Cresset Asset Management LLC Sells 2,135 Shares of Rockwell Automation, Inc. $ROK

Key Points

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Cresset Asset Management LLC lowered its stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 15.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,325 shares of the industrial products company's stock after selling 2,135 shares during the quarter. Cresset Asset Management LLC's holdings in Rockwell Automation were worth $2,926,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in shares of Rockwell Automation by 29,844.4% during the 1st quarter. GAMMA Investing LLC now owns 702,794 shares of the industrial products company's stock worth $181,588,000 after purchasing an additional 700,447 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Rockwell Automation by 6.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,115,280 shares of the industrial products company's stock worth $2,033,476,000 after purchasing an additional 432,934 shares during the period. Voya Investment Management LLC lifted its stake in shares of Rockwell Automation by 56.9% during the 4th quarter. Voya Investment Management LLC now owns 935,726 shares of the industrial products company's stock worth $267,421,000 after purchasing an additional 339,480 shares during the period. Adage Capital Partners GP L.L.C. lifted its stake in shares of Rockwell Automation by 289.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 416,893 shares of the industrial products company's stock worth $119,144,000 after purchasing an additional 309,893 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Rockwell Automation during the 1st quarter worth $63,632,000. Hedge funds and other institutional investors own 75.75% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ROK. Bank of America raised Rockwell Automation from a "neutral" rating to a "buy" rating and increased their price target for the stock from $360.00 to $410.00 in a research note on Wednesday, July 16th. TD Cowen upgraded 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. Loop Capital raised their target price on Rockwell Automation from $280.00 to $290.00 and gave the company a "hold" rating in a research note on Thursday, May 15th. Barclays lifted their price target on Rockwell Automation from $357.00 to $370.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Finally, Citigroup restated a "buy" rating and issued a $392.00 target price (up from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $340.16.

Rockwell Automation Stock Performance

ROK stock traded down $0.3610 during mid-day trading on Thursday, reaching $339.2590. 531,289 shares of the stock traded hands, compared to its average volume of 1,085,528. The firm has a market capitalization of $38.14 billion, a PE ratio of 39.82, a P/E/G ratio of 3.49 and a beta of 1.39. The business has a 50-day moving average of $340.45 and a two-hundred day moving average of $297.89. The company has a quick ratio of 0.72, a current ratio of 1.06 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.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The company's revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $2.71 earnings per share. As a group, equities analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Dividend Announcement

The business 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 $1.31 dividend. 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 is presently 61.50%.

Insider Activity

In other Rockwell Automation news, SVP Matthew W. Fordenwalt sold 289 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $326.33, for a total transaction of $94,309.37. Following the sale, the senior vice president directly owned 3,196 shares of the company's stock, valued at $1,042,950.68. The trade was a 8.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Matheus De A. G. Viera Bulho sold 526 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $325.35, for a total transaction of $171,134.10. Following the completion of the transaction, the senior vice president owned 983 shares in the company, valued at approximately $319,819.05. This trade represents a 34.86% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,818 shares of company stock worth $1,944,708. 0.68% of the stock is currently owned by company insiders.

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.