Candriam S.C.A. Has $51.88 Million Stock Position in Rockwell Automation, Inc. $ROK

Key Points

• Candriam S.C.A. reduced its stake in Rockwell Automation by 2.8%, holding approximately $51.88 million in shares after selling 5,689 shares in the first quarter.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Rockwell Automation, with price targets raised from various firms, including Citigroup's new target of $392.00.
• Rockwell Automation reported a quarterly EPS of $2.82, exceeding estimates, and declared a quarterly dividend of $1.31 per share, reflecting a yield of 1.5%.

Candriam S.C.A. reduced its stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 200,774 shares of the industrial products company's stock after selling 5,689 shares during the quarter. Candriam S.C.A. owned about 0.18% of Rockwell Automation worth $51,876,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ROK. Citizens National Bank Trust Department purchased a new position in Rockwell Automation during the first quarter worth about $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Rockwell Automation in the first quarter valued at about $31,000. IMA Advisory Services Inc. acquired a new stake in shares of Rockwell Automation in the first quarter valued at about $32,000. Cooksen Wealth LLC acquired a new stake in shares of Rockwell Automation in the first quarter valued at about $34,000. Finally, Parvin Asset Management LLC acquired a new stake in shares of Rockwell Automation in the fourth quarter valued at about $36,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Matheus De A. G. Viera Bulho sold 526 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $325.35, for a total transaction of $171,134.10. Following the transaction, the senior vice president directly owned 983 shares in the company, valued at $319,819.05. The trade was a 34.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Terry L. Riesterer sold 269 shares of Rockwell Automation stock in a transaction that occurred 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 sale, the vice president directly owned 1,613 shares in the company, valued at $573,034.38. The trade was a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,818 shares of company stock valued at $1,944,708. 0.68% of the stock is currently owned by company insiders.

Rockwell Automation Stock Up 3.3%

Shares of Rockwell Automation stock traded up $11.2350 during midday trading on Friday, hitting $350.7550. The company's stock had a trading volume of 663,160 shares, compared to its average volume of 1,079,796. The firm has a market capitalization of $39.44 billion, a P/E ratio of 41.17, a PEG ratio of 3.49 and a beta of 1.39. The stock has a 50-day simple moving average of $341.12 and a 200-day simple moving average of $298.45. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.72. Rockwell Automation, Inc. has a 1-year low of $215.00 and a 1-year high of $360.92.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.67 by $0.15. The business 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 last year, the firm posted $2.71 earnings per share. As a group, sell-side analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be given a dividend of $1.31 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.5%. Rockwell Automation's dividend payout ratio (DPR) is presently 61.50%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ROK shares. Wall Street Zen raised Rockwell Automation from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Stephens reiterated 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. TD Cowen upgraded 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. Bank of America upgraded Rockwell Automation from a "neutral" rating to a "buy" rating and lifted their price target for the company from $360.00 to $410.00 in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company set a $345.00 price target on Rockwell Automation and gave the company an "equal weight" rating in a research report on Friday, August 8th. 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 assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $340.16.

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.