Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 4,751 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Key Points

• Empirical Financial Services LLC reduced its holdings in Rockwell Automation by 77.7% in the first quarter, ending with 1,366 shares valued at $353,000.
• Insider activity indicates that SVP Tessa M. Myers and VP Isaac Woods each sold shares, contributing to a total of 9,757 shares worth over $3 million sold by insiders last quarter.
• Rockwell Automation's stock has seen a decline of 2.1%, with a market cap of $38.82 billion and a price-to-earnings ratio of 43.38.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management trimmed its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 77.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,366 shares of the industrial products company's stock after selling 4,751 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Rockwell Automation were worth $353,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Davis R M Inc. raised its holdings in shares of Rockwell Automation by 1.8% during the 1st quarter. Davis R M Inc. now owns 88,595 shares of the industrial products company's stock valued at $22,891,000 after buying an additional 1,607 shares during the period. Bayforest Capital Ltd acquired a new stake in Rockwell Automation in the 1st quarter valued at about $134,000. Vestcor Inc increased its position in shares of Rockwell Automation by 19.3% in the first quarter. Vestcor Inc now owns 2,304 shares of the industrial products company's stock worth $595,000 after acquiring an additional 373 shares in the last quarter. XTX Topco Ltd acquired a new position in Rockwell Automation in the 1st quarter valued at approximately $1,932,000. Finally, WIM INVESTMENT MANAGEMENT Ltd increased its position in Rockwell Automation by 28.9% during the first quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 51,500 shares of the industrial products company's stock worth $13,307,000 after buying an additional 11,550 shares during the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Matheus De A. G. Viera Bulho sold 939 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $304.24, for a total value of $285,681.36. Following the sale, the senior vice president owned 983 shares of the company's stock, valued at approximately $299,067.92. This trade represents a 48.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Matthew W. Fordenwalt sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $320.02, for a total transaction of $160,010.00. Following the completion of the transaction, the senior vice president owned 2,709 shares of the company's stock, valued at approximately $866,934.18. This trade represents a 15.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,757 shares of company stock valued at $3,138,220 in the last three months. Insiders own 0.68% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Oppenheimer lowered their price objective on Rockwell Automation from $371.00 to $363.00 and set an "outperform" rating on the stock in a research report on Thursday. Bank of America raised shares of Rockwell Automation from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $360.00 to $410.00 in a report on Wednesday, July 16th. Wells Fargo & Company upped their target price on shares of Rockwell Automation from $315.00 to $365.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. CICC Research began coverage on shares of Rockwell Automation in a research note on Monday, July 7th. They set an "outperform" rating and a $381.00 price target for the company. Finally, TD Cowen upgraded Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 price objective on the stock in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.53.

Rockwell Automation Stock Up 1.3%

Shares of ROK stock traded up $4.29 during trading hours on Thursday, hitting $332.96. 1,728,143 shares of the company were exchanged, compared to its average volume of 944,523. Rockwell Automation, Inc. has a 52 week low of $215.00 and a 52 week high of $360.92. 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 business has a 50 day moving average of $336.19 and a two-hundred day moving average of $293.61. The company has a market capitalization of $37.53 billion, a PE ratio of 41.94, a PEG ratio of 3.53 and a beta of 1.39.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.82 EPS for the quarter, topping analysts' consensus estimates of $2.67 by $0.15. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the prior year, the business posted $2.71 EPS. The company's quarterly revenue was up 4.5% on a year-over-year basis. Analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The firm 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 1.6%. Rockwell Automation's dividend payout ratio is 65.99%.

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.