Prudential PLC Boosts Stock Position in Rockwell Automation, Inc. $ROK

Key Points

• Prudential PLC increased its stake in Rockwell Automation by 37.7%, owning a total of 12,763 shares valued at approximately $3.3 million as of the latest SEC filing.
• A variety of brokerages have recently adjusted their ratings on Rockwell Automation, with Bank of America upgrading the stock from "neutral" to "buy" and raising the price target to $410.
• Rockwell Automation's recent quarterly earnings showed revenue growth of 4.5% year-over-year, with an earnings per share (EPS) of $2.82 exceeding analyst expectations.

Prudential PLC raised its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 37.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,763 shares of the industrial products company's stock after purchasing an additional 3,494 shares during the quarter. Prudential PLC's holdings in Rockwell Automation were worth $3,298,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC bought a new position in Rockwell Automation during the 4th quarter worth approximately $281,000. Bank Pictet & Cie Europe AG grew its stake in Rockwell Automation by 0.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company's stock valued at $1,199,000 after purchasing an additional 38 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Rockwell Automation during the fourth quarter worth $32,532,000. Savvy Advisors Inc. purchased a new stake in Rockwell Automation during the fourth quarter valued at about $213,000. Finally, Cohen & Steers Inc. lifted its position in Rockwell Automation by 17.9% in the fourth quarter. Cohen & Steers Inc. now owns 1,174 shares of the industrial products company's stock valued at $336,000 after purchasing an additional 178 shares during the last quarter. Institutional investors and hedge funds own 75.75% of the company's stock.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, SVP Matheus De A. G. Viera Bulho sold 526 shares of Rockwell Automation stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $325.35, for a total transaction of $171,134.10. Following the completion of the sale, the senior vice president directly owned 983 shares of the company's stock, valued at $319,819.05. The trade was a 34.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Terry L. Riesterer sold 2,100 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $350.08, for a total value of $735,168.00. Following the completion of the transaction, the vice president directly owned 1,033 shares of the company's stock, valued at approximately $361,632.64. The trade was a 67.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,818 shares of company stock worth $1,944,708 over the last quarter. 0.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ROK. Stephens restated an "overweight" rating and set a $375.00 target price (up from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. TD Cowen raised shares of Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 target price for the company in a research note on Friday, May 9th. Barclays upped their price target on shares of Rockwell Automation from $357.00 to $370.00 and gave the stock an "overweight" rating in a research report on Thursday. Oppenheimer cut their price objective on shares of Rockwell Automation from $371.00 to $363.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded Rockwell Automation from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $340.16.

Rockwell Automation Stock Performance

Shares of Rockwell Automation stock traded up $0.38 during trading hours on Monday, reaching $341.35. The company had a trading volume of 234,522 shares, compared to its average volume of 944,335. The business has a fifty day simple moving average of $339.14 and a 200 day simple moving average of $296.36. The firm has a market cap of $38.38 billion, a PE ratio of 40.07, a price-to-earnings-growth ratio of 3.52 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72. Rockwell Automation, Inc. has a one year low of $215.00 and a one year high of $360.92.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, beating analysts' consensus estimates of $2.67 by $0.15. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the business earned $2.71 EPS. Rockwell Automation's revenue was up 4.5% compared to the same quarter last year. On average, analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

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

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.