Rockwell Automation, Inc. (NYSE:ROK) Position Boosted by WIM INVESTMENT MANAGEMENT Ltd

Key Points

• WIM INVESTMENT MANAGEMENT Ltd raised its stake in Rockwell Automation by 28.9% in the first quarter, now holding 51,500 shares valued at approximately $13.3 million, making it the fund's 6th largest investment.
• Rockwell Automation received favorable ratings from multiple analysts, with Wells Fargo raising their target price to $365 and Bank of America upgrading the stock to a "buy" with a new target of $410.
• The company recently announced a quarterly dividend of $1.31 per share, translating to an annualized yield of 1.47%, with a payout ratio of 65.99%.

WIM INVESTMENT MANAGEMENT Ltd increased its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 28.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,500 shares of the industrial products company's stock after acquiring an additional 11,550 shares during the period. Rockwell Automation comprises approximately 5.6% of WIM INVESTMENT MANAGEMENT Ltd's portfolio, making the stock its 6th biggest holding. WIM INVESTMENT MANAGEMENT Ltd's holdings in Rockwell Automation were worth $13,307,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Citizens National Bank Trust Department purchased a new position in shares of Rockwell Automation during the 1st quarter valued at $26,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Rockwell Automation in the first quarter valued at $31,000. IMA Advisory Services Inc. bought a new stake in shares of Rockwell Automation during the 1st quarter valued at $32,000. Cooksen Wealth LLC purchased a new stake in Rockwell Automation during the 1st quarter worth about $34,000. Finally, Parvin Asset Management LLC bought a new position in Rockwell Automation in the 4th quarter worth about $36,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of Rockwell Automation from $315.00 to $365.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Bank of America upgraded shares of 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 report on Wednesday, July 16th. Stephens reissued an "overweight" rating and issued a $375.00 price target (up previously from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. JPMorgan Chase & Co. raised their price objective on shares of Rockwell Automation from $271.00 to $299.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Barclays increased their price objective on Rockwell Automation from $350.00 to $370.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Rockwell Automation presently has an average rating of "Moderate Buy" and a consensus price target of $341.11.

Rockwell Automation Trading Down 0.7%

NYSE ROK opened at $356.04 on Tuesday. The stock has a 50 day simple moving average of $330.71 and a two-hundred day simple moving average of $290.52. The stock has a market cap of $40.13 billion, a P/E ratio of 44.84, a price-to-earnings-growth ratio of 3.66 and a beta of 1.38. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 1.05. Rockwell Automation, Inc. has a fifty-two week low of $215.00 and a fifty-two week high of $360.92.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.09 by $0.36. The business had revenue of $2 billion during 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 quarter last year, the firm posted $2.50 earnings per share. On average, analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Monday, August 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.47%. Rockwell Automation's payout ratio is 65.99%.

Insider Activity

In related news, SVP Tessa M. Myers sold 363 shares of the company's stock in a transaction that occurred on 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 owned 4,063 shares in the company, valued at $1,325,838.16. This represents a 8.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Christopher Nardecchia sold 551 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $326.31, for a total value of $179,796.81. Following the completion of the sale, the senior vice president directly owned 12,711 shares in the company, valued at $4,147,726.41. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,757 shares of company stock valued at $3,138,220. 0.68% of the stock is currently owned by insiders.

Rockwell Automation Company 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.

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