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Elefante Mark B Purchases 1,650 Shares of Rockwell Automation, Inc. (NYSE:ROK)

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Key Points

  • Elefante Mark B increased its holdings in Rockwell Automation, Inc. by 16% in the first quarter, acquiring an additional 1,650 shares, bringing its total to 11,989 shares worth approximately $3.1 million.
  • A variety of institutional investors have also added to their stakes, with 75.75% of Rockwell Automation's stock owned by institutional investors and hedge funds.
  • Analysts have raised their price targets for Rockwell Automation, with the average target now at $341.11 and a consensus rating of "Moderate Buy."
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Elefante Mark B grew its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 16.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,989 shares of the industrial products company's stock after purchasing an additional 1,650 shares during the quarter. Rockwell Automation comprises about 2.5% of Elefante Mark B's portfolio, making the stock its 19th biggest position. Elefante Mark B's holdings in Rockwell Automation were worth $3,098,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. boosted its holdings in Rockwell Automation by 30.3% in the first quarter. Avantax Advisory Services Inc. now owns 7,167 shares of the industrial products company's stock worth $1,852,000 after acquiring an additional 1,667 shares in the last quarter. Tempus Wealth Planning LLC lifted its holdings in shares of Rockwell Automation by 6.9% in the first quarter. Tempus Wealth Planning LLC now owns 4,929 shares of the industrial products company's stock valued at $1,274,000 after purchasing an additional 320 shares in the last quarter. Davis Rea LTD. bought a new position in shares of Rockwell Automation in the first quarter valued at approximately $1,331,000. Mendel Money Management lifted its holdings in shares of Rockwell Automation by 1.7% in the first quarter. Mendel Money Management now owns 2,767 shares of the industrial products company's stock valued at $715,000 after purchasing an additional 46 shares in the last quarter. Finally, Dempze Nancy E lifted its holdings in shares of Rockwell Automation by 1.9% in the first quarter. Dempze Nancy E now owns 13,889 shares of the industrial products company's stock valued at $3,589,000 after purchasing an additional 255 shares in the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Barclays raised their target price on Rockwell Automation from $350.00 to $370.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Wells Fargo & Company increased their price target on Rockwell Automation from $315.00 to $365.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Oppenheimer increased their price target on Rockwell Automation from $304.00 to $371.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. increased their price target on Rockwell Automation from $271.00 to $299.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Loop Capital increased their price target on Rockwell Automation from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $341.11.

Get Our Latest Stock Analysis on Rockwell Automation

Insider Buying and Selling

In related news, SVP Tessa M. Myers sold 363 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $326.32, for a total value of $118,454.16. Following the sale, the senior vice president owned 4,063 shares in the company, valued at $1,325,838.16. This represents a 8.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Matheus De A. G. Viera Bulho sold 526 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $325.35, for a total value of $171,134.10. Following the completion of the transaction, the senior vice president directly owned 983 shares in the company, valued at $319,819.05. This trade represents 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 9,757 shares of company stock worth $3,138,220 over the last three months. Corporate insiders own 0.68% of the company's stock.

Rockwell Automation Trading Up 0.5%

NYSE:ROK traded up $1.86 during mid-day trading on Friday, reaching $358.87. 642,538 shares of the company's stock traded hands, compared to its average volume of 782,185. Rockwell Automation, Inc. has a 12-month low of $215.00 and a 12-month high of $360.92. The firm has a market capitalization of $40.45 billion, a price-to-earnings ratio of 45.20, a PEG ratio of 3.64 and a beta of 1.38. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.05 and a quick ratio of 0.72. The company has a 50 day moving average price of $329.75 and a 200-day moving average price of $289.80.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates of $2.09 by $0.36. Rockwell Automation had a return on equity of 30.16% and a net margin of 11.38%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the business earned $2.50 EPS. The business's revenue for the quarter was down 5.9% on a year-over-year basis. On average, sell-side analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be paid a $1.31 dividend. The ex-dividend date is Monday, August 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.46%. Rockwell Automation's payout ratio is currently 65.99%.

Rockwell Automation Profile

(Free Report)

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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Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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