Hsbc Holdings PLC Increases Stake in Rockwell Automation, Inc. $ROK

Key Points

• Hsbc Holdings PLC increased its stake in Rockwell Automation, acquiring an additional 19,469 shares and reaching a total of 218,560 shares, valued at approximately $56.2 million.
• Numerous institutional investors, including Goldman Sachs and Charles Schwab, have also increased their holdings in Rockwell Automation, reflecting a strong interest in the company.
• Rockwell Automation reported better-than-expected earnings for the quarter, with an EPS of $2.82, beating estimates of $2.67, and declared a quarterly dividend of $1.31 per share.

Hsbc Holdings PLC increased its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 9.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 218,560 shares of the industrial products company's stock after acquiring an additional 19,469 shares during the quarter. Hsbc Holdings PLC owned about 0.19% of Rockwell Automation worth $56,211,000 at the end of the most recent reporting period.

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

Insider Activity

In related news, VP Terry L. Riesterer sold 269 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $355.26, for a total transaction of $95,564.94. Following the sale, the vice president directly owned 1,613 shares of the company's stock, valued at $573,034.38. This represents a 14.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Isaac Woods sold 297 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $326.31, for a total transaction of $96,914.07. Following the sale, the vice president directly owned 1,691 shares in the company, valued at approximately $551,790.21. The trade was a 14.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,818 shares of company stock worth $1,944,708 over the last 90 days. Company insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ROK. Bank of America upgraded shares of Rockwell Automation from a "neutral" rating to a "buy" rating and boosted their target price for the company from $360.00 to $410.00 in a report on Wednesday, July 16th. Wells Fargo & Company set a $345.00 target price on shares of Rockwell Automation and gave the company an "equal weight" rating in a report on Friday, August 8th. Stephens reiterated an "overweight" rating and issued a $375.00 target price (up from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. CICC Research began coverage on shares of Rockwell Automation in a report on Monday, July 7th. They issued an "outperform" rating and a $381.00 target price on the stock. Finally, KeyCorp boosted their target price on shares of Rockwell Automation from $370.00 to $380.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $340.16.

Rockwell Automation Trading Up 1.4%

Shares of Rockwell Automation stock traded up $4.95 on Tuesday, reaching $354.92. The company had a trading volume of 516,873 shares, compared to its average volume of 937,334. The firm's 50 day moving average price is $341.64 and its two-hundred day moving average price is $299.42. The firm has a market cap of $39.91 billion, a PE ratio of 41.74, a PEG ratio of 3.61 and a beta of 1.39. Rockwell Automation, Inc. has a 52-week low of $215.00 and a 52-week high of $360.92. 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 (NYSE:ROK - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.67 by $0.15. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The business's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.71 EPS. Sell-side analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be paid a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation's dividend payout ratio is presently 61.50%.

Rockwell Automation Company 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.