Kentucky Retirement Systems Insurance Trust Fund cut its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 33.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,287 shares of the industrial products company's stock after selling 1,624 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Rockwell Automation were worth $849,000 at the end of the most recent reporting period.
Other large 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 worth $1,401,000 after acquiring an additional 423 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Rockwell Automation by 39.1% in the fourth quarter. Teacher Retirement System of Texas now owns 1,063 shares of the industrial products company's stock valued at $304,000 after acquiring an additional 299 shares during the period. Brighton Jones LLC acquired a new position in Rockwell Automation in the fourth quarter valued at approximately $281,000. Schroder Investment Management Group lifted its holdings in Rockwell Automation by 14.9% in the fourth quarter. Schroder Investment Management Group now owns 14,478 shares of the industrial products company's stock valued at $4,135,000 after acquiring an additional 1,872 shares during the period. Finally, Banque Transatlantique SA acquired a new position in shares of Rockwell Automation during the 4th quarter worth approximately $8,289,000. 75.75% of the stock is currently owned by institutional investors.
Insider Activity at Rockwell Automation
In other Rockwell Automation news, VP Terry L. Riesterer sold 2,500 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $304.13, for a total transaction of $760,325.00. Following the sale, the vice president now directly owns 1,033 shares in the company, valued at approximately $314,166.29. The trade was a 70.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Tessa M. Myers sold 363 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $326.32, for a total value of $118,454.16. Following the sale, the senior vice president now owns 4,063 shares in the company, valued at approximately $1,325,838.16. The trade was a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,681 shares of company stock worth $2,382,987 over the last three months. 0.68% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on ROK. TD Cowen raised 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. BNP Paribas upgraded Rockwell Automation from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 9th. Loop Capital upped their target price on Rockwell Automation from $280.00 to $290.00 and gave the company a "hold" rating in a report on Thursday, May 15th. KeyCorp reiterated an "overweight" rating and set a $360.00 price target (up from $345.00) on shares of Rockwell Automation in a report on Friday, June 13th. Finally, Wells Fargo & Company increased their price target on Rockwell Automation from $265.00 to $315.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Rockwell Automation presently has an average rating of "Moderate Buy" and a consensus price target of $317.79.
View Our Latest Research Report on ROK
Rockwell Automation Stock Down 1.0%
Shares of NYSE ROK traded down $3.33 during midday trading on Wednesday, hitting $322.62. 646,320 shares of the company's stock were exchanged, compared to its average volume of 871,517. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.05 and a quick ratio of 0.72. Rockwell Automation, Inc. has a twelve month low of $215.00 and a twelve month high of $328.90. The company has a market cap of $36.37 billion, a PE ratio of 40.63, a P/E/G ratio of 3.78 and a beta of 1.38. The firm's fifty day simple moving average is $293.97 and its 200-day simple moving average is $281.40.
Rockwell Automation (NYSE:ROK - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $1.97 billion. Rockwell Automation had a return on equity of 30.16% and a net margin of 11.38%. The firm's quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.50 EPS. Research analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.
Rockwell Automation Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 dividend yield of 1.62%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation's payout ratio is currently 65.99%.
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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