Cetera Investment Advisers Has $7.20 Million Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

Key Points

• Cetera Investment Advisers has decreased its stake in Rockwell Automation by 6%, now holding shares worth approximately $7.20 million.
• Rockwell Automation reported a quarterly earnings increase, with $2.45 earnings per share, surpassing estimates, despite a 5.9% decline in revenue year-over-year.
• The company recently announced a quarterly dividend of $1.31 per share, with a yield of 1.5% and a dividend payout ratio of about 66%.

Cetera Investment Advisers trimmed its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,859 shares of the industrial products company's stock after selling 1,767 shares during the quarter. Cetera Investment Advisers' holdings in Rockwell Automation were worth $7,198,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Citizens National Bank Trust Department purchased a new position in shares of Rockwell Automation in the 1st quarter valued at $26,000. Financial Gravity Asset Management Inc. purchased a new position in Rockwell Automation during the 1st quarter worth $31,000. IMA Advisory Services Inc. purchased a new stake in shares of Rockwell Automation in the first quarter valued at about $32,000. Parvin Asset Management LLC purchased a new stake in shares of Rockwell Automation in the fourth quarter valued at about $36,000. Finally, Cooksen Wealth LLC purchased a new stake in shares of Rockwell Automation in the first quarter valued at about $34,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ROK. Barclays lifted their target price on shares of Rockwell Automation from $350.00 to $370.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Oppenheimer boosted their target price on shares of Rockwell Automation from $304.00 to $371.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Citigroup reiterated a "buy" rating and set a $392.00 price objective (up from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. BNP Paribas upgraded shares of Rockwell Automation from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 9th. Finally, Loop Capital boosted their price objective 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 investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Rockwell Automation presently has an average rating of "Moderate Buy" and an average price target of $341.11.

Rockwell Automation Stock Performance

Shares of ROK stock traded down $21.89 during trading hours on Wednesday, reaching $324.11. The stock had a trading volume of 2,106,649 shares, compared to its average volume of 934,465. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.05 and a quick ratio of 0.72. Rockwell Automation, Inc. has a twelve month low of $215.00 and a twelve month high of $360.92. The firm has a 50-day simple moving average of $335.88 and a 200-day simple moving average of $293.37. The firm has a market capitalization of $36.53 billion, a PE ratio of 40.82, a price-to-earnings-growth ratio of 3.57 and a beta of 1.39.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.67 by $0.15. The firm had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.07 billion. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. Rockwell Automation's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $2.71 EPS. As a group, equities analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be given a dividend of $1.31 per share. 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 (DPR) is 65.99%.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, VP Terry L. Riesterer sold 2,500 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $304.13, for a total value of $760,325.00. Following the completion of the transaction, the vice president directly owned 1,033 shares in the company, valued at $314,166.29. This trade represents a 70.76% 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 Matthew W. Fordenwalt sold 500 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $320.02, for a total transaction of $160,010.00. Following the completion of the sale, the senior vice president directly owned 2,709 shares of the company's stock, valued at $866,934.18. This trade represents a 15.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,757 shares of company stock worth $3,138,220. Company 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.