Rockwell Automation, Inc. (NYSE:ROK) Holdings Decreased by M&T Bank Corp

M&T Bank Corp lowered its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 7.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 18,655 shares of the industrial products company's stock after selling 1,414 shares during the quarter. M&T Bank Corp's holdings in Rockwell Automation were worth $4,821,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. U.S. Capital Wealth Advisors LLC purchased a new position in Rockwell Automation in the first quarter valued at about $240,000. Cooksen Wealth LLC acquired a new position in shares of Rockwell Automation during the first quarter worth about $34,000. TD Private Client Wealth LLC lifted its stake in shares of Rockwell Automation by 27.1% during the first quarter. TD Private Client Wealth LLC now owns 1,938 shares of the industrial products company's stock worth $501,000 after purchasing an additional 413 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Rockwell Automation by 46.4% during the first quarter. Envestnet Asset Management Inc. now owns 279,852 shares of the industrial products company's stock worth $72,308,000 after purchasing an additional 88,713 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in shares of Rockwell Automation by 67.6% during the first quarter. Truist Financial Corp now owns 171,532 shares of the industrial products company's stock worth $44,321,000 after purchasing an additional 69,185 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company's stock.

Analyst Upgrades and Downgrades

ROK has been the subject of several recent research reports. Barclays increased their price objective on shares of Rockwell Automation from $350.00 to $370.00 and gave the company an "overweight" rating in a research report on Wednesday. Bank of America increased their price objective on shares of Rockwell Automation from $330.00 to $360.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. CICC Research initiated coverage on shares of Rockwell Automation in a research report on Monday. They issued an "outperform" rating and a $381.00 price objective for the company. Citigroup increased their price objective on shares of Rockwell Automation from $327.00 to $371.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $360.00 price objective (up previously from $345.00) on shares of Rockwell Automation in a research report on Friday, June 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $332.00.

Rockwell Automation Stock Performance

ROK traded down $1.81 during trading hours on Friday, hitting $343.14. 516,535 shares of the stock were exchanged, compared to its average volume of 865,936. The stock has a 50-day simple moving average of $315.46 and a 200-day simple moving average of $284.81. Rockwell Automation, Inc. has a 12 month low of $215.00 and a 12 month high of $348.43. The stock has a market cap of $38.68 billion, a price-to-earnings ratio of 43.22, a price-to-earnings-growth ratio of 3.88 and a beta of 1.38. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.05 and a quick ratio of 0.72.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.36. Rockwell Automation had a return on equity of 30.16% and a net margin of 11.38%. The firm had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same period last year, the business posted $2.50 earnings per share. The firm's revenue for the quarter was down 5.9% on a year-over-year basis. Analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 dividend yield of 1.53%. Rockwell Automation's dividend payout ratio (DPR) is presently 65.99%.

Insider Transactions at Rockwell Automation

In related news, SVP Matheus De A. G. Viera Bulho sold 526 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president directly owned 983 shares in the company, valued at $319,819.05. This trade represents a 34.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Tessa M. Myers sold 363 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $326.32, for a total value of $118,454.16. Following the transaction, the senior vice president owned 4,063 shares of the company's stock, valued at $1,325,838.16. This trade represents a 8.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,388 shares of company stock worth $2,307,487 over the last 90 days. Corporate insiders own 0.68% of the company's stock.

About Rockwell Automation

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.