Bank of America Corp DE Has $375.67 Million Holdings in Rockwell Automation, Inc. $ROK

Key Points

• Bank of America reduced its Rockwell Automation stake by 14.8% in the first quarter, selling 181,406 shares and retaining 1.05 million shares valued at approximately $375.7 million. Institutional investors own 75.75% of the company.
• Rockwell Automation reported quarterly earnings of $3.30 per share on $2.24 billion in revenue, exceeding estimates and marking 11.9% year-over-year revenue growth. Analysts maintain an average “Hold” rating with a $469.33 price target.
• The company declared a quarterly dividend of $1.38, representing a 1.1% yield, and authorized a $1 billion share-repurchase program covering up to 2% of outstanding shares.

Bank of America Corp DE trimmed its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 14.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,046,789 shares of the industrial products company's stock after selling 181,406 shares during the period. Bank of America Corp DE owned approximately 0.94% of Rockwell Automation worth $375,672,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ROK. Richards Merrill & Peterson Inc. increased its stake in shares of Rockwell Automation by 1.9% in the 1st quarter. Richards Merrill & Peterson Inc. now owns 1,358 shares of the industrial products company's stock valued at $487,000 after buying an additional 25 shares during the period. Cidel Asset Management Inc. boosted its holdings in Rockwell Automation by 4.6% in the first quarter. Cidel Asset Management Inc. now owns 574 shares of the industrial products company's stock valued at $206,000 after acquiring an additional 25 shares during the last quarter. HBK Sorce Advisory LLC increased its position in Rockwell Automation by 0.7% in the fourth quarter. HBK Sorce Advisory LLC now owns 3,719 shares of the industrial products company's stock worth $1,544,000 after purchasing an additional 27 shares during the period. Johnson Investment Counsel Inc. increased its position in Rockwell Automation by 1.9% in the fourth quarter. Johnson Investment Counsel Inc. now owns 1,412 shares of the industrial products company's stock worth $549,000 after purchasing an additional 27 shares during the period. Finally, Nations Financial Group Inc. IA ADV raised its holdings in Rockwell Automation by 2.0% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 1,446 shares of the industrial products company's stock worth $563,000 after purchasing an additional 28 shares during the last quarter. 75.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ROK. BNP Paribas Exane upped their target price on shares of Rockwell Automation from $495.00 to $515.00 in a research report on Wednesday, May 6th. KeyCorp boosted their price target 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. Wells Fargo & Company increased their price objective on shares of Rockwell Automation from $360.00 to $440.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. Mizuho set a $445.00 price objective on shares of Rockwell Automation in a research note on Wednesday, May 6th. Finally, Wall Street Zen lowered shares of Rockwell Automation from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Nine research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, Rockwell Automation presently has an average rating of "Hold" and an average target price of $469.33.

Rockwell Automation Trading Up 0.3%

ROK opened at $481.31 on Monday. The firm's fifty day moving average is $465.17 and its two-hundred day moving average is $424.27. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.76 and a current ratio of 1.09. The firm has a market cap of $53.56 billion, a PE ratio of 50.03, a price-to-earnings-growth ratio of 2.84 and a beta of 1.54. Rockwell Automation, Inc. has a twelve month low of $305.44 and a twelve month high of $497.36.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The industrial products company reported $3.30 earnings per share for the quarter, topping analysts' consensus estimates of $2.88 by $0.42. The company had revenue of $2.24 billion for the quarter, compared to analysts' expectations of $2.16 billion. Rockwell Automation had a net margin of 12.36% and a return on equity of 37.54%. The business's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $2.45 earnings per share. Rockwell Automation has set its FY 2026 guidance at 12.500-13.100 EPS. Equities research analysts anticipate that Rockwell Automation, Inc. will post 13.06 EPS for the current year.

Rockwell Automation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, August 17th. Rockwell Automation's dividend payout ratio is 57.38%.

Rockwell Automation announced that its board has approved a stock repurchase plan on Tuesday, June 9th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Insider Activity at Rockwell Automation

In related news, VP Scott Genereux sold 550 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $447.73, for a total transaction of $246,251.50. Following the completion of the sale, the vice president directly owned 2,764 shares of the company's stock, valued at approximately $1,237,525.72. This represents a 16.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christopher Nardecchia sold 2,538 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $446.43, for a total transaction of $1,133,039.34. Following the sale, the senior vice president owned 14,232 shares in the company, valued at $6,353,591.76. This trade represents a 15.13% 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. Insiders have sold a total of 9,361 shares of company stock valued at $4,189,886 over the last 90 days. Insiders own 0.76% of the company's stock.

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.

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