Thematics Asset Management Sells 916 Shares of Rockwell Automation, Inc. $ROK

Key Points

• Thematics Asset Management reduced its stake in Rockwell Automation, Inc. by 1.9% during the first quarter, holding 47,335 shares valued at approximately $12.23 million after the sale.
• Several hedge funds have recently altered their positions in Rockwell Automation, with MML Investors Services LLC increasing its stake by 17.2% in the last quarter.
• Rockwell Automation's latest earnings report showed a profit of $2.82 per share, exceeding analysts' expectations, and a quarterly revenue of $2.14 billion, marking a 4.5% year-over-year increase.

Thematics Asset Management lessened its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,335 shares of the industrial products company's stock after selling 916 shares during the period. Thematics Asset Management's holdings in Rockwell Automation were worth $12,230,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ROK. Citizens National Bank Trust Department bought a new position in Rockwell Automation in the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Rockwell Automation in the first quarter worth about $31,000. IMA Advisory Services Inc. bought a new position in Rockwell Automation in the 1st quarter valued at about $32,000. Cooksen Wealth LLC acquired a new stake in shares of Rockwell Automation in the 1st quarter worth approximately $34,000. Finally, Parvin Asset Management LLC bought a new position in Rockwell Automation during the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 75.75% of the company's stock.

Insider Buying and Selling

In other Rockwell Automation news, Director James P. Keane sold 3,000 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $356.06, for a total transaction of $1,068,180.00. Following the completion of the transaction, the director owned 9,192 shares of the company's stock, valued at $3,272,903.52. The trade was a 24.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matheus De A. G. Viera Bulho sold 526 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $325.35, for a total value of $171,134.10. Following the completion of the sale, the senior vice president directly owned 983 shares in the company, valued at approximately $319,819.05. This represents a 34.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,368 shares of company stock valued at $2,871,129. 0.68% of the stock is owned by corporate insiders.

Rockwell Automation Stock Up 0.1%

Shares of Rockwell Automation stock traded up $0.24 on Thursday, hitting $349.44. 882,134 shares of the company traded hands, compared to its average volume of 944,865. Rockwell Automation, Inc. has a 12-month low of $215.00 and a 12-month high of $360.92. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.72. The company has a market cap of $39.29 billion, a PE ratio of 41.01, a PEG ratio of 3.65 and a beta of 1.39. The company has a 50-day moving average price of $342.93 and a 200 day moving average price of $300.16.

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

Rockwell Automation Announces Dividend

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. This represents a $5.24 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, August 18th. Rockwell Automation's dividend payout ratio (DPR) is 61.50%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ROK. Loop Capital increased their price objective on Rockwell Automation from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. boosted their target price on Rockwell Automation from $271.00 to $299.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. TD Cowen upgraded Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 price target for the company in a research report on Friday, May 9th. Wall Street Zen upgraded Rockwell Automation from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Bank of America upgraded shares of Rockwell Automation from a "neutral" rating to a "buy" rating and boosted their price target for the company from $360.00 to $410.00 in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $340.16.

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.