Gamco Investors INC. ET AL Cuts Stock Holdings in Rockwell Automation, Inc. $ROK

Key Points

• Gamco Investors INC. ET AL reduced its stake in Rockwell Automation by 1.3%, owning 117,972 shares valued at approximately $30.48 million as of the end of the first quarter.
• Rockwell Automation reported $2.82 earnings per share for its latest quarter, surpassing analysts' estimates of $2.67, with quarterly revenue of $2.14 billion, a 4.5% increase year-over-year.
• The company has declared a quarterly dividend of $1.31 per share, representing a yield of 1.5%, and its dividend payout ratio stands at 61.5%.

Gamco Investors INC. ET AL trimmed its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 1.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 117,972 shares of the industrial products company's stock after selling 1,523 shares during the period. Gamco Investors INC. ET AL owned 0.10% of Rockwell Automation worth $30,482,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Citizens National Bank Trust Department purchased a new position in shares of Rockwell Automation in the 1st quarter worth $26,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Rockwell Automation in the 1st quarter worth $31,000. IMA Advisory Services Inc. purchased a new position in shares of Rockwell Automation in the 1st quarter worth $32,000. Cooksen Wealth LLC purchased a new position in shares of Rockwell Automation in the 1st quarter worth $34,000. Finally, Parvin Asset Management LLC purchased a new position in shares of Rockwell Automation in the 4th quarter worth $36,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Trading Down 0.3%

Shares of ROK opened at $349.9730 on Tuesday. Rockwell Automation, Inc. has a 1-year low of $215.00 and a 1-year high of $360.92. The company has a 50-day moving average of $341.64 and a 200 day moving average of $299.42. The firm has a market capitalization of $39.35 billion, a price-to-earnings ratio of 41.08, a PEG ratio of 3.61 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72.

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

Rockwell Automation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be given 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 yield of 1.5%. Rockwell Automation's dividend payout ratio (DPR) is 61.50%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ROK. Bank of America raised shares of Rockwell Automation from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $360.00 to $410.00 in a research note on Wednesday, July 16th. Wells Fargo & Company set a $345.00 target price on shares of Rockwell Automation and gave the stock an "equal weight" rating in a report on Friday, August 8th. KeyCorp raised their target price on shares of Rockwell Automation from $370.00 to $380.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Barclays raised their target price on shares of Rockwell Automation from $357.00 to $370.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Finally, Wall Street Zen upgraded shares of Rockwell Automation from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One 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. According to MarketBeat.com, Rockwell Automation has a consensus rating of "Moderate Buy" and an average target price of $340.16.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, SVP Matthew W. Fordenwalt sold 500 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $320.02, for a total transaction of $160,010.00. Following 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Christopher Nardecchia sold 551 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $326.31, for a total transaction of $179,796.81. Following the transaction, the senior vice president directly owned 12,711 shares in the company, valued at $4,147,726.41. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,818 shares of company stock worth $1,944,708. 0.68% of the stock is currently owned by company insiders.

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.

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