Elevation Point Wealth Partners LLC Grows Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

Elevation Point Wealth Partners LLC boosted its stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 96.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,909 shares of the industrial products company's stock after acquiring an additional 2,415 shares during the period. Elevation Point Wealth Partners LLC's holdings in Rockwell Automation were worth $1,268,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ROK. Norges Bank purchased a new stake in shares of Rockwell Automation during the 4th quarter worth $284,177,000. GAMMA Investing LLC lifted its stake in shares of Rockwell Automation by 29,844.4% in the first quarter. GAMMA Investing LLC now owns 702,794 shares of the industrial products company's stock valued at $181,588,000 after purchasing an additional 700,447 shares during the period. Wellington Management Group LLP boosted its holdings in Rockwell Automation by 85,513.1% during the fourth quarter. Wellington Management Group LLP now owns 675,487 shares of the industrial products company's stock worth $193,047,000 after buying an additional 674,698 shares in the last quarter. Alliancebernstein L.P. grew its position in Rockwell Automation by 102.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,287,731 shares of the industrial products company's stock worth $368,021,000 after buying an additional 651,116 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Rockwell Automation by 6.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,115,280 shares of the industrial products company's stock worth $2,033,476,000 after buying an additional 432,934 shares during the period. 75.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Rockwell Automation news, SVP Matheus De A. G. Viera Bulho sold 293 shares of Rockwell Automation stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $257.68, for a total transaction of $75,500.24. Following the transaction, the senior vice president now directly owns 1,922 shares of the company's stock, valued at $495,260.96. The trade was a 13.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Matthew W. Fordenwalt sold 223 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $313.97, for a total transaction of $70,015.31. Following the completion of the sale, the senior vice president now directly owns 3,209 shares of the company's stock, valued at $1,007,529.73. The trade was a 6.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,681 shares of company stock valued at $2,382,987. 0.68% of the stock is currently owned by company insiders.

Rockwell Automation Trading Up 0.7%

ROK traded up $2.16 during midday trading on Wednesday, hitting $322.57. The company's stock had a trading volume of 336,016 shares, compared to its average volume of 880,120. The company has a current ratio of 1.05, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The firm has a market cap of $36.36 billion, a P/E ratio of 40.63, a PEG ratio of 3.76 and a beta of 1.38. The firm has a 50-day moving average price of $283.16 and a two-hundred day moving average price of $280.15. Rockwell Automation, Inc. has a 52-week low of $215.00 and a 52-week high of $328.90.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.36. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. The business had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same period last year, the company earned $2.50 earnings per share. The company's quarterly revenue was down 5.9% on a year-over-year basis. On average, research analysts anticipate 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. Stockholders of record on Monday, August 18th will be issued 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 dividend yield of 1.62%. Rockwell Automation's payout ratio is 65.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ROK shares. JPMorgan Chase & Co. lifted their price target on shares of Rockwell Automation from $271.00 to $299.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. BNP Paribas raised Rockwell Automation from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 9th. Loop Capital boosted their target price on Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Thursday, May 15th. Oppenheimer raised their price target on Rockwell Automation from $258.00 to $304.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, Wells Fargo & Company lifted their price target on Rockwell Automation from $265.00 to $315.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $317.79.

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.