Alliancebernstein L.P. Has $302.47 Million Stock Holdings in Rockwell Automation, Inc. $ROK

Key Points

• Alliancebernstein L.P. has reduced its position in Rockwell Automation by 9.1%, now owning about 1.04% of the company's shares worth approximately $302 million.
• Analysts have set varied price targets for Rockwell Automation, with Wells Fargo setting a target of $345 and KeyCorp raising it to $380, reflecting mixed outlooks on the stock.
• Rockwell Automation announced a quarterly dividend of $1.31 per share, showing a 1.5% yield and a payout ratio of 61.50%.

Alliancebernstein L.P. reduced its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 9.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,170,651 shares of the industrial products company's stock after selling 117,080 shares during the quarter. Alliancebernstein L.P. owned about 1.04% of Rockwell Automation worth $302,473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its position in Rockwell Automation by 11.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,819,379 shares of the industrial products company's stock valued at $470,091,000 after purchasing an additional 191,370 shares during the period. Charles Schwab Investment Management Inc. raised its position in Rockwell Automation by 0.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,579,956 shares of the industrial products company's stock valued at $408,229,000 after purchasing an additional 9,920 shares during the period. Invesco Ltd. raised its position in Rockwell Automation by 2.2% in the first quarter. Invesco Ltd. now owns 1,448,160 shares of the industrial products company's stock valued at $374,176,000 after purchasing an additional 30,837 shares during the period. Northern Trust Corp increased its position in shares of Rockwell Automation by 0.4% during the first quarter. Northern Trust Corp now owns 1,396,303 shares of the industrial products company's stock worth $360,777,000 after acquiring an additional 4,972 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Rockwell Automation by 2.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,158,161 shares of the industrial products company's stock worth $330,991,000 after acquiring an additional 29,350 shares during the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ROK has been the topic of a number of analyst reports. Barclays lifted their target price on Rockwell Automation from $357.00 to $370.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Wells Fargo & Company set a $345.00 price target on Rockwell Automation and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Citigroup reiterated a "buy" rating and issued a $392.00 price target (up from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. Loop Capital lifted their price target on Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Thursday, May 15th. Finally, KeyCorp lifted their price target on Rockwell Automation from $370.00 to $380.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.16.

Rockwell Automation Stock Performance

ROK stock traded down $2.61 during midday trading on Friday, reaching $339.26. The company had a trading volume of 539,564 shares, compared to its average volume of 831,771. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.72. The stock has a 50 day moving average price of $345.38 and a 200 day moving average price of $302.21. Rockwell Automation, Inc. has a fifty-two week low of $215.00 and a fifty-two week high of $360.92. The firm has a market capitalization of $38.14 billion, a PE ratio of 39.82, a P/E/G ratio of 3.50 and a beta of 1.41.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.15. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the firm posted $2.71 earnings per share. The business's revenue was up 4.5% on a year-over-year basis. Analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be issued a $1.31 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.5%. Rockwell Automation's dividend payout ratio is currently 61.50%.

Insider Buying and Selling

In other Rockwell Automation news, Director James P. Keane sold 3,000 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $356.06, for a total value of $1,068,180.00. Following the transaction, the director owned 9,192 shares of the company's stock, valued at approximately $3,272,903.52. This represents a 24.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Cyril Perducat sold 1,435 shares of Rockwell Automation stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $348.08, for a total transaction of $499,494.80. Following the transaction, the senior vice president owned 3,787 shares in the company, valued at approximately $1,318,178.96. The trade was a 27.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,445 shares of company stock valued at $3,267,779 in the last three months. Insiders own 0.68% of the company's stock.

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.