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Rockwell Automation, Inc. (NYSE:ROK) Position Raised by Envestnet Asset Management Inc.

Rockwell Automation logo with Computer and Technology background

Envestnet Asset Management Inc. increased its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 46.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279,852 shares of the industrial products company's stock after purchasing an additional 88,713 shares during the period. Envestnet Asset Management Inc. owned 0.25% of Rockwell Automation worth $72,308,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in shares of Rockwell Automation in the fourth quarter valued at $281,000. Bank Pictet & Cie Europe AG increased its holdings in shares of Rockwell Automation by 0.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company's stock valued at $1,199,000 after buying an additional 38 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Rockwell Automation by 6.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,044 shares of the industrial products company's stock valued at $298,000 after buying an additional 63 shares in the last quarter. Atria Investments Inc increased its holdings in shares of Rockwell Automation by 67.8% in the fourth quarter. Atria Investments Inc now owns 2,163 shares of the industrial products company's stock valued at $618,000 after buying an additional 874 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Rockwell Automation in the fourth quarter valued at $56,887,000. Institutional investors own 75.75% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on ROK. Wells Fargo & Company upped their price target on Rockwell Automation from $315.00 to $365.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Citigroup upped their price target on Rockwell Automation from $327.00 to $371.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. lifted their price objective on shares of Rockwell Automation from $271.00 to $299.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Bank of America lifted their price objective on shares of Rockwell Automation from $330.00 to $360.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Finally, TD Cowen upgraded shares of Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 price objective on the stock in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $332.00.

Check Out Our Latest Report on ROK

Rockwell Automation Trading Down 0.5%

Rockwell Automation stock opened at $343.14 on Friday. The company's fifty day simple moving average is $317.25 and its 200-day simple moving average is $285.16. The company has a quick ratio of 0.72, a current ratio of 1.05 and a debt-to-equity ratio of 0.71. Rockwell Automation, Inc. has a 12 month low of $215.00 and a 12 month high of $348.43. The stock has a market cap of $38.68 billion, a P/E ratio of 43.22, a P/E/G ratio of 3.88 and a beta of 1.38.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.09 by $0.36. The firm had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.97 billion. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. Rockwell Automation's revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.50 earnings per share. As a group, sell-side analysts forecast that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be issued a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation's dividend payout ratio is presently 65.99%.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, SVP Matheus De A. G. Viera Bulho sold 526 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $325.35, for a total transaction of $171,134.10. Following the completion of the transaction, the senior vice president owned 983 shares of the company's stock, valued at $319,819.05. The trade was a 34.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $179,796.81. Following the transaction, the senior vice president directly owned 12,711 shares of the company's stock, valued at approximately $4,147,726.41. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,388 shares of company stock valued at $2,307,487 in the last three months. 0.68% of the stock is currently owned by company insiders.

About Rockwell Automation

(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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Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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