Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 1.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,913 shares of the industrial products company's stock after selling 1,489 shares during the quarter. PNC Financial Services Group Inc. owned about 0.08% of Rockwell Automation worth $22,973,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ROK. Brighton Jones LLC acquired a new stake in shares of Rockwell Automation during the fourth quarter worth $281,000. Bank Pictet & Cie Europe AG boosted its holdings in shares of 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 purchasing an additional 38 shares during the last quarter. World Investment Advisors acquired a new position in Rockwell Automation in the fourth quarter valued at $670,000. Prudential PLC boosted its holdings in Rockwell Automation by 38.0% in the fourth quarter. Prudential PLC now owns 9,269 shares of the industrial products company's stock valued at $2,649,000 after acquiring an additional 2,553 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Rockwell Automation by 4.6% in the fourth quarter. Wells Fargo & Company MN now owns 249,119 shares of the industrial products company's stock valued at $71,196,000 after acquiring an additional 11,066 shares during the last quarter. Institutional investors and hedge funds own 75.75% of the company's stock.

Wall Street Analysts Forecast Growth

ROK has been the topic of a number of research analyst reports. Stephens reiterated an "overweight" rating and issued a $375.00 target price (up previously from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. Oppenheimer lifted their target price on Rockwell Automation from $304.00 to $371.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Wells Fargo & Company boosted their price objective on Rockwell Automation from $315.00 to $365.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. boosted their price objective on Rockwell Automation from $271.00 to $299.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Finally, TD Cowen raised Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 target price on the stock in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Rockwell Automation has a consensus rating of "Moderate Buy" and an average target price of $341.11.

Rockwell Automation Trading Up 1.6%

Rockwell Automation stock opened at $350.16 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.05 and a quick ratio of 0.72. The company has a market capitalization of $39.47 billion, a price-to-earnings ratio of 44.10, a PEG ratio of 3.52 and a beta of 1.39. Rockwell Automation, Inc. has a one year low of $215.00 and a one year high of $360.92. The company's fifty day moving average price is $335.21 and its two-hundred day moving average price is $293.01.

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

Rockwell Automation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be given a dividend of $1.31 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.5%. Rockwell Automation's dividend payout ratio (DPR) is 65.99%.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, SVP Tessa M. Myers sold 363 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $326.32, for a total transaction of $118,454.16. Following the completion of the transaction, the senior vice president owned 4,063 shares in the company, valued at $1,325,838.16. This trade represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Terry L. Riesterer sold 269 shares of the firm's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $355.26, for a total transaction of $95,564.94. Following the transaction, the vice president owned 1,613 shares of the company's stock, valued at approximately $573,034.38. This represents a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,757 shares of company stock valued at $3,138,220 over the last quarter. Company insiders own 0.68% of the company's stock.

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.

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