AIA Group Ltd Sells 3,453 Shares of Rockwell Automation, Inc. $ROK

Key Points

• AIA Group cut its Rockwell Automation stake by 20.8%, selling 3,453 shares and retaining 13,146 shares valued at about $5.72 million.
• Rockwell reported quarterly earnings of $3.49 per share, topping estimates of $3.38, while revenue rose 7.9% year over year to $2.31 billion. It also raised its quarterly dividend from $1.38 to $1.45 per share.
• Analyst views are mixed but lean toward a Hold: nine analysts rate the stock Buy and 13 rate it Hold, with a consensus price target of $468.

AIA Group Ltd reduced its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 20.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,146 shares of the industrial products company's stock after selling 3,453 shares during the period. AIA Group Ltd's holdings in Rockwell Automation were worth $5,723,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ROK. Castle Rock Wealth Management LLC raised its holdings in shares of Rockwell Automation by 2.2% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 1,038 shares of the industrial products company's stock worth $501,000 after buying an additional 22 shares in the last quarter. Apella Capital LLC raised its holdings in Rockwell Automation by 0.9% during the 2nd quarter. Apella Capital LLC now owns 3,261 shares of the industrial products company's stock worth $1,529,000 after purchasing an additional 28 shares during the last quarter. Finivi Inc. increased its stake in shares of Rockwell Automation by 1.0% in the 2nd quarter. Finivi Inc. now owns 2,935 shares of the industrial products company's stock valued at $1,453,000 after acquiring an additional 30 shares during the last quarter. Uncommon Cents Investing Inc lifted its holdings in shares of Rockwell Automation by 1.0% during the 3rd quarter. Uncommon Cents Investing Inc now owns 3,130 shares of the industrial products company's stock valued at $1,363,000 after purchasing an additional 30 shares in the last quarter. Finally, Focus Financial Network Inc. grew its holdings in shares of Rockwell Automation by 1.8% during the second quarter. Focus Financial Network Inc. now owns 1,806 shares of the industrial products company's stock worth $894,000 after buying an additional 32 shares in the last quarter. Institutional investors own 75.75% of the company's stock.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, CFO Christian Rothe sold 590 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $434.30, for a total transaction of $256,237.00. Following the transaction, the chief financial officer directly owned 10,429 shares in the company, valued at $4,529,314.70. This trade represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. Also, VP Isaac Woods sold 154 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $432.62, for a total transaction of $66,623.48. Following the completion of the sale, the vice president owned 1,858 shares of the company's stock, valued at approximately $803,807.96. The trade was a 7.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 2,711 shares of company stock valued at $1,164,880 over the last 90 days. Company insiders own 0.76% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ROK shares. The Goldman Sachs Group reduced their price target on Rockwell Automation from $510.00 to $485.00 and set a "neutral" rating for the company in a report on Wednesday, September 30th. Weiss Ratings raised Rockwell Automation from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, October 26th. DA Davidson reduced their price objective on shares of Rockwell Automation from $500.00 to $490.00 and set a "neutral" rating on the stock in a research note on Friday, August 21st. Wells Fargo & Company started coverage on shares of Rockwell Automation in a research note on Thursday, September 24th. They issued an "equal weight" rating and a $426.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Rockwell Automation from $469.00 to $500.00 and gave the stock a "hold" rating in a report on Wednesday, September 30th. Nine analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $468.00.

Rockwell Automation Price Performance

Shares of NYSE ROK opened at $444.20 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.74 and a current ratio of 1.08. The stock has a market cap of $49.33 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 2.12 and a beta of 1.51. Rockwell Automation, Inc. has a fifty-two week low of $347.53 and a fifty-two week high of $497.36. The stock has a fifty day moving average of $431.58 and a 200-day moving average of $427.64.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.38 by $0.11. The firm had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.24 billion. Rockwell Automation had a return on equity of 39.83% and a net margin of 13.39%. The company's revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.82 earnings per share. Equities research analysts anticipate that Rockwell Automation, Inc. will post 13.26 earnings per share for the current year.

Rockwell Automation Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Monday, November 16th will be given a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 1.3%. This is a boost from Rockwell Automation's previous quarterly dividend of $1.38. The ex-dividend date is Monday, November 16th. Rockwell Automation's dividend payout ratio (DPR) is presently 51.73%.

Rockwell Automation Profile

Rockwell Automation, Inc NYSE: ROK is a global provider of industrial automation and digital transformation technologies. The company helps manufacturers and industrial organizations improve productivity, safety, quality and operational efficiency through connected hardware, software and services.

Its product portfolio includes industrial control systems, programmable logic controllers, motor control and sensing equipment, industrial computers, safety products, networking technologies and power-control solutions.

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