Silvant Capital Management LLC Sells 2,903 Shares of Rockwell Automation, Inc. $ROK

Key Points

• Silvant Capital Management LLC reduced its holdings in Rockwell Automation by 17.6%, selling 2,903 shares and retaining 13,560 shares valued at approximately $3.5 million.
• Rockwell Automation reported a quarterly earnings per share (EPS) of $2.82, exceeding analysts' expectations of $2.67, with revenue reaching $2.14 billion.
• The company announced a quarterly dividend of $1.31 per share with an annualized yield of 1.5%, payable on September 10th to shareholders as of August 18th.

Silvant Capital Management LLC trimmed its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 17.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,560 shares of the industrial products company's stock after selling 2,903 shares during the quarter. Silvant Capital Management LLC's holdings in Rockwell Automation were worth $3,504,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Citizens National Bank Trust Department bought a new stake in shares of Rockwell Automation in the first quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Rockwell Automation in the first quarter valued at approximately $31,000. IMA Advisory Services Inc. bought a new stake in shares of Rockwell Automation in the first quarter valued at approximately $32,000. Cooksen Wealth LLC bought a new stake in shares of Rockwell Automation in the first quarter valued at approximately $34,000. Finally, Parvin Asset Management LLC bought a new position in Rockwell Automation in the fourth quarter worth $36,000. 75.75% of the stock is owned by institutional investors.

Rockwell Automation Stock Up 1.9%

Shares of NYSE ROK opened at $356.60 on Wednesday. The stock has a market cap of $40.09 billion, a PE ratio of 41.85, a PEG ratio of 3.60 and a beta of 1.39. The business has a fifty day moving average of $342.37 and a two-hundred day moving average of $299.82. 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 quick ratio of 0.72 and a current ratio of 1.06.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.67 by $0.15. The company 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 business's revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $2.71 earnings per share. As a group, equities research analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be issued a dividend of $1.31 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.5%. Rockwell Automation's dividend payout ratio (DPR) is presently 61.50%.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, SVP Matthew W. Fordenwalt sold 500 shares of Rockwell Automation stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $320.02, for a total transaction of $160,010.00. Following the completion of the transaction, the senior vice president directly owned 2,709 shares of the company's stock, valued at approximately $866,934.18. This trade represents a 15.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Christopher Nardecchia sold 551 shares of Rockwell Automation stock in a transaction on Monday, June 9th. The shares were sold at an average price of $326.31, for a total value of $179,796.81. Following the transaction, the senior vice president directly owned 12,711 shares of the company's stock, valued at approximately $4,147,726.41. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,818 shares of company stock valued at $3,012,888. Insiders own 0.68% of the company's stock.

Wall Street Analyst Weigh In

ROK has been the subject of several research reports. Oppenheimer reduced 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. 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. Stephens reaffirmed an "overweight" rating and issued a $375.00 target price (up from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. Wall Street Zen raised Rockwell Automation from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Loop Capital raised their target price on Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently 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.

Want to see what other hedge funds are holding ROK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rockwell Automation, Inc. (NYSE:ROK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.