Rothe sold 590 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $434.30, for a total value of $256,237.00. Following the completion of the sale, the chief financial officer owned 10,429 shares in the company, valued at approximately $4,529,314.70. The trade was a 5.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 1,185 shares of company stock worth $529,331. 0.76% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on ROK. JPMorgan Chase & Co. raised their price target on shares of Rockwell Automation from $404.00 to $417.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. BNP Paribas Exane increased their price objective on shares of Rockwell Automation from $495.00 to $515.00 in a report on Wednesday, May 6th. KeyCorp raised their target price on shares of Rockwell Automation from $470.00 to $510.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Zacks Research cut Rockwell Automation from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 30th. Finally, HSBC upped their price target on Rockwell Automation from $445.00 to $490.00 in a research report on Wednesday, May 6th. Nine equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $468.19.

Rockwell Automation Stock Up 1.4%

NYSE:ROK opened at $437.50 on Friday. Rockwell Automation, Inc. has a 52 week low of $332.71 and a 52 week high of $497.36. The stock's fifty day moving average is $461.98 and its two-hundred day moving average is $427.00. The stock has a market capitalization of $48.58 billion, a price-to-earnings ratio of 41.00, a price-to-earnings-growth ratio of 2.52 and a beta of 1.54. The company has a quick ratio of 0.74, a current ratio of 1.08 and a debt-to-equity ratio of 0.74.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $3.49 earnings per share for the quarter, beating analysts' consensus estimates of $3.38 by $0.11. Rockwell Automation had a return on equity of 39.83% and a net margin of 13.39%.The business had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.24 billion. During the same period in the previous year, the firm posted $2.82 earnings per share. The company's revenue was up 7.9% on a year-over-year basis. Rockwell Automation has set its FY 2026 guidance at 13.000-13.300 EPS. Research analysts anticipate that Rockwell Automation, Inc. will post 13.22 EPS for the current year.

Rockwell Automation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be issued a $1.38 dividend. The ex-dividend date is Monday, August 17th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.3%. Rockwell Automation's payout ratio is 51.73%.

Rockwell Automation declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, June 9th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

About Rockwell Automation

Rockwell Automation is a global industrial automation and digital transformation company headquartered in Milwaukee, Wisconsin. The firm designs, manufactures and supports control systems, industrial control hardware and software, and related services that help manufacturers and industrial operators automate processes, improve productivity and enable data-driven decision making. Rockwell traces its heritage to the Allen-Bradley and Rockwell automation businesses and positions itself as a provider of integrated automation solutions across discrete and process industries.

The company's product portfolio includes programmable logic controllers (PLCs), human-machine interfaces (HMIs), variable frequency drives, sensors, safety components and other industrial control hardware, often marketed under the Allen-Bradley brand.

Want to see what other hedge funds are holding ROK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rockwell Automation, Inc. (NYSE:ROK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source