Howard Bailey Securities LLC purchased a new position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 958 shares of the industrial products company's stock, valued at approximately $248,000.
A number of other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Rockwell Automation in the 4th quarter worth $284,177,000. GAMMA Investing LLC boosted its stake in Rockwell Automation by 29,844.4% in the 1st quarter. GAMMA Investing LLC now owns 702,794 shares of the industrial products company's stock worth $181,588,000 after purchasing an additional 700,447 shares during the period. Wellington Management Group LLP grew its holdings in Rockwell Automation by 85,513.1% during the 4th quarter. Wellington Management Group LLP now owns 675,487 shares of the industrial products company's stock valued at $193,047,000 after buying an additional 674,698 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of 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 valued at $368,021,000 after buying an additional 651,116 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of 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 during the last quarter. 75.75% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. Citigroup increased their price objective on shares of Rockwell Automation from $327.00 to $371.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Loop Capital increased their price target on Rockwell Automation from $280.00 to $290.00 and gave the company a "hold" rating in a research note on Thursday, May 15th. KeyCorp reaffirmed an "overweight" rating and issued a $360.00 price objective (up previously from $345.00) on shares of Rockwell Automation in a research note on Friday. JPMorgan Chase & Co. boosted their price target on shares of Rockwell Automation from $271.00 to $299.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Wells Fargo & Company upped their price target on shares of Rockwell Automation from $265.00 to $315.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $317.79.
Read Our Latest Analysis on ROK
Insider Activity at Rockwell Automation
In related news, SVP Matheus De A. G. Viera Bulho sold 293 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $257.68, for a total transaction of $75,500.24. Following the sale, the senior vice president now directly owns 1,922 shares in the company, valued at approximately $495,260.96. This represents a 13.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matthew W. Fordenwalt sold 223 shares of Rockwell Automation stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $313.97, for a total transaction of $70,015.31. Following the completion of the transaction, the senior vice president now owns 3,209 shares of the company's stock, valued at $1,007,529.73. This represents a 6.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,681 shares of company stock worth $2,382,987. Company insiders own 0.68% of the company's stock.
Rockwell Automation Stock Performance
Shares of ROK stock traded down $4.06 during trading hours on Tuesday, hitting $320.24. The company's stock had a trading volume of 559,776 shares, compared to its average volume of 882,205. 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 company has a 50 day moving average of $281.60 and a 200 day moving average of $279.87. The stock has a market cap of $36.10 billion, a PE ratio of 34.28, a price-to-earnings-growth ratio of 3.76 and a beta of 1.38.
Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates of $2.09 by $0.36. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. Rockwell Automation's quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the company posted $2.50 EPS. On average, sell-side analysts forecast that Rockwell Automation, Inc. will post 9.35 EPS 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. Stockholders of record on Monday, August 18th will be issued a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation's dividend payout ratio is presently 65.99%.
Rockwell Automation 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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