Rockwell Automation, Inc. (NYSE:ROK) Shares Bought by Truist Financial Corp

Truist Financial Corp lifted its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 67.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 171,532 shares of the industrial products company's stock after buying an additional 69,185 shares during the quarter. Truist Financial Corp owned approximately 0.15% of Rockwell Automation worth $44,321,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Eukles Asset Management raised its holdings in shares of Rockwell Automation by 2.7% in the 1st quarter. Eukles Asset Management now owns 9,590 shares of the industrial products company's stock valued at $2,478,000 after buying an additional 248 shares during the period. Impax Asset Management Group plc grew its stake in Rockwell Automation by 36.8% during the 1st quarter. Impax Asset Management Group plc now owns 4,941 shares of the industrial products company's stock worth $1,277,000 after purchasing an additional 1,328 shares in the last quarter. IFM Investors Pty Ltd grew its stake in Rockwell Automation by 10.7% during the 1st quarter. IFM Investors Pty Ltd now owns 22,646 shares of the industrial products company's stock worth $6,080,000 after purchasing an additional 2,186 shares in the last quarter. OneDigital Investment Advisors LLC grew its stake in Rockwell Automation by 8.2% during the 1st quarter. OneDigital Investment Advisors LLC now owns 4,176 shares of the industrial products company's stock worth $1,079,000 after purchasing an additional 318 shares in the last quarter. Finally, D.A. Davidson & CO. grew its stake in Rockwell Automation by 8.9% during the 1st quarter. D.A. Davidson & CO. now owns 24,641 shares of the industrial products company's stock worth $6,367,000 after purchasing an additional 2,016 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. KeyCorp reissued an "overweight" rating and set a $360.00 target price (up from $345.00) on shares of Rockwell Automation in a research note on Friday, June 13th. CICC Research initiated coverage on Rockwell Automation in a research report on Monday. They set an "outperform" rating and a $381.00 price objective for the company. Barclays raised Rockwell Automation from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $283.00 to $350.00 in a research report on Friday, May 30th. TD Cowen raised Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 target price for the company in a report on Friday, May 9th. Finally, Citigroup boosted their target price on Rockwell Automation from $327.00 to $371.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $327.20.

Insider Buying and Selling

In related news, SVP Christopher Nardecchia sold 551 shares of Rockwell Automation stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $326.31, for a total value of $179,796.81. Following the completion of the transaction, the senior vice president directly owned 12,711 shares in the company, valued at approximately $4,147,726.41. This trade represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Matheus De A. G. Viera Bulho sold 939 shares of Rockwell Automation stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $304.24, for a total value of $285,681.36. Following the completion of the transaction, the senior vice president owned 983 shares of the company's stock, valued at $299,067.92. This trade represents a 48.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,388 shares of company stock valued at $2,307,487 over the last ninety days. Insiders own 0.68% of the company's stock.

Rockwell Automation Price Performance

NYSE:ROK traded up $0.85 during trading hours on Tuesday, reaching $339.78. 115,669 shares of the company traded hands, compared to its average volume of 934,028. The firm's 50-day moving average is $309.88 and its 200-day moving average is $283.65. The stock has a market cap of $38.30 billion, a P/E ratio of 42.79, a P/E/G ratio of 3.90 and a beta of 1.38. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.05 and a quick ratio of 0.72. Rockwell Automation, Inc. has a 1-year low of $215.00 and a 1-year high of $348.43.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $2.45 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $1.97 billion. During the same quarter in the prior year, the firm earned $2.50 EPS. Rockwell Automation's quarterly revenue was down 5.9% on a year-over-year basis. Equities research analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The business also recently disclosed 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. This represents a $5.24 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation's dividend payout ratio (DPR) is presently 65.99%.

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.