Tema Etfs LLC Boosts Stake in Rockwell Automation, Inc. $ROK

Key Points

• Tema Etfs LLC increased its stake in Rockwell Automation by 32%, owning 42,127 shares worth approximately $10.88 million, making it the second largest position in their portfolio.
• Rockwell Automation reported $2.82 earnings per share for the last quarter, surpassing expectations by $0.15, with a revenue of $2.14 billion, reflecting a 4.5% year-over-year growth.
• The company will pay a quarterly dividend of $1.31 on September 10th, representing a 1.5% yield, with a payout ratio of 61.5%.

Tema Etfs LLC raised its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 32.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,127 shares of the industrial products company's stock after purchasing an additional 10,215 shares during the period. Rockwell Automation accounts for 3.3% of Tema Etfs LLC's investment portfolio, making the stock its 2nd biggest position. Tema Etfs LLC's holdings in Rockwell Automation were worth $10,885,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ROK. Bank Pictet & Cie Europe AG raised its position in shares of 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 valued at $1,199,000 after buying an additional 38 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 valued at $1,462,000 after purchasing an additional 43 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in shares of Rockwell Automation by 0.6% during the 1st quarter. Wealthfront Advisers LLC now owns 7,708 shares of the industrial products company's stock valued at $1,992,000 after purchasing an additional 43 shares in the last quarter. Kelly Financial Services LLC increased its position in shares of Rockwell Automation by 4.4% during the first quarter. Kelly Financial Services LLC now owns 1,096 shares of the industrial products company's stock valued at $283,000 after buying an additional 46 shares during the period. Finally, Koshinski Asset Management Inc. raised its stake in Rockwell Automation by 1.1% in the first 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 in the last quarter. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Price Performance

ROK opened at $349.20 on Thursday. The firm has a market cap of $39.26 billion, a PE ratio of 40.99, a P/E/G ratio of 3.65 and a beta of 1.39. The stock has a 50-day moving average price of $342.93 and a 200-day moving average price of $300.16. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $360.92. 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 issued its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.15. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.07 billion. During the same period in the previous year, the company earned $2.71 earnings per share. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. Sell-side analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, August 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.5%. Rockwell Automation's payout ratio is currently 61.50%.

Insider Activity

In other news, SVP Matthew W. Fordenwalt sold 500 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $320.02, for a total transaction of $160,010.00. Following the completion of the transaction, the senior vice president directly owned 2,709 shares of the company's stock, valued at $866,934.18. The trade was a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Terry L. Riesterer sold 2,100 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $350.08, for a total transaction of $735,168.00. Following the transaction, the vice president owned 1,033 shares in the company, valued at approximately $361,632.64. This trade represents a 67.03% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,368 shares of company stock valued at $2,871,129. Corporate insiders own 0.68% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on ROK shares. JPMorgan Chase & Co. lifted their price objective on Rockwell Automation from $271.00 to $299.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. KeyCorp lifted their price target on Rockwell Automation from $370.00 to $380.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Stephens reiterated an "overweight" rating and issued a $375.00 price objective (up previously from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. CICC Research initiated coverage on Rockwell Automation in a research report on Monday, July 7th. They set an "outperform" rating and a $381.00 price objective for the company. Finally, 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 report on Friday, May 9th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $340.16.

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.

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