Smithbridge Asset Management Inc. DE acquired a new stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 11,809 shares of the industrial products company's stock, valued at approximately $3,051,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Rockwell Automation in the 4th quarter worth about $284,177,000. GAMMA Investing LLC increased its stake in 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 valued at $181,588,000 after purchasing an additional 700,447 shares in the last quarter. Wellington Management Group LLP raised its holdings in Rockwell Automation by 85,513.1% in the fourth quarter. Wellington Management Group LLP now owns 675,487 shares of the industrial products company's stock worth $193,047,000 after buying an additional 674,698 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Rockwell Automation by 102.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,287,731 shares of the industrial products company's stock worth $368,021,000 after buying an additional 651,116 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Rockwell Automation by 6.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,115,280 shares of the industrial products company's stock valued at $2,033,476,000 after buying an additional 432,934 shares during the last quarter. Institutional investors own 75.75% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on ROK shares. Loop Capital upped their price objective on Rockwell Automation from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Thursday, May 15th. Wells Fargo & Company increased their price objective on Rockwell Automation from $265.00 to $315.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Citigroup lifted their price objective on Rockwell Automation from $327.00 to $371.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. TD Cowen upgraded shares of Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 target price on the stock in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of Rockwell Automation from $271.00 to $299.00 and gave the company a "neutral" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $317.79.
Get Our Latest Analysis on Rockwell Automation
Rockwell Automation Price Performance
NYSE ROK traded up $5.98 during trading hours on Monday, reaching $323.83. The company's stock had a trading volume of 668,922 shares, compared to its average volume of 883,779. The company has a market capitalization of $36.50 billion, a price-to-earnings ratio of 40.33, a PEG ratio of 3.53 and a beta of 1.38. The firm's 50-day moving average price is $279.47 and its 200-day moving average price is $279.67. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $328.90. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.72.
Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates of $2.09 by $0.36. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. The business's quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.50 earnings per share. On average, equities research analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.
Rockwell Automation Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be given 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 1.62%. Rockwell Automation's dividend payout ratio (DPR) is currently 65.99%.
Insiders Place Their Bets
In related news, SVP Matthew W. Fordenwalt sold 500 shares of Rockwell Automation stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $295.01, for a total value of $147,505.00. Following the completion of the transaction, the senior vice president now owns 2,838 shares in the company, valued at approximately $837,238.38. This trade represents a 14.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 shares were sold at an average price of $325.35, for a total value of $171,134.10. Following the transaction, the senior vice president now directly owns 983 shares in the company, valued at approximately $319,819.05. This represents a 34.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,681 shares of company stock valued at $2,382,987 in the last three months. Corporate insiders own 0.68% of the company's stock.
Rockwell Automation Company Profile
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Free Report)
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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