Connective Portfolio Management LLC Invests $1.03 Million in Rockwell Automation, Inc. (NYSE:ROK)

Connective Portfolio Management LLC purchased a new position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 4,000 shares of the industrial products company's stock, valued at approximately $1,034,000. Rockwell Automation accounts for approximately 3.5% of Connective Portfolio Management LLC's holdings, making the stock its 13th biggest position.

Several other institutional investors also recently modified their holdings of the business. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Rockwell Automation by 0.9% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,775 shares of the industrial products company's stock worth $1,079,000 after buying an additional 33 shares during the period. Whittier Trust Co. boosted its stake in Rockwell Automation by 1.9% during the 4th quarter. Whittier Trust Co. now owns 1,896 shares of the industrial products company's stock worth $542,000 after acquiring an additional 35 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its stake in Rockwell Automation by 0.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company's stock worth $1,199,000 after acquiring an additional 38 shares during the last quarter. Lake Street Advisors Group LLC boosted its stake in Rockwell Automation by 3.0% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,351 shares of the industrial products company's stock worth $386,000 after acquiring an additional 39 shares during the last quarter. Finally, Knuff & Co LLC boosted its stake in Rockwell Automation by 41.0% during the 4th quarter. Knuff & Co LLC now owns 141 shares of the industrial products company's stock worth $40,000 after acquiring an additional 41 shares during the last quarter. Institutional investors and hedge funds own 75.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. KeyCorp reissued an "overweight" rating and set a $360.00 price objective (up previously from $345.00) on shares of Rockwell Automation in a research note on Friday, June 13th. Barclays raised shares of Rockwell Automation from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $283.00 to $350.00 in a research note on Friday, May 30th. Loop Capital lifted 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. Citigroup lifted their price objective on shares of Rockwell Automation from $327.00 to $371.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Finally, Oppenheimer lifted their price objective on shares of Rockwell Automation from $258.00 to $304.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $317.79.

Insider Transactions at Rockwell Automation

In related news, SVP Matthew W. Fordenwalt sold 223 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $313.97, for a total transaction of $70,015.31. Following the transaction, the senior vice president now directly owns 3,209 shares in the company, valued at approximately $1,007,529.73. The trade was a 6.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Matheus De A. G. Viera Bulho sold 526 shares of the business's stock in a transaction on 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 now owns 983 shares in the company, valued at approximately $319,819.05. The trade was a 34.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,681 shares of company stock valued at $2,382,987 over the last 90 days. 0.68% of the stock is owned by corporate insiders.

Rockwell Automation Stock Performance

Shares of ROK stock opened at $320.97 on Friday. The company's fifty day simple moving average is $288.41 and its 200-day simple moving average is $280.81. The company has a quick ratio of 0.72, a current ratio of 1.05 and a debt-to-equity ratio of 0.71. The firm has a market cap of $36.18 billion, a PE ratio of 40.42, a P/E/G ratio of 3.73 and a beta of 1.38. Rockwell Automation, Inc. has a 12 month low of $215.00 and a 12 month high of $328.90.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 EPS for the quarter, topping analysts' consensus estimates of $2.09 by $0.36. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. The firm's revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.50 earnings per share. Equities research analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal 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 $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation's dividend payout ratio is presently 65.99%.

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.

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