Magnetar Financial LLC Invests $2.82 Million in Rockwell Automation, Inc. $ROK

Key Points

• Magnetar Financial LLC has acquired 10,930 shares of Rockwell Automation, valued at approximately $2.8 million, as part of its new investment strategy in the first quarter.
• Rockwell Automation reported earnings of $2.82 per share for the last quarter, exceeding analysts' expectations, with revenues reaching $2.14 billion.
• The company declared a quarterly dividend of $1.31 per share, representing an annualized dividend yield of 1.5% and a payout ratio of 61.5%.

Magnetar Financial LLC purchased a new stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,930 shares of the industrial products company's stock, valued at approximately $2,824,000.

Other institutional investors have also recently made changes to their positions in the company. Citizens National Bank Trust Department purchased a new position in Rockwell Automation in the first quarter valued at about $26,000. Financial Gravity Asset Management Inc. purchased a new position in Rockwell Automation in the first quarter valued at about $31,000. IMA Advisory Services Inc. purchased a new position in Rockwell Automation in the first quarter valued at about $32,000. Cooksen Wealth LLC purchased a new position in Rockwell Automation in the first quarter valued at about $34,000. Finally, Cary Street Partners Investment Advisory LLC grew its stake in Rockwell Automation by 59.6% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 166 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 75.75% of the company's stock.

Rockwell Automation Stock Performance

NYSE ROK traded down $5.62 during trading hours on Tuesday, reaching $337.81. The stock had a trading volume of 1,076,705 shares, compared to its average volume of 944,402. The stock has a fifty day moving average of $344.34 and a 200 day moving average of $301.11. The stock has a market cap of $37.98 billion, a P/E ratio of 39.65, a price-to-earnings-growth ratio of 3.53 and a beta of 1.41. 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 announced 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. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the company posted $2.71 earnings per share. Rockwell Automation's revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be issued a $1.31 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.6%. Rockwell Automation's payout ratio is presently 61.50%.

Wall Street Analysts Forecast Growth

ROK has been the topic of several analyst reports. Wall Street Zen upgraded Rockwell Automation from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Barclays boosted their price target on Rockwell Automation from $357.00 to $370.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. TD Cowen upgraded Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 price target on the stock in a research note on Friday, May 9th. KeyCorp boosted their price target on Rockwell Automation from $370.00 to $380.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, Citigroup restated a "buy" rating and set a $392.00 price target (up previously from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. One research 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $340.16.

Insider Buying and Selling

In other Rockwell Automation news, SVP Matthew W. Fordenwalt sold 500 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $320.02, for a total value of $160,010.00. Following the completion of the transaction, the senior vice president directly owned 2,709 shares of the company's stock, valued at approximately $866,934.18. The trade was a 15.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James P. Keane sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $356.06, for a total value of $1,068,180.00. Following the completion of the transaction, the director directly owned 9,192 shares of the company's stock, valued at $3,272,903.52. The trade was a 24.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,145 shares of company stock valued at $2,801,114 in the last three months. 0.68% of the stock is currently owned by company insiders.

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.