Hemenway Trust Co LLC lifted its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 111,876 shares of the industrial products company's stock after buying an additional 2,649 shares during the quarter. Rockwell Automation comprises about 2.4% of Hemenway Trust Co LLC's holdings, making the stock its 18th largest position. Hemenway Trust Co LLC owned 0.10% of Rockwell Automation worth $28,907,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in Rockwell Automation during the fourth quarter worth $284,177,000. GAMMA Investing LLC boosted its stake in Rockwell Automation by 29,844.4% during the first quarter. GAMMA Investing LLC now owns 702,794 shares of the industrial products company's stock worth $181,588,000 after acquiring an additional 700,447 shares in the last quarter. Wellington Management Group LLP boosted its stake 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 acquiring an additional 674,698 shares in the last quarter. Alliancebernstein L.P. boosted its stake 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 acquiring an additional 651,116 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake 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 acquiring an additional 432,934 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
ROK has been the topic of a number of recent research reports. BNP Paribas raised shares of Rockwell Automation from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 9th. KeyCorp reiterated an "overweight" rating and issued a $360.00 target price (up previously from $345.00) on shares of Rockwell Automation in a report on Friday, June 13th. Barclays upgraded shares of Rockwell Automation from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $283.00 to $350.00 in a report on Friday, May 30th. Wells Fargo & Company lifted their target price on shares of Rockwell Automation from $265.00 to $315.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Finally, Oppenheimer lifted their target price on shares of Rockwell Automation from $258.00 to $304.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $317.79.
Check Out Our Latest Analysis on ROK
Rockwell Automation Price Performance
Shares of ROK stock traded down $0.84 during trading hours on Friday, reaching $320.97. The stock had a trading volume of 1,083,786 shares, compared to its average volume of 877,072. The stock's fifty day simple moving average is $288.41 and its 200 day simple moving average is $280.72. The company has a current ratio of 1.05, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. Rockwell Automation, Inc. has a 12 month low of $215.00 and a 12 month high of $328.90. The firm has a market capitalization of $36.18 billion, a PE ratio of 40.42, a PEG ratio of 3.73 and a beta of 1.38.
Rockwell Automation (NYSE:ROK - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 EPS for the quarter, beating analysts' consensus estimates of $2.09 by $0.36. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the business earned $2.50 earnings per share. Rockwell Automation's revenue was down 5.9% compared to the same quarter last year. On average, equities research analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current year.
Rockwell Automation Announces Dividend
The business 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 annualized dividend and a yield of 1.63%. Rockwell Automation's payout ratio is presently 65.99%.
Insider Buying and Selling at Rockwell Automation
In other news, SVP Matthew W. Fordenwalt sold 500 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $295.01, for a total value of $147,505.00. Following the completion of the sale, the senior vice president now directly owns 2,838 shares in the company, valued at approximately $837,238.38. The trade was a 14.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Matheus De A. G. Viera Bulho sold 293 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $257.68, for a total transaction of $75,500.24. Following the completion of the sale, the senior vice president now owns 1,922 shares of the company's stock, valued at approximately $495,260.96. The trade was a 13.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,681 shares of company stock worth $2,382,987 over the last three months. 0.68% of the stock is owned by insiders.
Rockwell Automation Company Profile
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Free Report)
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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