Sumitomo Life Insurance Co. Reduces Stake in Rockwell Automation, Inc. (NYSE:ROK)

Sumitomo Life Insurance Co. cut its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 31.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,566 shares of the industrial products company's stock after selling 2,569 shares during the period. Sumitomo Life Insurance Co.'s holdings in Rockwell Automation were worth $1,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Citizens National Bank Trust Department acquired a new position in Rockwell Automation during the first quarter worth $26,000. Financial Gravity Asset Management Inc. acquired a new position in Rockwell Automation during the first quarter worth $31,000. Cooksen Wealth LLC acquired a new position in Rockwell Automation during the first quarter worth $34,000. Parvin Asset Management LLC acquired a new position in Rockwell Automation during the fourth quarter worth $36,000. Finally, Flagship Wealth Advisors LLC acquired a new position in Rockwell Automation during the fourth quarter worth $38,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, SVP Matthew W. Fordenwalt sold 289 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $326.33, for a total transaction of $94,309.37. Following the sale, the senior vice president owned 3,196 shares in the company, valued at $1,042,950.68. This represents a 8.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Tessa M. Myers sold 363 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $326.32, for a total value of $118,454.16. Following the sale, the senior vice president owned 4,063 shares in the company, valued at approximately $1,325,838.16. This trade represents a 8.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,757 shares of company stock worth $3,138,220 over the last quarter. 0.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ROK. Barclays boosted their price objective on Rockwell Automation from $350.00 to $370.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Loop Capital boosted their price objective on Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Thursday, May 15th. Bank of America raised Rockwell Automation from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $360.00 to $410.00 in a research note on Wednesday. Citigroup reaffirmed a "buy" rating and issued a $392.00 price target (up previously from $371.00) on shares of Rockwell Automation in a research note on Monday. Finally, Oppenheimer upped their price target on Rockwell Automation from $304.00 to $371.00 and gave the company an "outperform" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Rockwell Automation has a consensus rating of "Moderate Buy" and a consensus target price of $341.11.

Rockwell Automation Trading Down 0.5%

Shares of ROK stock traded down $1.68 on Friday, hitting $354.82. The stock had a trading volume of 390,908 shares, compared to its average volume of 864,271. 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 capitalization of $39.99 billion, a P/E ratio of 44.68, a P/E/G ratio of 3.95 and a beta of 1.38. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $360.00. The company's 50 day moving average price is $323.60 and its 200-day moving average price is $286.79.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share (EPS) 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 firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the business earned $2.50 EPS. The company's quarterly revenue was down 5.9% compared to the same quarter last year. Analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The business also recently declared 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 is Monday, August 18th. This represents a $5.24 annualized dividend and a yield of 1.48%. Rockwell Automation's dividend payout ratio (DPR) is 65.99%.

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.