Sumitomo Life Insurance Co. bought a new stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,983 shares of the industrial products company's stock, valued at approximately $1,477,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Virtus Advisers LLC bought a new stake in shares of Rockwell Automation in the 2nd quarter worth approximately $25,000. MV Capital Management Inc. acquired a new stake in shares of Rockwell Automation during the 4th quarter worth approximately $28,000. Manchester Capital Management LLC increased its position in shares of Rockwell Automation by 97.5% during the fourth quarter. Manchester Capital Management LLC now owns 79 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 39 shares during the period. Cassaday & Co Wealth Management LLC bought a new stake in shares of Rockwell Automation during the first quarter valued at approximately $31,000. Finally, First Horizon Corp acquired a new position in shares of Rockwell Automation in the fourth quarter valued at $32,000. 75.75% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently commented on ROK. JPMorgan Chase & Co. raised their target price on Rockwell Automation from $404.00 to $417.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Rothschild & Co Redburn boosted their price target on shares of Rockwell Automation from $365.00 to $378.00 in a report on Wednesday, May 6th. Robert W. Baird set a $514.00 price objective on shares of Rockwell Automation in a research note on Wednesday, August 5th. Barclays raised their price objective on shares of Rockwell Automation from $400.00 to $480.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company lifted their target price on shares of Rockwell Automation from $360.00 to $440.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $468.19.
Check Out Our Latest Research Report on ROK
Rockwell Automation Price Performance
Rockwell Automation stock opened at $437.50 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.08 and a quick ratio of 0.74. The company has a market capitalization of $48.58 billion, a PE ratio of 41.00, a price-to-earnings-growth ratio of 2.52 and a beta of 1.54. Rockwell Automation, Inc. has a one year low of $332.71 and a one year high of $497.36. The business has a 50 day simple moving average of $461.98 and a 200 day simple moving average of $427.00.
Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.38 by $0.11. Rockwell Automation had a return on equity of 39.83% and a net margin of 13.39%.The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the firm earned $2.82 EPS. Rockwell Automation's quarterly revenue was up 7.9% on a year-over-year basis. Rockwell Automation has set its FY 2026 guidance at 13.000-13.300 EPS. On average, sell-side analysts forecast that Rockwell Automation, Inc. will post 13.22 EPS for the current fiscal year.
Rockwell Automation Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 17th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, August 17th. Rockwell Automation's payout ratio is currently 51.73%.
Rockwell Automation declared that its board has initiated a share repurchase plan on Tuesday, June 9th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.
Insider Activity
In related news, CFO Christian E. Rothe sold 590 shares of Rockwell Automation stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $434.30, for a total transaction of $256,237.00. Following the completion of the transaction, the chief financial officer directly owned 10,429 shares of the company's stock, valued at $4,529,314.70. This trade represents a 5.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Matthew W. Fordenwalt sold 377 shares of the business's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $460.51, for a total transaction of $173,612.27. Following the completion of the transaction, the senior vice president owned 4,437 shares in the company, valued at approximately $2,043,282.87. This trade represents a 7.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,185 shares of company stock worth $529,331. 0.76% of the stock is owned by insiders.
About Rockwell Automation
(
Free Report)
Rockwell Automation is a global industrial automation and digital transformation company headquartered in Milwaukee, Wisconsin. The firm designs, manufactures and supports control systems, industrial control hardware and software, and related services that help manufacturers and industrial operators automate processes, improve productivity and enable data-driven decision making. Rockwell traces its heritage to the Allen-Bradley and Rockwell automation businesses and positions itself as a provider of integrated automation solutions across discrete and process industries.
The company's product portfolio includes programmable logic controllers (PLCs), human-machine interfaces (HMIs), variable frequency drives, sensors, safety components and other industrial control hardware, often marketed under the Allen-Bradley brand.
Further Reading
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