Mackenzie Financial Corp Increases Stake in Rockwell Automation, Inc. (NYSE:ROK)

Key Points

• Mackenzie Financial Corp increased its holdings in Rockwell Automation by 9.7%, acquiring an additional 1,025 shares, bringing its total to 11,595 shares valued at approximately $2.996 million.
• Rockwell Automation reported a quarterly earnings per share (EPS) of $2.45, surpassing analyst expectations of $2.09, despite a year-over-year revenue decrease of 5.9%.
• The company declared a quarterly dividend of $1.31, with an annualized payout yield of 1.5%, scheduled for payment on September 10th to shareholders on record by August 18th.

Mackenzie Financial Corp increased its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 9.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 11,595 shares of the industrial products company's stock after purchasing an additional 1,025 shares during the period. Mackenzie Financial Corp's holdings in Rockwell Automation were worth $2,996,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ROK. Fifth Third Bancorp grew its stake in shares of Rockwell Automation by 8.5% in the 1st quarter. Fifth Third Bancorp now owns 5,424 shares of the industrial products company's stock valued at $1,401,000 after purchasing an additional 423 shares during the period. CWM LLC raised its stake in Rockwell Automation by 3.7% during 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 during the period. Allspring Global Investments Holdings LLC increased its holdings 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 worth $1,462,000 after purchasing an additional 43 shares in the last quarter. Brighton Jones LLC bought a new position in shares of Rockwell Automation in the 4th quarter valued at about $281,000. Finally, J.W. Cole Advisors Inc. grew its holdings in shares of Rockwell Automation by 128.7% in the 1st quarter. J.W. Cole Advisors Inc. now owns 4,382 shares of the industrial products company's stock valued at $1,132,000 after acquiring an additional 2,466 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company's stock.

Insiders Place Their Bets

In related news, SVP Tessa M. Myers sold 363 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $326.32, for a total transaction of $118,454.16. Following the completion of the transaction, the senior vice president owned 4,063 shares in the company, valued at approximately $1,325,838.16. This represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Terry L. Riesterer sold 2,500 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $304.13, for a total transaction of $760,325.00. Following the transaction, the vice president owned 1,033 shares of the company's stock, valued at approximately $314,166.29. This represents a 70.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,757 shares of company stock valued at $3,138,220. Insiders own 0.68% of the company's stock.

Rockwell Automation Trading Down 6.8%

Shares of ROK traded down $23.70 during trading hours on Wednesday, reaching $322.31. 2,011,498 shares of the company traded hands, compared to its average volume of 933,640. Rockwell Automation, Inc. has a 12 month low of $215.00 and a 12 month high of $360.92. The company has a quick ratio of 0.72, a current ratio of 1.05 and a debt-to-equity ratio of 0.71. The company's fifty day moving average price is $335.88 and its two-hundred day moving average price is $293.37. The company has a market capitalization of $36.33 billion, a price-to-earnings ratio of 40.59, a price-to-earnings-growth ratio of 3.57 and a beta of 1.39.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.15. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the firm posted $2.71 earnings per share. The business's revenue was up 4.5% on a year-over-year basis. Equities research analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be given a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, August 18th. Rockwell Automation's dividend payout ratio is presently 65.99%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ROK. Citigroup reiterated a "buy" rating and set a $392.00 price target (up previously from $371.00) on shares of Rockwell Automation in a report on Monday, July 14th. KeyCorp boosted their target price on shares of Rockwell Automation from $360.00 to $370.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Stephens restated an "overweight" rating and issued a $375.00 target price (up previously from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. Loop Capital upped their price objective on shares of Rockwell Automation from $280.00 to $290.00 and gave the company a "hold" rating in a report on Thursday, May 15th. Finally, Wells Fargo & Company upped their target price on shares of Rockwell Automation from $315.00 to $365.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $341.11.

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.