AlphaCore Capital LLC Buys Shares of 1,448 Rockwell Automation, Inc. (NYSE:ROK)

Key Points

• AlphaCore Capital LLC acquired a new stake in Rockwell Automation, purchasing 1,448 shares valued at approximately $374,000 in the first quarter of the year.
• Rockwell Automation reported a quarterly earnings per share (EPS) of $2.82, exceeding analysts' expectations by $0.15, with a revenue of $2.14 billion indicating a 4.5% year-over-year increase.
• The company announced a quarterly dividend of $1.31, representing a 1.6% yield, with a payout ratio of 65.99%.

AlphaCore Capital LLC bought a new stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,448 shares of the industrial products company's stock, valued at approximately $374,000.

A number of other institutional investors also recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Rockwell Automation by 9.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 355,182 shares of the industrial products company's stock valued at $91,772,000 after purchasing an additional 31,772 shares in the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of Rockwell Automation by 422.0% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 4,531 shares of the industrial products company's stock valued at $1,171,000 after purchasing an additional 3,663 shares in the last quarter. Deutsche Bank AG raised its position in shares of Rockwell Automation by 1.8% in the 1st quarter. Deutsche Bank AG now owns 460,405 shares of the industrial products company's stock valued at $118,959,000 after purchasing an additional 7,958 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Rockwell Automation by 0.6% in the 1st 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 in the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new position in shares of Rockwell Automation in the 1st quarter valued at approximately $6,818,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Trading Up 0.3%

NYSE:ROK opened at $333.67 on Friday. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $360.92. The stock has a market cap of $37.51 billion, a price-to-earnings ratio of 39.16, a PEG ratio of 3.39 and a beta of 1.39. The business has a fifty day moving average of $336.92 and a 200-day moving average of $294.26. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.06.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its quarterly earnings results 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 company had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.07 billion. During the same quarter in the prior year, the business posted $2.71 earnings per share. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be issued a $1.31 dividend. The ex-dividend date is Monday, August 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.6%. Rockwell Automation's dividend payout ratio is 65.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Oppenheimer cut their target price on Rockwell Automation from $371.00 to $363.00 and set an "outperform" rating on the stock in a research report on Thursday. Citigroup reissued a "buy" rating and set a $392.00 price target (up from $371.00) on shares of Rockwell Automation in a research report on Monday, July 14th. Bank of America raised Rockwell Automation from a "neutral" rating to a "buy" rating and upped their price target for the company from $360.00 to $410.00 in a research report on Wednesday, July 16th. TD Cowen raised Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 price target on the stock in a research report on Friday, May 9th. Finally, Stephens reissued an "overweight" rating and set a $375.00 price target (up from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $339.47.

Insiders Place Their Bets

In other news, VP Isaac Woods sold 297 shares of the company'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 $96,914.07. Following the completion of the sale, the vice president owned 1,691 shares in the company, valued at $551,790.21. This represents a 14.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Matheus De A. G. Viera Bulho sold 526 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $325.35, for a total value of $171,134.10. Following the completion of the sale, the senior vice president owned 983 shares of the company's stock, valued at approximately $319,819.05. This trade represents a 34.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,257 shares of company stock valued at $2,990,715. 0.68% of the stock is currently owned by insiders.

Rockwell Automation Profile

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.