Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd cut its stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 36.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,226 shares of the industrial products company's stock after selling 10,394 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Rockwell Automation were worth $4,709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ROK. Citizens National Bank Trust Department purchased a new stake in shares of Rockwell Automation during the first quarter worth $26,000. SBI Securities Co. Ltd. acquired a new position in Rockwell Automation during the fourth quarter worth about $35,000. Parvin Asset Management LLC acquired a new position in Rockwell Automation during the fourth quarter worth about $36,000. Flagship Wealth Advisors LLC purchased a new stake in Rockwell Automation during the 4th quarter valued at about $38,000. Finally, Knuff & Co LLC raised its holdings in Rockwell Automation by 41.0% in the 4th quarter. Knuff & Co LLC now owns 141 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 41 shares during the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ROK. TD Cowen upgraded Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 target price on the stock in a report on Friday, May 9th. Bank of America lifted their price objective on Rockwell Automation from $330.00 to $360.00 and gave the stock a "neutral" rating in a research report on Wednesday. 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. Barclays raised Rockwell Automation from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $283.00 to $350.00 in a research note on Friday, May 30th. Finally, Citigroup lifted their price target on Rockwell Automation from $327.00 to $371.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $324.37.

Rockwell Automation Trading Up 1.2%

Shares of NYSE:ROK traded up $4.19 during mid-day trading on Thursday, reaching $346.93. 626,807 shares of the company were exchanged, compared to its average volume of 857,512. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $350.67. 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's 50-day simple moving average is $304.09 and its 200 day simple moving average is $282.64. The firm has a market cap of $39.10 billion, a price-to-earnings ratio of 43.69, a P/E/G ratio of 3.81 and a beta of 1.38.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $2.45 EPS for the quarter, topping 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 business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the business posted $2.50 earnings per share. The company's quarterly revenue was down 5.9% on a year-over-year basis. Equities research analysts forecast that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be given a $1.31 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $5.24 annualized dividend and a yield of 1.51%. Rockwell Automation's dividend payout ratio is presently 65.99%.

Insiders Place Their Bets

In other news, 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 transaction of $179,796.81. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tessa M. Myers sold 363 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $326.32, for a total transaction of $118,454.16. Following the transaction, the senior vice president owned 4,063 shares of the company's stock, valued at approximately $1,325,838.16. The trade was a 8.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,388 shares of company stock valued at $2,307,487. Corporate insiders own 0.68% of the company's stock.

About Rockwell Automation

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.