Public Sector Pension Investment Board Buys 1,287 Shares of Rockwell Automation, Inc. $ROK

Public Sector Pension Investment Board increased its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,367 shares of the industrial products company's stock after purchasing an additional 1,287 shares during the period. Public Sector Pension Investment Board's holdings in Rockwell Automation were worth $3,971,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ROK. Longfellow Investment Management Co. LLC bought a new stake in Rockwell Automation during the first quarter worth about $633,000. First American Trust FSB boosted its position in shares of Rockwell Automation by 1.1% during the 1st quarter. First American Trust FSB now owns 24,145 shares of the industrial products company's stock valued at $6,239,000 after acquiring an additional 268 shares during the last quarter. SouthState Corp boosted its position in shares of Rockwell Automation by 3.6% during the 1st quarter. SouthState Corp now owns 47,831 shares of the industrial products company's stock valued at $12,359,000 after acquiring an additional 1,656 shares during the last quarter. Nuveen LLC bought a new stake in shares of Rockwell Automation during the 1st quarter valued at about $63,632,000. Finally, Virtu Financial LLC bought a new stake in shares of Rockwell Automation during the 1st quarter valued at about $1,495,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on ROK. TD Cowen upgraded Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 price objective for the company in a research report on Friday, May 9th. Citigroup reaffirmed a "buy" rating and issued a $392.00 price target (up from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. Loop Capital increased their target price on Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Thursday, May 15th. CICC Research began coverage on Rockwell Automation in a report on Monday, July 7th. They set an "outperform" rating and a $381.00 price target on the stock. Finally, Wall Street Zen raised Rockwell Automation from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $340.16.

Rockwell Automation Stock Performance

ROK traded down $0.0550 during midday trading on Thursday, reaching $339.5650. The company had a trading volume of 265,883 shares, compared to its average volume of 942,806. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average of $340.16 and a two-hundred day moving average of $297.42. The company has a market cap of $38.18 billion, a P/E ratio of 39.88, a P/E/G ratio of 3.53 and a beta of 1.39. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $360.92.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.15. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.07 billion. During the same quarter last year, the business posted $2.71 earnings per share. The firm's revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be issued a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, August 18th. Rockwell Automation's dividend payout ratio (DPR) is currently 61.50%.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, SVP Matthew W. Fordenwalt sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $320.02, for a total transaction of $160,010.00. Following the completion of the transaction, the senior vice president owned 2,709 shares in the company, valued at $866,934.18. This trade represents a 15.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 shares were sold at an average price of $325.35, for a total value of $171,134.10. Following the transaction, the senior vice president owned 983 shares of the company's stock, valued at $319,819.05. This represents a 34.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,818 shares of company stock worth $1,944,708 over the last three months. 0.68% of the stock is owned by company insiders.

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.