Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by AGF Management Ltd.

Key Points

• AGF Management Ltd. has significantly reduced its stake in Rockwell Automation by 83.1%, selling 110,004 shares, leaving them with 22,397 shares valued at approximately $5.79 million.
• Rockwell Automation reported a 4.5% year-over-year revenue increase in its latest earnings, generating $2.14 billion and beating the consensus estimate of $2.07 billion.
• The company announced a quarterly dividend of $1.31 per share, which will be paid on September 10th and represents an annualized yield of 1.5%.

AGF Management Ltd. lessened its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 83.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,397 shares of the industrial products company's stock after selling 110,004 shares during the quarter. AGF Management Ltd.'s holdings in Rockwell Automation were worth $5,787,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake in shares of Rockwell Automation by 8.5% during the first quarter. Fifth Third Bancorp now owns 5,424 shares of the industrial products company's stock valued at $1,401,000 after buying an additional 423 shares during the last quarter. CWM LLC boosted its holdings in shares of Rockwell Automation by 3.7% during the first quarter. CWM LLC now owns 2,353 shares of the industrial products company's stock worth $608,000 after purchasing an additional 84 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Rockwell Automation by 0.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company's stock worth $1,462,000 after purchasing an additional 43 shares during the period. Brighton Jones LLC purchased a new stake in shares of Rockwell Automation during the fourth quarter worth about $281,000. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of Rockwell Automation by 128.7% during the first quarter. J.W. Cole Advisors Inc. now owns 4,382 shares of the industrial products company's stock worth $1,132,000 after purchasing an additional 2,466 shares during the period. Institutional investors own 75.75% of the company's stock.

Rockwell Automation Stock Performance

NYSE:ROK traded down $4.56 during trading hours on Friday, reaching $342.95. The company had a trading volume of 959,552 shares, compared to its average volume of 1,051,563. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. Rockwell Automation, Inc. has a 52 week low of $215.00 and a 52 week high of $360.92. The firm has a market cap of $38.56 billion, a price-to-earnings ratio of 40.25, a PEG ratio of 3.57 and a beta of 1.39. The firm's 50 day moving average price is $339.14 and its 200-day moving average price is $296.12.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.07 billion. During the same quarter last year, the company posted $2.71 EPS. The company's revenue was up 4.5% compared to the same quarter last year. On average, analysts forecast that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders 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 1.5%. The ex-dividend date is Monday, August 18th. Rockwell Automation's payout ratio is currently 61.50%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Citigroup restated a "buy" rating and issued a $392.00 price objective (up from $371.00) on shares of Rockwell Automation in a report on Monday, July 14th. Bank of America raised shares of Rockwell Automation from a "neutral" rating to a "buy" rating and raised their target price for the company from $360.00 to $410.00 in a research note on Wednesday, July 16th. Loop Capital raised their target price on shares of Rockwell Automation from $280.00 to $290.00 and gave the company a "hold" rating in a research note on Thursday, May 15th. KeyCorp raised their target price on shares of Rockwell Automation from $370.00 to $380.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Rockwell Automation from $271.00 to $299.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. One 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 company. According to MarketBeat.com, Rockwell Automation presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.16.

Insider Buying and Selling

In other news, VP Isaac Woods sold 297 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $326.31, for a total value of $96,914.07. Following the sale, the vice president directly owned 1,691 shares in the company, valued at $551,790.21. The trade was a 14.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $118,454.16. Following the completion of the sale, the senior vice president 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 disclosure for this sale can be found here. Insiders sold a total of 5,818 shares of company stock worth $1,944,708 in the last 90 days. 0.68% of the stock is owned by company insiders.

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.