Canada Pension Plan Investment Board Raises Holdings in Rockwell Automation, Inc. $ROK

Key Points

• The Canada Pension Plan Investment Board increased its stake in Rockwell Automation, Inc. by 84.7%, owning 147,659 shares valued at approximately $38.15 million after acquiring 67,725 shares in the first quarter.
• Goldman Sachs raised its shareholding by 11.8%, now owning about 1.82 million shares worth $470 million, while other major investors like Charles Schwab and Invesco also increased their positions.
• Rockwell Automation reported earnings of $2.82 EPS, beating estimates, and announced a quarterly dividend of $1.31 per share, representing an annualized yield of 1.5%.

Canada Pension Plan Investment Board raised its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 84.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,659 shares of the industrial products company's stock after purchasing an additional 67,725 shares during the period. Canada Pension Plan Investment Board owned 0.13% of Rockwell Automation worth $38,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Citizens National Bank Trust Department purchased a new stake in Rockwell Automation during the first quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. purchased a new stake in Rockwell Automation during the first quarter valued at approximately $31,000. IMA Advisory Services Inc. bought a new position in shares of Rockwell Automation during the first quarter valued at approximately $32,000. Cooksen Wealth LLC bought a new position in shares of Rockwell Automation during the first quarter valued at approximately $34,000. Finally, Accredited Wealth Management LLC bought a new position in shares of Rockwell Automation during the fourth quarter valued at approximately $47,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Rockwell Automation news, SVP Matheus De A. G. Viera Bulho sold 526 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $325.35, for a total transaction of $171,134.10. Following the sale, the senior vice president owned 983 shares in the company, valued at approximately $319,819.05. The trade was a 34.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christopher Nardecchia sold 551 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $326.31, for a total transaction of $179,796.81. Following the completion of the transaction, the senior vice president owned 12,711 shares in the company, valued at approximately $4,147,726.41. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,445 shares of company stock worth $3,267,779 over the last quarter. Company insiders own 0.68% of the company's stock.

Rockwell Automation Stock Down 0.8%

Shares of ROK stock traded down $2.61 during mid-day trading on Friday, hitting $339.26. 539,352 shares of the stock traded hands, compared to its average volume of 934,661. The stock has a market cap of $38.14 billion, a P/E ratio of 39.82, a P/E/G ratio of 3.49 and a beta of 1.41. The stock's fifty day moving average is $345.20 and its two-hundred day moving average is $301.95. Rockwell Automation, Inc. has a 52-week low of $215.00 and a 52-week high of $360.92. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72.

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

Rockwell Automation Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ROK shares. Citigroup reaffirmed a "buy" rating and set a $392.00 target price (up previously from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. Loop Capital upped their price target on shares of Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Thursday, May 15th. CICC Research began coverage on shares of Rockwell Automation in a report on Monday, July 7th. They issued an "outperform" rating and a $381.00 price target on the stock. Stephens restated an "overweight" rating and issued a $375.00 price target (up from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. Finally, Barclays upped their price target on shares of Rockwell Automation from $357.00 to $370.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $340.16.

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.