Paloma Partners Management Co Has $258,000 Stock Position in Rockwell Automation, Inc. $ROK

Key Points

• Paloma Partners Management Co significantly reduced its stake in Rockwell Automation by 96.4% during the first quarter, leaving it with only 1,000 shares after selling 26,500 shares.
• Rockwell Automation reported better-than-expected quarterly earnings of $2.82 EPS, exceeding analysts' estimates of $2.67, with a revenue of $2.14 billion.
• The company is set to pay a quarterly dividend of $1.31 per share on September 10th, representing an annualized yield of 1.5%.

Paloma Partners Management Co decreased its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 96.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,000 shares of the industrial products company's stock after selling 26,500 shares during the quarter. Paloma Partners Management Co's holdings in Rockwell Automation were worth $258,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ROK. Brighton Jones LLC acquired a new position in shares of Rockwell Automation during the 4th quarter worth $281,000. Bank Pictet & Cie Europe AG increased its stake in shares of Rockwell Automation by 0.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company's stock worth $1,199,000 after purchasing an additional 38 shares during the last quarter. Accredited Wealth Management LLC acquired a new position in shares of Rockwell Automation during the 4th quarter worth $47,000. AXA S.A. boosted its holdings in shares of Rockwell Automation by 579.6% during the 4th quarter. AXA S.A. now owns 16,221 shares of the industrial products company's stock worth $4,636,000 after buying an additional 13,834 shares during the period. Finally, Aptus Capital Advisors LLC boosted its holdings in shares of Rockwell Automation by 15.2% during the 4th quarter. Aptus Capital Advisors LLC now owns 2,188 shares of the industrial products company's stock worth $625,000 after buying an additional 288 shares during the period. Institutional investors and hedge funds own 75.75% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ROK. Wells Fargo & Company set a $345.00 price objective on shares of Rockwell Automation and gave the stock an "equal weight" rating in a report on Friday, August 8th. Wall Street Zen raised shares of Rockwell Automation from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Stephens reaffirmed an "overweight" rating and set a $375.00 price objective (up from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. Bank of America raised shares of Rockwell Automation from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $360.00 to $410.00 in a report on Wednesday, July 16th. Finally, Citigroup reaffirmed a "buy" rating and set a $392.00 price objective (up from $371.00) on shares of Rockwell Automation in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Rockwell Automation has a consensus rating of "Moderate Buy" and an average target price of $340.16.

Insider Activity at Rockwell Automation

In other news, SVP Cyril Perducat sold 1,435 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $348.08, for a total transaction of $499,494.80. Following the completion of the transaction, the senior vice president directly owned 3,787 shares of the company's stock, valued at approximately $1,318,178.96. This trade represents a 27.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James P. Keane sold 3,000 shares of the firm's stock in a transaction dated 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 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 9,445 shares of company stock worth $3,267,779 in the last ninety days. Company insiders own 0.68% of the company's stock.

Rockwell Automation Stock Performance

Rockwell Automation stock traded down $2.61 during mid-day trading on Friday, reaching $339.26. The company had a trading volume of 539,564 shares, compared to its average volume of 831,771. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.72. Rockwell Automation, Inc. has a 52 week low of $215.00 and a 52 week high of $360.92. The company has a 50 day moving average of $345.38 and a 200-day moving average of $302.21. The firm has a market cap of $38.14 billion, a price-to-earnings ratio of 39.82, a PEG ratio of 3.52 and a beta of 1.41.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, beating analysts' consensus estimates of $2.67 by $0.15. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the prior year, the firm earned $2.71 EPS. The business's revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be issued a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation's dividend payout ratio (DPR) 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.