Retirement Planning Co of New England Inc. acquired a new position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,230 shares of the industrial products company's stock, valued at approximately $576,000.
A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Rockwell Automation by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 13,876,530 shares of the industrial products company's stock worth $3,965,774,000 after acquiring an additional 81,079 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Rockwell Automation by 6.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,115,280 shares of the industrial products company's stock worth $2,033,476,000 after acquiring an additional 432,934 shares during the period. Geode Capital Management LLC lifted its position in shares of Rockwell Automation by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 2,734,430 shares of the industrial products company's stock worth $779,426,000 after acquiring an additional 51,228 shares during the period. Invesco Ltd. lifted its position in shares of Rockwell Automation by 3.9% in the 4th quarter. Invesco Ltd. now owns 1,417,323 shares of the industrial products company's stock worth $405,057,000 after acquiring an additional 53,287 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Rockwell Automation by 14.1% in the 4th quarter. Northern Trust Corp now owns 1,391,331 shares of the industrial products company's stock worth $397,628,000 after acquiring an additional 171,604 shares during the period. Institutional investors own 75.75% of the company's stock.
Rockwell Automation Stock Performance
ROK stock opened at $356.82 on Friday. The business's 50-day moving average price is $323.60 and its two-hundred day moving average price is $286.79. The company has a current ratio of 1.05, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The firm has a market cap of $40.22 billion, a PE ratio of 44.94, a P/E/G ratio of 3.95 and a beta of 1.38. Rockwell Automation, Inc. has a 1-year low of $215.00 and a 1-year high of $360.00.
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 for the quarter, topping the consensus estimate of $2.09 by $0.36. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. Rockwell Automation had a return on equity of 30.16% and a net margin of 11.38%. The company's revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.50 earnings per share. As a group, research analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current 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. The ex-dividend date of this dividend is Monday, August 18th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.47%. Rockwell Automation's dividend payout ratio (DPR) is 65.99%.
Wall Street Analyst Weigh In
ROK has been the subject of several analyst reports. Loop Capital raised their target price on Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Thursday, May 15th. TD Cowen raised Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 price target for the company in a report on Friday, May 9th. KeyCorp raised their price target on Rockwell Automation from $360.00 to $370.00 and gave the company an "overweight" rating in a report on Tuesday. Citigroup reaffirmed a "buy" rating and set a $392.00 price target (up from $371.00) on shares of Rockwell Automation in a report on Monday. Finally, Bank of America raised Rockwell Automation from a "neutral" rating to a "buy" rating and lifted their target price for the company from $360.00 to $410.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $341.11.
Get Our Latest Research Report on Rockwell Automation
Insider Buying and Selling
In other news, SVP Tessa M. Myers sold 363 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $326.32, for a total value of $118,454.16. Following the sale, the senior vice president directly owned 4,063 shares in the company, valued at $1,325,838.16. The trade was a 8.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Matthew W. Fordenwalt sold 289 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $326.33, for a total value of $94,309.37. Following the completion of the sale, the senior vice president owned 3,196 shares in the company, valued at approximately $1,042,950.68. This trade represents a 8.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,757 shares of company stock valued at $3,138,220. Corporate insiders own 0.68% of the company's stock.
About Rockwell Automation
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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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