Carnegie Investment Counsel Sells 9,600 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Carnegie Investment Counsel decreased its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 12.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 70,069 shares of the industrial products company's stock after selling 9,600 shares during the period. Carnegie Investment Counsel owned about 0.06% of Rockwell Automation worth $18,104,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ROK. Citizens National Bank Trust Department purchased a new position in shares of Rockwell Automation during the 1st quarter worth $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Rockwell Automation in the 1st quarter worth about $31,000. IMA Advisory Services Inc. acquired a new stake in Rockwell Automation in the 1st quarter worth about $32,000. Cooksen Wealth LLC purchased a new stake in Rockwell Automation in the 1st quarter valued at about $34,000. Finally, Parvin Asset Management LLC acquired a new position in shares of Rockwell Automation during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 75.75% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ROK shares. Barclays raised their target price on shares of Rockwell Automation from $350.00 to $370.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. KeyCorp upped their price objective on Rockwell Automation from $360.00 to $370.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Stephens boosted their price target on Rockwell Automation from $350.00 to $375.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. TD Cowen upgraded Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 price target for the company in a research note on Friday, May 9th. Finally, Citigroup reaffirmed a "buy" rating and issued a $392.00 price objective (up from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Rockwell Automation presently has an average rating of "Moderate Buy" and a consensus target price of $341.11.

Rockwell Automation Trading Up 0.5%

ROK stock traded up $1.86 during trading on Friday, hitting $358.87. The company had a trading volume of 642,538 shares, compared to its average volume of 782,185. Rockwell Automation, Inc. has a one year low of $215.00 and a one year high of $360.92. The company has a current ratio of 1.05, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average of $329.75 and a 200-day moving average of $289.80. The stock has a market cap of $40.45 billion, a PE ratio of 45.20, a PEG ratio of 3.64 and a beta of 1.38.

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

Rockwell Automation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be paid a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 1.46%. The ex-dividend date is Monday, August 18th. Rockwell Automation's dividend payout ratio (DPR) is presently 65.99%.

Insider Activity

In other news, SVP Matheus De A. G. Viera Bulho sold 939 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $304.24, for a total value of $285,681.36. Following the transaction, the senior vice president owned 983 shares in the company, valued at $299,067.92. The trade was a 48.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Christopher Nardecchia sold 551 shares of Rockwell Automation 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 sale, the senior vice president owned 12,711 shares in the company, valued at $4,147,726.41. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,757 shares of company stock worth $3,138,220. Company insiders own 0.68% of the company's stock.

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.