National Bank of Canada FI Acquires 37,260 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Key Points

• National Bank of Canada FI increased its stake in Rockwell Automation by 44.2%, owning a total of 121,610 shares worth approximately $31.4 million as reported in a recent SEC filing.
• Several other institutional investors also increased their holdings, with Citigroup lifting its position by 57% and Ontario Teachers Pension Plan Board growing its position by 422% during the first quarter.
• Rockwell Automation announced a quarterly dividend of $1.31 per share, set to be paid on September 10th, further demonstrating the company's commitment to returning value to its shareholders.

National Bank of Canada FI grew its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 44.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,610 shares of the industrial products company's stock after purchasing an additional 37,260 shares during the period. National Bank of Canada FI owned approximately 0.11% of Rockwell Automation worth $31,415,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ROK. Brighton Jones LLC bought a new stake in Rockwell Automation during the fourth quarter worth about $281,000. Bank Pictet & Cie Europe AG boosted its stake in Rockwell Automation by 0.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company's stock worth $1,199,000 after acquiring an additional 38 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Rockwell Automation by 6.6% during the fourth quarter. Russell Investments Group Ltd. now owns 34,990 shares of the industrial products company's stock worth $9,998,000 after acquiring an additional 2,174 shares in the last quarter. Bank of Nova Scotia boosted its stake in Rockwell Automation by 3.7% during the fourth quarter. Bank of Nova Scotia now owns 15,089 shares of the industrial products company's stock worth $4,312,000 after acquiring an additional 540 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Rockwell Automation during the fourth quarter worth about $32,532,000. Institutional investors own 75.75% of the company's stock.

Rockwell Automation Price Performance

Shares of NYSE:ROK traded up $9.34 during midday trading on Wednesday, reaching $349.09. 1,085,751 shares of the company were exchanged, compared to its average volume of 948,395. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. The business's fifty day moving average is $337.63 and its two-hundred day moving average is $294.89. Rockwell Automation, Inc. has a one year low of $215.00 and a one year high of $360.92. The stock has a market cap of $39.25 billion, a PE ratio of 40.97, a price-to-earnings-growth ratio of 3.39 and a beta of 1.39.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, topping 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 firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the business earned $2.71 earnings per share. Rockwell Automation's revenue for the quarter was up 4.5% on a year-over-year basis. As a group, analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

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

Insiders Place Their Bets

In other news, SVP Tessa M. Myers sold 363 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $326.32, for a total transaction of $118,454.16. Following the transaction, the senior vice president directly owned 4,063 shares in the company, valued at approximately $1,325,838.16. This trade represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Christopher Nardecchia sold 551 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $326.31, for a total transaction of $179,796.81. Following the transaction, the senior vice president owned 12,711 shares in the company, valued at approximately $4,147,726.41. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,818 shares of company stock worth $1,944,708. 0.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ROK shares. JPMorgan Chase & Co. boosted their price objective on shares of Rockwell Automation from $271.00 to $299.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. KeyCorp boosted their price objective on shares of Rockwell Automation from $370.00 to $380.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Stephens reissued an "overweight" rating and set a $375.00 price objective (up previously from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. Barclays dropped their price objective on shares of Rockwell Automation from $370.00 to $357.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Finally, CICC Research began coverage on shares of Rockwell Automation in a research note on Monday, July 7th. They issued an "outperform" rating and a $381.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $339.47.

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.