Scotia Capital Inc. Cuts Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Key Points

• Scotia Capital Inc. reduced its stake in Rockwell Automation by 15.4%, selling 3,553 shares to own a total of 19,553 shares valued at approximately $5.05 million.
• Rockwell Automation reported quarterly earnings of $2.45 per share, exceeding estimates of $2.09, although its revenue declined 5.9% year-over-year to $2 billion.
• The company declared a quarterly dividend of $1.31 per share, which represents an annualized yield of 1.5% with a dividend payout ratio of 65.99%.

Scotia Capital Inc. lessened its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 15.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,553 shares of the industrial products company's stock after selling 3,553 shares during the quarter. Scotia Capital Inc.'s holdings in Rockwell Automation were worth $5,052,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC purchased a new stake in shares of Rockwell Automation in the fourth quarter valued at approximately $281,000. Bank Pictet & Cie Europe AG lifted its holdings in Rockwell Automation by 0.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company's stock valued at $1,199,000 after acquiring an additional 38 shares during the period. World Investment Advisors purchased a new stake in shares of Rockwell Automation during the 4th quarter worth $670,000. Prudential PLC grew its stake in shares of Rockwell Automation by 38.0% during the 4th quarter. Prudential PLC now owns 9,269 shares of the industrial products company's stock worth $2,649,000 after purchasing an additional 2,553 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Rockwell Automation by 4.6% in the 4th quarter. Wells Fargo & Company MN now owns 249,119 shares of the industrial products company's stock valued at $71,196,000 after purchasing an additional 11,066 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company's stock.

Rockwell Automation Stock Performance

NYSE:ROK 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 firm has a market cap of $39.47 billion, a PE ratio of 44.10, a P/E/G ratio of 3.52 and a beta of 1.39. The firm has a 50 day simple moving average of $335.21 and a 200-day simple moving average of $293.01. 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 issued its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.36. Rockwell Automation had a return on equity of 30.16% and a net margin of 11.38%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the firm posted $2.50 EPS. Rockwell Automation's revenue was down 5.9% on a year-over-year basis. On average, equities analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ROK. Stephens reissued an "overweight" rating and set a $375.00 price objective (up previously from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. Citigroup reissued a "buy" rating and set a $392.00 price target (up previously from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. 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. Oppenheimer lifted their price objective on Rockwell Automation from $304.00 to $371.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Finally, Bank of America raised Rockwell Automation from a "neutral" rating to a "buy" rating and upped their target price for the company from $360.00 to $410.00 in a report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $341.11.

Insider Transactions at Rockwell Automation

In other news, VP Isaac Woods sold 297 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $326.31, for a total transaction of $96,914.07. Following the completion of the transaction, the vice president owned 1,691 shares of the company's stock, valued at $551,790.21. This represents a 14.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Tessa M. Myers sold 363 shares of the firm'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 directly owned 4,063 shares in the company, valued at $1,325,838.16. This represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,757 shares of company stock worth $3,138,220 in the last quarter. 0.68% of the stock is currently owned by corporate 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.

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