Longfellow Investment Management Co. LLC bought 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 Securities and Exchange Commission (SEC). The institutional investor bought 2,448 shares of the industrial products company's stock, valued at approximately $633,000.
Several other institutional investors and hedge funds also recently modified their holdings of ROK. Fifth Third Bancorp lifted its stake in shares of Rockwell Automation by 8.5% in the first quarter. Fifth Third Bancorp now owns 5,424 shares of the industrial products company's stock worth $1,401,000 after acquiring an additional 423 shares in the last quarter. CWM LLC grew its holdings in Rockwell Automation by 3.7% in the 1st quarter. CWM LLC now owns 2,353 shares of the industrial products company's stock worth $608,000 after buying an additional 84 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Rockwell Automation by 0.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company's stock valued at $1,462,000 after purchasing an additional 43 shares in the last quarter. Brighton Jones LLC acquired a new stake in shares of Rockwell Automation during the 4th quarter valued at $281,000. Finally, J.W. Cole Advisors Inc. lifted its holdings in shares of Rockwell Automation by 128.7% in the first quarter. J.W. Cole Advisors Inc. now owns 4,382 shares of the industrial products company's stock valued at $1,132,000 after purchasing an additional 2,466 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on ROK. KeyCorp increased their price objective on Rockwell Automation from $370.00 to $380.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Bank of America raised shares of Rockwell Automation from a "neutral" rating to a "buy" rating and increased their target price for the stock from $360.00 to $410.00 in a research report on Wednesday, July 16th. Loop Capital raised their price target on Rockwell Automation from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Thursday, May 15th. Stephens reiterated an "overweight" rating and issued a $375.00 target price (up previously from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of Rockwell Automation from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Rockwell Automation currently has a consensus rating of "Moderate Buy" and an average price target of $340.16.
View Our Latest Analysis on ROK
Insider Activity at Rockwell Automation
In other news, VP Isaac Woods sold 297 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $326.31, for a total value of $96,914.07. Following the sale, the vice president owned 1,691 shares of the company's stock, valued at approximately $551,790.21. The trade was a 14.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Matheus De A. G. Viera Bulho sold 526 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $325.35, for a total value of $171,134.10. Following the completion of the sale, the senior vice president directly owned 983 shares in the company, valued at $319,819.05. This represents a 34.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,818 shares of company stock worth $1,944,708 over the last ninety days. Company insiders own 0.68% of the company's stock.
Rockwell Automation Stock Performance
Shares of Rockwell Automation stock traded down $2.07 during trading hours on Friday, hitting $345.44. 276,155 shares of the company were exchanged, compared to its average volume of 944,468. The business has a 50-day moving average of $338.78 and a 200-day moving average of $295.70. The stock has a market capitalization of $38.84 billion, a price-to-earnings ratio of 40.55, a P/E/G ratio of 3.59 and a beta of 1.39. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $360.92.
Rockwell Automation (NYSE:ROK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.82 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $2.07 billion. During the same quarter last year, the company earned $2.71 earnings per share. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.
Rockwell Automation Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be issued a dividend of $1.31 per share. The ex-dividend date is Monday, August 18th. This represents a $5.24 annualized dividend and a yield of 1.5%. Rockwell Automation's payout ratio is currently 61.50%.
About Rockwell Automation
(
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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