Caisse DE Depot ET Placement DU Quebec Acquires New Stake in Rockwell Automation, Inc. $ROK

Key Points

• Caisse DE Depot ET Placement DU Quebec has invested approximately $11.45 million to acquire 44,306 shares of Rockwell Automation, Inc. ($ROK).
• Rockwell Automation recently reported strong earnings, with $2.82 EPS for the quarter, exceeding expectations and a 4.5% increase in revenue year-over-year.
• The company announced a quarterly dividend of $1.31, representing a 1.5% dividend yield with a payout ratio of 61.50%.

Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 44,306 shares of the industrial products company's stock, valued at approximately $11,448,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Citizens National Bank Trust Department acquired a new stake in Rockwell Automation in the 1st quarter valued at $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Rockwell Automation in the 1st quarter valued at $31,000. IMA Advisory Services Inc. acquired a new stake in Rockwell Automation in the 1st quarter valued at $32,000. Cooksen Wealth LLC acquired a new stake in Rockwell Automation in the 1st quarter valued at $34,000. Finally, Parvin Asset Management LLC acquired a new stake in Rockwell Automation during the 4th quarter worth $36,000. Institutional investors and hedge funds own 75.75% of the company's stock.

Rockwell Automation Price Performance

NYSE:ROK traded down $5.33 during trading hours on Monday, hitting $343.80. The company's stock had a trading volume of 697,281 shares, compared to its average volume of 1,087,152. The business's 50-day moving average is $343.94 and its two-hundred day moving average is $300.77. The company has a market capitalization of $38.66 billion, a PE ratio of 40.35, a PEG ratio of 3.53 and a beta of 1.41. 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, Inc. has a 52-week low of $215.00 and a 52-week high of $360.92.

Rockwell Automation (NYSE:ROK - Get Free Report) last released 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. The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.07 billion. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.Rockwell Automation's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.71 earnings per share. As a group, research analysts anticipate that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently announced 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 yield of 1.5%. Rockwell Automation's dividend payout ratio is 61.50%.

Wall Street Analyst Weigh In

ROK has been the topic of several recent research reports. Stephens reaffirmed an "overweight" rating and set a $375.00 target price (up previously from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price target on Rockwell Automation from $271.00 to $299.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Bank of America upgraded shares of Rockwell Automation from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $360.00 to $410.00 in a report on Wednesday, July 16th. Wall Street Zen upgraded shares of Rockwell Automation from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Loop Capital boosted their price target on shares of Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Thursday, May 15th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $340.16.

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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Terry L. Riesterer sold 269 shares of the company's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $355.26, for a total value of $95,564.94. Following the completion of the sale, the vice president directly owned 1,613 shares in the company, valued at $573,034.38. This trade represents a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,145 shares of company stock valued at $2,801,114 in the last three months. 0.68% of the stock is owned by insiders.

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.