State of New Jersey Common Pension Fund D Reduces Stock Holdings in Rockwell Automation, Inc. $ROK

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Rockwell Automation, Inc. by 8.3%, now holding 37,897 shares valued at approximately $9.79 million.
• Multiple hedge funds are entering the market, with several acquiring new stakes in Rockwell Automation during the first quarter, indicating strong institutional interest.
• Rockwell Automation recently announced a quarterly dividend of $1.31 per share, with a projected annual dividend yield of 1.5%.

State of New Jersey Common Pension Fund D lessened its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 8.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,897 shares of the industrial products company's stock after selling 3,445 shares during the period. State of New Jersey Common Pension Fund D's holdings in Rockwell Automation were worth $9,792,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bank Pictet & Cie Europe AG lifted its holdings in Rockwell Automation by 0.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company's stock worth $1,199,000 after buying an additional 38 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Rockwell Automation by 0.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company's stock worth $1,462,000 after buying an additional 43 shares during the period. Wealthfront Advisers LLC lifted its holdings in Rockwell Automation by 0.6% during the 1st quarter. Wealthfront Advisers LLC now owns 7,708 shares of the industrial products company's stock worth $1,992,000 after buying an additional 43 shares during the period. Kelly Financial Services LLC lifted its holdings in Rockwell Automation by 4.4% during the 1st quarter. Kelly Financial Services LLC now owns 1,096 shares of the industrial products company's stock worth $283,000 after buying an additional 46 shares during the period. Finally, Koshinski Asset Management Inc. lifted its holdings in Rockwell Automation by 1.1% during the 1st quarter. Koshinski Asset Management Inc. now owns 4,097 shares of the industrial products company's stock worth $1,059,000 after buying an additional 46 shares during the period. Institutional investors own 75.75% of the company's stock.

Insider Transactions at Rockwell Automation

In other news, 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 transaction, the senior vice president owned 983 shares in the company, valued at $319,819.05. The trade was a 34.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Terry L. Riesterer sold 2,100 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 5,818 shares of company stock worth $1,944,708. 0.68% of the stock is owned by insiders.

Rockwell Automation Stock Performance

Shares of NYSE ROK traded down $0.3610 during midday trading on Thursday, reaching $339.2590. The company's stock had a trading volume of 531,289 shares, compared to its average volume of 944,565. Rockwell Automation, Inc. has a 12-month low of $215.00 and a 12-month high of $360.92. The firm has a 50 day moving average price of $340.16 and a 200-day moving average price of $297.42. The stock has a market capitalization of $38.14 billion, a P/E ratio of 39.82, a PEG ratio of 3.53 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, topping analysts' consensus estimates of $2.67 by $0.15. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the business earned $2.71 EPS. The company's revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 dividend yield of 1.5%. The ex-dividend date is Monday, August 18th. Rockwell Automation's payout ratio is presently 61.50%.

Analyst Ratings Changes

Several research analysts have commented on the company. KeyCorp lifted their target price on Rockwell Automation from $370.00 to $380.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Citigroup reaffirmed a "buy" rating and set a $392.00 target price (up from $371.00) on shares of Rockwell Automation in a report on Monday, July 14th. Loop Capital lifted their target price on Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Thursday, May 15th. Wall Street Zen raised Rockwell Automation from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, CICC Research initiated coverage on Rockwell Automation in a research report 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 assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average 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.