Rockwell Automation, Inc. $ROK Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its holdings in Rockwell Automation by 17.6%, selling 1,979 shares and now owning a total of 9,289 shares valued at approximately $2.4 million.
• Rockwell Automation recently announced a quarterly dividend of $1.31 per share, which will be paid on September 10th, representing an annualized yield of 1.5%.
• Analysts have mixed ratings for Rockwell Automation stock, with one Strong Buy, eleven Buy, six Hold, and one Sell, setting an average price target of $340.16.

Rafferty Asset Management LLC trimmed its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 17.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,289 shares of the industrial products company's stock after selling 1,979 shares during the quarter. Rafferty Asset Management LLC's holdings in Rockwell Automation were worth $2,400,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ROK. Citizens National Bank Trust Department acquired a new stake in shares of Rockwell Automation during the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. acquired a new position in Rockwell Automation in the 1st quarter valued at about $31,000. IMA Advisory Services Inc. acquired a new position in Rockwell Automation in the 1st quarter valued at about $32,000. Cooksen Wealth LLC acquired a new position in Rockwell Automation in the 1st quarter valued at about $34,000. Finally, Cary Street Partners Investment Advisory LLC grew its position in Rockwell Automation by 59.6% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 166 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 62 shares in the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ROK has been the subject of several research reports. Loop Capital lifted their target price on Rockwell Automation from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Thursday, May 15th. 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 report on Friday, May 9th. Oppenheimer dropped their target price on Rockwell Automation from $371.00 to $363.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Citigroup reiterated a "buy" rating and issued a $392.00 price objective (up previously from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. Finally, CICC Research began coverage on Rockwell Automation in a research note on Monday, July 7th. They issued an "outperform" rating and a $381.00 price objective for the company. One 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $340.16.

Insider Activity

In related news, SVP Tessa M. Myers sold 363 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $326.32, for a total transaction of $118,454.16. Following the completion of the sale, the senior vice president owned 4,063 shares in the company, valued at $1,325,838.16. The trade was a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Matheus De A. G. Viera Bulho sold 526 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $325.35, for a total value of $171,134.10. Following the sale, the senior vice president owned 983 shares of the company's stock, valued at approximately $319,819.05. The trade was a 34.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,368 shares of company stock valued at $2,871,129 over the last 90 days. Insiders own 0.68% of the company's stock.

Rockwell Automation Stock Performance

Shares of ROK opened at $343.80 on Friday. The stock has a 50-day simple moving average of $343.94 and a 200-day simple moving average of $300.75. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.06. The stock has a market capitalization of $38.65 billion, a PE ratio of 40.35, a PEG ratio of 3.53 and a beta of 1.39. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $360.92.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its earnings results 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 firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.07 billion. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The firm's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.71 earnings per share. On average, analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal 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. The ex-dividend date is Monday, August 18th. This represents a $5.24 annualized dividend and a yield of 1.5%. Rockwell Automation's payout ratio is presently 61.50%.

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.

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