Iyo Bank Ltd. Grows Stake in Rockwell Automation, Inc. (NYSE:ROK)

Key Points

• Iyo Bank Ltd. increased its holdings in Rockwell Automation by 93.9% in the first quarter, acquiring 10,340 shares and bringing its total to 21,350 shares, valued at approximately $5.5 million.
• Analysts have varied predictions for Rockwell Automation's stock price, with KeyCorp raising its target to $380 while Wells Fargo set it at $345, reflecting differing views on the company's outlook.
• Rockwell Automation recently declared a $1.31 per share dividend, with an annualized amount of $5.24 and a dividend yield of 1.6%, scheduled for payment on September 10th.

Iyo Bank Ltd. raised its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 93.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,350 shares of the industrial products company's stock after purchasing an additional 10,340 shares during the period. Rockwell Automation accounts for about 1.8% of Iyo Bank Ltd.'s holdings, making the stock its 22nd largest holding. Iyo Bank Ltd.'s holdings in Rockwell Automation were worth $5,516,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Citizens National Bank Trust Department bought a new position in Rockwell Automation during the 1st quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. bought a new position in Rockwell Automation during the 1st quarter valued at approximately $31,000. IMA Advisory Services Inc. bought a new position in Rockwell Automation during the 1st quarter valued at approximately $32,000. Parvin Asset Management LLC bought a new position in Rockwell Automation during the 4th quarter valued at approximately $36,000. Finally, Cooksen Wealth LLC bought a new position in Rockwell Automation during the 1st quarter valued at approximately $34,000. Institutional investors own 75.75% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ROK shares. Wells Fargo & Company set a $345.00 target price on Rockwell Automation and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Loop Capital increased their target price on Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Thursday, May 15th. Oppenheimer decreased their target price on Rockwell Automation from $371.00 to $363.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Stephens reissued an "overweight" rating and issued a $375.00 target price (up previously from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. Finally, Wall Street Zen raised Rockwell Automation from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $340.16.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, SVP Matheus De A. G. Viera Bulho sold 526 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $325.35, for a total transaction of $171,134.10. Following the sale, the senior vice president directly owned 983 shares in the company, valued at approximately $319,819.05. This trade represents a 34.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Matthew W. Fordenwalt sold 289 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $326.33, for a total value of $94,309.37. Following the sale, the senior vice president owned 3,196 shares in the company, valued at approximately $1,042,950.68. This represents a 8.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,818 shares of company stock worth $1,944,708. Insiders own 0.68% of the company's stock.

Rockwell Automation Stock Down 0.4%

ROK stock traded down $1.45 on Thursday, reaching $347.56. 1,029,445 shares of the company traded hands, compared to its average volume of 948,924. Rockwell Automation, Inc. has a one year low of $215.00 and a one year high of $360.92. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72. The company has a market cap of $39.08 billion, a P/E ratio of 40.79, a price-to-earnings-growth ratio of 3.49 and a beta of 1.39. The firm has a fifty day simple moving average of $338.23 and a 200-day simple moving average of $295.26.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.67 by $0.15. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the business posted $2.71 EPS. The company's revenue was up 4.5% compared to the same quarter last year. Research analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share 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 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 is Monday, August 18th. Rockwell Automation's dividend payout ratio (DPR) is currently 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.