Rockwell Automation, Inc. $ROK Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has reduced its stake in Rockwell Automation by 6.3%, now holding 781,785 shares valued at approximately $202 million.
• Rockwell Automation reported a net margin of 12.03% and earnings per share of $2.82 for the last quarter, surpassing analysts' expectations.
• The company announced a quarterly dividend of $1.31 per share, representing an annual yield of 1.5% and a payout ratio of 61.50%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 6.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 781,785 shares of the industrial products company's stock after selling 52,837 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.69% of Rockwell Automation worth $202,000,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ROK. Citizens National Bank Trust Department purchased a new stake in shares of Rockwell Automation in the first quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Rockwell Automation in the first quarter valued at approximately $31,000. IMA Advisory Services Inc. purchased a new stake in shares of Rockwell Automation in the first quarter valued at approximately $32,000. Cooksen Wealth LLC purchased a new stake in shares of Rockwell Automation in the first quarter valued at approximately $34,000. Finally, Cary Street Partners Investment Advisory LLC boosted its stake in shares of 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 buying an additional 62 shares in the last quarter. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ROK has been the topic of a number of research analyst reports. Wall Street Zen upgraded Rockwell Automation from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Barclays boosted their target price on Rockwell Automation from $357.00 to $370.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. KeyCorp upped their price objective on Rockwell Automation from $370.00 to $380.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. CICC Research initiated coverage on Rockwell Automation in a research report on Monday, July 7th. They issued an "outperform" rating and a $381.00 price objective on the stock. Finally, Wells Fargo & Company set a $345.00 price objective on Rockwell Automation and gave the company an "equal weight" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $340.16.

Insider Transactions at Rockwell Automation

In related news, SVP Christopher Nardecchia sold 551 shares of the company'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 $179,796.81. Following the completion of the transaction, the senior vice president directly owned 12,711 shares in the company, valued at approximately $4,147,726.41. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Matheus De A. G. Viera Bulho sold 526 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $325.35, for a total value of $171,134.10. Following the completion of the transaction, the senior vice president owned 983 shares of the company's stock, valued at $319,819.05. The trade was a 34.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,445 shares of company stock valued at $3,267,779. Corporate insiders own 0.68% of the company's stock.

Rockwell Automation Trading Down 0.8%

Rockwell Automation stock traded down $2.61 during trading on Friday, hitting $339.26. The company's stock had a trading volume of 539,564 shares, compared to its average volume of 815,013. The stock has a market capitalization of $38.14 billion, a price-to-earnings ratio of 39.82, a P/E/G ratio of 3.50 and a beta of 1.41. The stock's fifty day moving average is $345.38 and its 200 day moving average is $302.23. Rockwell Automation, Inc. has a 1-year low of $215.00 and a 1-year 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 released 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. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The business's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.71 earnings per share. As a group, equities research analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Announces Dividend

The firm also recently announced 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. 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 is presently 61.50%.

Rockwell Automation 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.