Night Squared LP Takes Position in Rockwell Automation, Inc. $ROK

Key Points

• Night Squared LP acquired a new stake worth approximately $3.71 million in Rockwell Automation, owning around 14,355 shares, which represent 2.2% of its portfolio.
• During the first quarter, institutional investors made significant adjustments to their holdings, including GAMMA Investing LLC which increased its stake by 29,844.4%.
• Rockwell Automation recently announced a quarterly dividend of $1.31 per share, with an annualized yield of 1.5% and a payout ratio of 61.50%.

Night Squared LP bought a new position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 14,355 shares of the industrial products company's stock, valued at approximately $3,709,000. Rockwell Automation comprises approximately 2.2% of Night Squared LP's portfolio, making the stock its 23rd biggest position.

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

Rockwell Automation Stock Down 1.6%

Shares of Rockwell Automation stock traded down $5.62 during trading on Tuesday, reaching $337.81. The stock had a trading volume of 1,076,705 shares, compared to its average volume of 1,039,685. The company has a market capitalization of $37.98 billion, a price-to-earnings ratio of 35.89, a P/E/G ratio of 3.53 and a beta of 1.41. The stock has a fifty day moving average price of $344.34 and a two-hundred day moving average price of $301.11. Rockwell Automation, Inc. has a 52 week low of $215.00 and a 52 week high of $360.92. 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 (NYSE:ROK - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $2.14 billion for 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 company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.71 earnings per share. Sell-side analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be issued 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 payout ratio is 61.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ROK shares. KeyCorp lifted their price objective on Rockwell Automation from $370.00 to $380.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Citigroup reaffirmed a "buy" rating and set a $392.00 price objective (up from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. CICC Research assumed coverage on Rockwell Automation in a research note on Monday, July 7th. They issued an "outperform" rating and a $381.00 target price for the company. Oppenheimer decreased their target price on Rockwell Automation from $371.00 to $363.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their target price on Rockwell Automation from $271.00 to $299.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Rockwell Automation presently has a consensus rating of "Moderate Buy" and a consensus price target of $340.16.

Insider Activity

In related news, Director James P. Keane sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $356.06, for a total transaction 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 approximately $3,272,903.52. This represents a 24.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Christopher Nardecchia sold 551 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $326.31, for a total value of $179,796.81. Following the transaction, the senior vice president directly owned 12,711 shares of the company's stock, valued at $4,147,726.41. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,145 shares of company stock valued at $2,801,114. Corporate insiders own 0.68% of the company's stock.

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.