Mirova Sells 1,200 Shares of Rockwell Automation, Inc. $ROK

Key Points

• Mirova reduced its stake in Rockwell Automation by 23.8%, holding 3,840 shares worth approximately $992,000 after selling 1,200 shares in the first quarter.
• Rockwell Automation's recent earnings report indicated an earnings per share of $2.82, exceeding estimates, and revenue of $2.14 billion, showing a 4.5% year-over-year increase.
• The company announced a quarterly dividend of $1.31 per share, with a dividend yield of 1.5% and a payout ratio of 61.50%.

Mirova lessened its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 23.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,840 shares of the industrial products company's stock after selling 1,200 shares during the quarter. Mirova's holdings in Rockwell Automation were worth $992,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ROK. Comerica Bank lifted its stake in Rockwell Automation by 16.3% in the 1st quarter. Comerica Bank now owns 53,191 shares of the industrial products company's stock valued at $13,744,000 after buying an additional 7,464 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Rockwell Automation by 9.6% during the first quarter. Smartleaf Asset Management LLC now owns 1,608 shares of the industrial products company's stock valued at $416,000 after purchasing an additional 141 shares during the period. Strategies Wealth Advisors LLC purchased a new position in shares of Rockwell Automation during the 1st quarter valued at approximately $441,000. Allstate Corp boosted its stake in shares of Rockwell Automation by 28.4% during the 1st quarter. Allstate Corp now owns 4,394 shares of the industrial products company's stock valued at $1,135,000 after buying an additional 973 shares during the last quarter. Finally, Kestra Advisory Services LLC increased its holdings in shares of Rockwell Automation by 13.3% in the 1st quarter. Kestra Advisory Services LLC now owns 19,802 shares of the industrial products company's stock valued at $5,116,000 after acquiring an additional 2,331 shares during the last quarter. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Rockwell Automation Stock Down 1.4%

ROK stock traded down $5.05 during trading hours on Friday, hitting $344.08. The company's stock had a trading volume of 290,481 shares, compared to its average volume of 941,003. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $38.69 billion, a PE ratio of 40.39, a price-to-earnings-growth ratio of 3.59 and a beta of 1.39. Rockwell Automation, Inc. has a 12 month low of $215.00 and a 12 month high of $360.92. The stock has a 50 day moving average price of $343.49 and a two-hundred day moving average price of $300.49.

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 analysts' consensus estimates of $2.67 by $0.15. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the firm posted $2.71 earnings per share. The company's quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Announces Dividend

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 given a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, August 18th. Rockwell Automation's dividend payout ratio (DPR) is 61.50%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ROK. Wells Fargo & Company set a $345.00 price target on Rockwell Automation and gave the company an "equal weight" rating in a report on Friday, August 8th. Bank of America raised Rockwell Automation from a "neutral" rating to a "buy" rating and raised their price target for the stock from $360.00 to $410.00 in a report on Wednesday, July 16th. Loop Capital raised their price target on Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Thursday, May 15th. Oppenheimer decreased their price objective on Rockwell Automation from $371.00 to $363.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Finally, TD Cowen raised Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 price objective for the company in a report on Friday, May 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Rockwell Automation currently has an average rating of "Moderate Buy" and an average price target of $340.16.

Insider Buying and Selling at Rockwell Automation

In related news, VP Terry L. Riesterer sold 2,100 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $350.08, for a total value of $735,168.00. Following the completion of the transaction, the vice president owned 1,033 shares in the company, valued at $361,632.64. The trade was a 67.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Matheus De A. G. Viera Bulho sold 526 shares of the firm's stock in a transaction that occurred on 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 directly owned 983 shares in the company, valued at approximately $319,819.05. The trade was a 34.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,368 shares of company stock worth $2,871,129 over the last three months. 0.68% of the stock is currently owned by insiders.

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.