Kestra Advisory Services LLC Raises Stock Position in Rockwell Automation, Inc. $ROK

Key Points

• Kestra Advisory Services LLC increased its stake in Rockwell Automation by 13.3% during the first quarter, holding 19,802 shares valued at $5.12 million.
• Rockwell Automation reported earnings per share of $2.82 for the last quarter, exceeding estimates and reflected a 4.5% year-over-year revenue growth to $2.14 billion.
• The company also declared a quarterly dividend of $1.31 per share, resulting in an annualized dividend yield of 1.5%.

Kestra Advisory Services LLC boosted its stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 13.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,802 shares of the industrial products company's stock after purchasing an additional 2,331 shares during the quarter. Kestra Advisory Services LLC's holdings in Rockwell Automation were worth $5,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Compound Planning Inc. grew its stake in Rockwell Automation by 30.3% in the 1st quarter. Compound Planning Inc. now owns 1,788 shares of the industrial products company's stock worth $462,000 after buying an additional 416 shares in the last quarter. Norinchukin Bank The grew its stake in Rockwell Automation by 14.7% in the 1st quarter. Norinchukin Bank The now owns 7,999 shares of the industrial products company's stock worth $2,067,000 after buying an additional 1,028 shares in the last quarter. CW Advisors LLC grew its stake in Rockwell Automation by 13.1% in the 1st quarter. CW Advisors LLC now owns 853 shares of the industrial products company's stock worth $221,000 after buying an additional 99 shares in the last quarter. Capital Fund Management S.A. grew its stake in Rockwell Automation by 17.4% in the 1st quarter. Capital Fund Management S.A. now owns 20,550 shares of the industrial products company's stock worth $5,310,000 after buying an additional 3,052 shares in the last quarter. Finally, Venture Visionary Partners LLC grew its stake in Rockwell Automation by 5.8% in the 1st quarter. Venture Visionary Partners LLC now owns 23,604 shares of the industrial products company's stock worth $6,099,000 after buying an additional 1,293 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company's stock.

Rockwell Automation Stock Down 1.5%

ROK stock traded down $5.33 during midday trading on Friday, hitting $343.80. The stock had a trading volume of 697,281 shares, compared to its average volume of 943,601. The firm has a market cap of $38.66 billion, a price-to-earnings ratio of 40.35, a price-to-earnings-growth ratio of 3.59 and a beta of 1.39. The business has a 50-day moving average of $343.49 and a two-hundred day moving average of $300.49. 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 current ratio of 1.06 and a quick ratio of 0.72.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.15. The company had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.07 billion. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.71 earnings per share. As a group, equities research analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Stephens reissued an "overweight" rating and issued a $375.00 price target (up previously from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. Citigroup reissued a "buy" rating and issued a $392.00 price target (up previously from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. Wells Fargo & Company set a $345.00 price target on shares of Rockwell Automation and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Oppenheimer decreased their price target on shares of Rockwell Automation from $371.00 to $363.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Finally, KeyCorp lifted their price target on shares of Rockwell Automation from $370.00 to $380.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $340.16.

Insider Buying and Selling

In related news, SVP Matthew W. Fordenwalt sold 289 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $326.33, for a total value of $94,309.37. Following the sale, the senior vice president owned 3,196 shares in the company, valued at $1,042,950.68. This represents a 8.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Terry L. Riesterer sold 269 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $355.26, for a total value of $95,564.94. Following the completion of the sale, the vice president owned 1,613 shares in the company, valued at $573,034.38. The trade was a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,368 shares of company stock worth $2,871,129 over the last three months. Corporate insiders own 0.68% of the company's stock.

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.