Federated Hermes Inc. Sells 4,168 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Key Points

• Federated Hermes Inc. has reduced its stake in Rockwell Automation by 14.8%, resulting in holdings worth approximately $6.20 million as of the end of the first quarter.
• Rockwell Automation reported earnings per share of $2.45 for the latest quarter, exceeding analysts' expectations by $0.36, despite a 5.9% decline in revenue year-over-year.
• The company will pay a quarterly dividend of $1.31 on September 10th, representing an annualized yield of 1.5% with a dividend payout ratio of 65.99%.

Federated Hermes Inc. trimmed its stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 14.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 23,998 shares of the industrial products company's stock after selling 4,168 shares during the period. Federated Hermes Inc.'s holdings in Rockwell Automation were worth $6,201,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ROK. Baldwin Investment Management LLC lifted its holdings in Rockwell Automation by 6.9% in the 1st quarter. Baldwin Investment Management LLC now owns 2,386 shares of the industrial products company's stock worth $616,000 after purchasing an additional 155 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Rockwell Automation by 9.7% in the 1st quarter. Mackenzie Financial Corp now owns 11,595 shares of the industrial products company's stock worth $2,996,000 after acquiring an additional 1,025 shares during the last quarter. LPL Financial LLC grew its position in Rockwell Automation by 21.7% during the first quarter. LPL Financial LLC now owns 184,456 shares of the industrial products company's stock worth $47,660,000 after buying an additional 32,873 shares in the last quarter. Empirical Finance LLC grew its position in shares of Rockwell Automation by 2.8% in the 1st quarter. Empirical Finance LLC now owns 4,034 shares of the industrial products company's stock worth $1,042,000 after buying an additional 110 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in Rockwell Automation by 1.0% in the 1st quarter. TD Asset Management Inc now owns 51,676 shares of the industrial products company's stock worth $13,352,000 after purchasing an additional 533 shares in the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Stock Up 1.0%

Rockwell Automation stock traded up $3.17 during midday trading on Thursday, reaching $331.84. The stock had a trading volume of 1,128,790 shares, compared to its average volume of 941,784. Rockwell Automation, Inc. has a 1-year low of $215.00 and a 1-year high of $360.92. The stock has a market capitalization of $37.40 billion, a P/E ratio of 41.77, a price-to-earnings-growth ratio of 3.53 and a beta of 1.39. The firm's fifty day simple moving average is $336.19 and its 200-day simple moving average is $293.61. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 1.05.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.82 EPS for the quarter, beating analysts' consensus estimates 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 11.38% and a return on equity of 30.16%. Rockwell Automation's revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.71 EPS. As a group, analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be given a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation's payout ratio is presently 65.99%.

Analyst Ratings Changes

A number of equities research analysts have commented on ROK shares. BNP Paribas upgraded Rockwell Automation from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 9th. Wells Fargo & Company lifted their price objective on Rockwell Automation from $315.00 to $365.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. TD Cowen raised Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 price objective for the company in a research note on Friday, May 9th. Bank of America upgraded Rockwell Automation from a "neutral" rating to a "buy" rating and increased their target price for the stock from $360.00 to $410.00 in a report on Wednesday, July 16th. Finally, Loop Capital raised their price target on shares of Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research note 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 assigned a strong buy rating to the company's stock. According to MarketBeat, Rockwell Automation currently has an average rating of "Moderate Buy" and a consensus price target of $340.53.

Insider Activity

In related news, VP Isaac Woods sold 297 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $326.31, for a total transaction of $96,914.07. Following the transaction, the vice president owned 1,691 shares of the company's stock, valued at approximately $551,790.21. This represents a 14.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Matheus De A. G. Viera Bulho sold 526 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $325.35, for a total value of $171,134.10. Following the completion of the sale, the senior vice president directly owned 983 shares in the company, valued at $319,819.05. This represents a 34.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,757 shares of company stock worth $3,138,220. 0.68% of the stock is owned by company insiders.

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.