Erste Asset Management GmbH Decreases Stake in Rockwell Automation, Inc. $ROK

Key Points

• Erste Asset Management GmbH has reduced its holdings in Rockwell Automation, Inc. by 14.7%, now owning 17,099 shares valued at approximately $4.42 million.
• Rockwell Automation reported an EPS of $2.82 for the quarter, exceeding estimates, and a revenue of $2.14 billion, showing a 4.5% year-over-year increase.
• The company declared a quarterly dividend of $1.31 per share, reflecting an annualized dividend of $5.24 and a dividend yield of 1.5%.

Erste Asset Management GmbH reduced its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 14.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,099 shares of the industrial products company's stock after selling 2,948 shares during the quarter. Erste Asset Management GmbH's holdings in Rockwell Automation were worth $4,422,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC purchased a new stake in shares of Rockwell Automation in the 4th quarter valued at $281,000. Bank Pictet & Cie Europe AG increased its stake in shares of Rockwell Automation by 0.9% in 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 in the last quarter. Guggenheim Capital LLC increased its stake in shares of Rockwell Automation by 3.5% in the 4th quarter. Guggenheim Capital LLC now owns 3,081 shares of the industrial products company's stock worth $881,000 after acquiring an additional 105 shares in the last quarter. Natixis bought a new position in shares of Rockwell Automation in the 4th quarter worth about $530,000. Finally, MML Investors Services LLC increased its stake in shares of Rockwell Automation by 17.2% in the 4th quarter. MML Investors Services LLC now owns 6,394 shares of the industrial products company's stock worth $1,827,000 after acquiring an additional 939 shares in the last quarter. Institutional investors own 75.75% of the company's stock.

Insider Buying and Selling

In other Rockwell Automation news, VP Terry L. Riesterer sold 269 shares of the business's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $355.26, for a total value of $95,564.94. Following the completion of the transaction, the vice president directly owned 1,613 shares in the company, valued at approximately $573,034.38. The trade was a 14.29% decrease in their ownership of the stock. 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 289 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $326.33, for a total transaction of $94,309.37. Following the completion of the transaction, the senior vice president directly owned 3,196 shares of the company's stock, valued at $1,042,950.68. The trade was a 8.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,818 shares of company stock valued at $1,944,708 over the last quarter. 0.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on ROK shares. Wall Street Zen raised shares of Rockwell Automation from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Wells Fargo & Company set a $345.00 price objective on shares of Rockwell Automation and gave the company an "equal weight" rating in a research report on Friday, August 8th. Bank of America raised shares of Rockwell Automation from a "neutral" rating to a "buy" rating and increased their price objective for the company from $360.00 to $410.00 in a research report on Wednesday, July 16th. KeyCorp increased their price objective on shares of Rockwell Automation from $370.00 to $380.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, Citigroup reaffirmed a "buy" rating and set a $392.00 price target (up previously from $371.00) on shares of Rockwell Automation in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $340.16.

Rockwell Automation Price Performance

Shares of Rockwell Automation stock traded up $4.95 on Tuesday, hitting $354.92. 534,305 shares of the company traded hands, compared to its average volume of 937,454. The stock has a market capitalization of $39.90 billion, a P/E ratio of 41.66, a price-to-earnings-growth ratio of 3.61 and a beta of 1.39. 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, Inc. has a 52 week low of $215.00 and a 52 week high of $360.92. The business has a 50-day simple moving average of $341.64 and a 200 day simple moving average of $299.42.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.15. The company had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. Rockwell Automation's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.71 earnings per share. Research analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The firm also recently disclosed 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 of this dividend is Monday, August 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.5%. Rockwell Automation's dividend payout ratio is 61.50%.

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.