Ninety One UK Ltd decreased its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 85.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 82,437 shares of the industrial products company's stock after selling 490,488 shares during the period. Ninety One UK Ltd owned 0.07% of Rockwell Automation worth $21,300,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the company. Fifth Third Bancorp lifted its holdings in Rockwell Automation by 8.5% during the first quarter. Fifth Third Bancorp now owns 5,424 shares of the industrial products company's stock worth $1,401,000 after buying an additional 423 shares during the period. Teacher Retirement System of Texas increased its position in shares of Rockwell Automation by 39.1% during the fourth quarter. Teacher Retirement System of Texas now owns 1,063 shares of the industrial products company's stock worth $304,000 after purchasing an additional 299 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Rockwell Automation by 0.8% during the first 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 acquired a new position in shares of Rockwell Automation during the fourth quarter worth $281,000. Finally, Schroder Investment Management Group increased its position in shares of Rockwell Automation by 14.9% during the fourth quarter. Schroder Investment Management Group now owns 14,478 shares of the industrial products company's stock worth $4,135,000 after purchasing an additional 1,872 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on ROK. Wells Fargo & Company upped their price target on Rockwell Automation from $315.00 to $365.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. KeyCorp reaffirmed an "overweight" rating and set a $360.00 price target (up from $345.00) on shares of Rockwell Automation in a research report on Friday, June 13th. Loop Capital upped their price target on Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Thursday, May 15th. Citigroup upped their target price on Rockwell Automation from $327.00 to $371.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. upped their target price on Rockwell Automation from $271.00 to $299.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $332.00.
View Our Latest Stock Analysis on ROK
Insider Buying and Selling at Rockwell Automation
In related news, SVP Tessa M. Myers sold 363 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $326.32, for a total value of $118,454.16. Following the transaction, the senior vice president directly owned 4,063 shares of the company's stock, valued at approximately $1,325,838.16. This trade represents a 8.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Christopher Nardecchia sold 551 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $326.31, for a total transaction of $179,796.81. Following the completion of the transaction, the senior vice president directly owned 12,711 shares in the company, valued at $4,147,726.41. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,388 shares of company stock worth $2,307,487. 0.68% of the stock is currently owned by company insiders.
Rockwell Automation Price Performance
Shares of ROK stock traded down $1.81 during mid-day trading on Friday, hitting $343.14. 510,802 shares of the stock were exchanged, compared to its average volume of 865,319. The firm has a fifty day moving average of $315.46 and a 200 day moving average of $284.81. The company has a quick ratio of 0.72, a current ratio of 1.05 and a debt-to-equity ratio of 0.71. Rockwell Automation, Inc. has a 52-week low of $215.00 and a 52-week high of $348.43. The company has a market cap of $38.68 billion, a PE ratio of 43.22, a price-to-earnings-growth ratio of 3.83 and a beta of 1.38.
Rockwell Automation (NYSE:ROK - Get Free Report) last posted its earnings results 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 net margin of 11.38% and a return on equity of 30.16%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the company posted $2.50 EPS. The company's revenue for the quarter was down 5.9% on a year-over-year basis. Research analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.
Rockwell Automation Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be paid a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation's payout ratio is currently 65.99%.
About Rockwell Automation
(
Free Report)
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.
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