Perigon Wealth Management LLC Acquires New Holdings in Rockwell Automation, Inc. $ROK

Perigon Wealth Management LLC bought a new position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,180 shares of the industrial products company's stock, valued at approximately $1,574,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Castle Rock Wealth Management LLC raised its position in shares of Rockwell Automation by 2.2% in the second quarter. Castle Rock Wealth Management LLC now owns 1,038 shares of the industrial products company's stock valued at $501,000 after purchasing an additional 22 shares during the period. Richards Merrill & Peterson Inc. grew its stake in Rockwell Automation by 1.9% in the 1st quarter. Richards Merrill & Peterson Inc. now owns 1,358 shares of the industrial products company's stock valued at $487,000 after buying an additional 25 shares during the last quarter. Cidel Asset Management Inc. grew its stake in Rockwell Automation by 4.6% in the 1st quarter. Cidel Asset Management Inc. now owns 574 shares of the industrial products company's stock valued at $206,000 after buying an additional 25 shares during the last quarter. HBK Sorce Advisory LLC raised its holdings in Rockwell Automation by 0.7% in the 4th quarter. HBK Sorce Advisory LLC now owns 3,719 shares of the industrial products company's stock worth $1,544,000 after acquiring an additional 27 shares during the period. Finally, Johnson Investment Counsel Inc. raised its holdings in Rockwell Automation by 1.9% in the 4th quarter. Johnson Investment Counsel Inc. now owns 1,412 shares of the industrial products company's stock worth $549,000 after acquiring an additional 27 shares during the period. Institutional investors and hedge funds own 75.75% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Morgan Stanley reiterated an "overweight" rating and issued a $525.00 price objective on shares of Rockwell Automation in a research note on Wednesday, May 6th. BNP Paribas Exane increased their target price on Rockwell Automation from $495.00 to $515.00 in a research note on Wednesday, May 6th. JPMorgan Chase & Co. raised their target price on Rockwell Automation from $404.00 to $417.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. HSBC lifted their price target on Rockwell Automation from $445.00 to $490.00 in a research report on Wednesday, May 6th. Finally, Zacks Research lowered Rockwell Automation from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 30th. Nine investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $468.67.

Rockwell Automation Stock Down 0.8%

ROK stock opened at $445.69 on Tuesday. Rockwell Automation, Inc. has a twelve month low of $332.71 and a twelve month high of $497.36. The company has a quick ratio of 0.74, a current ratio of 1.08 and a debt-to-equity ratio of 0.74. The company has a market cap of $49.49 billion, a PE ratio of 41.77, a price-to-earnings-growth ratio of 2.62 and a beta of 1.54. The business's 50-day simple moving average is $463.60 and its 200 day simple moving average is $426.67.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.38 by $0.11. Rockwell Automation had a return on equity of 39.83% and a net margin of 13.39%.The firm had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.24 billion. During the same quarter in the prior year, the firm posted $2.82 EPS. The company's revenue for the quarter was up 7.9% on a year-over-year basis. Rockwell Automation has set its FY 2026 guidance at 13.000-13.300 EPS. On average, research analysts anticipate that Rockwell Automation, Inc. will post 13.22 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, August 17th. Rockwell Automation's dividend payout ratio is presently 51.73%.

Rockwell Automation declared that its Board of Directors has approved a share repurchase program on Tuesday, June 9th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Rockwell Automation

In related news, VP John M. Miller sold 1,054 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $426.02, for a total value of $449,025.08. Following the completion of the transaction, the vice president directly owned 5,615 shares of the company's stock, valued at $2,392,102.30. This trade represents a 15.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Matthew W. Fordenwalt sold 377 shares of the business's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $460.51, for a total transaction of $173,612.27. Following the completion of the sale, the senior vice president directly owned 4,437 shares in the company, valued at $2,043,282.87. This trade represents a 7.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,649 shares of company stock valued at $722,119. 0.76% of the stock is owned by company insiders.

About Rockwell Automation

Rockwell Automation is a global industrial automation and digital transformation company headquartered in Milwaukee, Wisconsin. The firm designs, manufactures and supports control systems, industrial control hardware and software, and related services that help manufacturers and industrial operators automate processes, improve productivity and enable data-driven decision making. Rockwell traces its heritage to the Allen-Bradley and Rockwell automation businesses and positions itself as a provider of integrated automation solutions across discrete and process industries.

The company's product portfolio includes programmable logic controllers (PLCs), human-machine interfaces (HMIs), variable frequency drives, sensors, safety components and other industrial control hardware, often marketed under the Allen-Bradley brand.

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