Rockwell Automation, Inc. $ROK Stock Holdings Lowered by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its holdings in Rockwell Automation, Inc. by 2.9% during Q1, owning 26,095 shares valued at approximately $6.74 million after selling 769 shares.
• Multiple institutional investors, including Goldman Sachs Group Inc. and Charles Schwab Investment Management Inc., increased their positions in Rockwell Automation, signaling strong interest in the stock.
• Rockwell Automation reported earnings of $2.82 per share for the last quarter, exceeding expectations, and announced a quarterly dividend of $1.31, indicating a sustainable payout ratio of 61.5%.

Corebridge Financial Inc. decreased its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,095 shares of the industrial products company's stock after selling 769 shares during the period. Corebridge Financial Inc.'s holdings in Rockwell Automation were worth $6,742,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in Rockwell Automation by 11.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,819,379 shares of the industrial products company's stock worth $470,091,000 after buying an additional 191,370 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Rockwell Automation by 0.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,579,956 shares of the industrial products company's stock worth $408,229,000 after purchasing an additional 9,920 shares during the last quarter. Invesco Ltd. increased its position in shares of Rockwell Automation by 2.2% in the 1st quarter. Invesco Ltd. now owns 1,448,160 shares of the industrial products company's stock worth $374,176,000 after purchasing an additional 30,837 shares during the last quarter. Northern Trust Corp increased its position in shares of Rockwell Automation by 0.4% in the 1st quarter. Northern Trust Corp now owns 1,396,303 shares of the industrial products company's stock worth $360,777,000 after purchasing an additional 4,972 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Rockwell Automation by 2.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,158,161 shares of the industrial products company's stock worth $330,991,000 after purchasing an additional 29,350 shares during the last quarter. Hedge funds and other institutional investors own 75.75% of the company's stock.

Rockwell Automation Price Performance

Shares of NYSE:ROK traded down $5.62 during trading on Tuesday, reaching $337.81. The company had a trading volume of 1,076,705 shares, compared to its average volume of 944,402. The firm's fifty day moving average is $344.34 and its 200 day moving average is $301.11. The firm has a market capitalization of $37.98 billion, a PE ratio of 39.65, a price-to-earnings-growth ratio of 3.53 and a beta of 1.41. Rockwell Automation, Inc. has a twelve month low of $215.00 and a twelve month high of $360.92. 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 (NYSE:ROK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, topping analysts' consensus estimates of $2.67 by $0.15. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.71 EPS. On average, equities analysts forecast that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be paid a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation's dividend payout ratio is currently 61.50%.

Insider Buying and Selling

In related news, SVP Matthew W. Fordenwalt sold 289 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $326.33, for a total value of $94,309.37. Following the sale, the senior vice president directly owned 3,196 shares in the company, valued at $1,042,950.68. The trade was a 8.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Matheus De A. G. Viera Bulho sold 526 shares of the business's stock in a transaction that occurred 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 completion of the sale, the senior vice president 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 disclosure for this sale can be found here. In the last quarter, insiders sold 8,145 shares of company stock worth $2,801,114. Company insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ROK. Citigroup reissued a "buy" rating and issued a $392.00 target price (up previously from $371.00) on shares of Rockwell Automation in a research report on Monday, July 14th. Bank of America raised shares of Rockwell Automation from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $360.00 to $410.00 in a research report on Wednesday, July 16th. CICC Research began coverage on shares of Rockwell Automation in a research report on Monday, July 7th. They issued an "outperform" rating and a $381.00 target price for the company. KeyCorp boosted their target price on shares of Rockwell Automation from $370.00 to $380.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, TD Cowen raised shares of Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 price target for the company in a report on Friday, May 9th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $340.16.

Rockwell Automation Profile

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.