Truist Financial Corp Boosts Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Truist Financial Corp boosted its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 67.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 171,532 shares of the industrial products company's stock after purchasing an additional 69,185 shares during the period. 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 bought and sold shares of ROK. Citizens National Bank Trust Department acquired a new stake in Rockwell Automation during the 1st quarter valued at approximately $26,000. SBI Securities Co. Ltd. acquired a new stake in shares of Rockwell Automation in the fourth quarter worth approximately $35,000. Parvin Asset Management LLC acquired a new stake in shares of Rockwell Automation in the fourth quarter worth approximately $36,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Rockwell Automation during the fourth quarter worth $38,000. Finally, Knuff & Co LLC grew its holdings in shares of Rockwell Automation by 41.0% during the fourth quarter. Knuff & Co LLC now owns 141 shares of the industrial products company's stock worth $40,000 after buying an additional 41 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ROK. KeyCorp reissued an "overweight" rating and issued a $360.00 price objective (up previously from $345.00) on shares of Rockwell Automation in a report on Friday, June 13th. TD Cowen raised shares of Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 target price on the stock in a research report on Friday, May 9th. BNP Paribas raised shares of Rockwell Automation from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 9th. Barclays raised shares of Rockwell Automation from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $283.00 to $350.00 in a report on Friday, May 30th. Finally, Oppenheimer raised their target price on shares of Rockwell Automation from $258.00 to $304.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $324.37.

Rockwell Automation Stock Performance

Shares of ROK opened at $346.93 on Monday. The company has a current ratio of 1.05, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The firm has a market cap of $39.11 billion, a PE ratio of 43.69, a price-to-earnings-growth ratio of 3.90 and a beta of 1.38. The company's 50 day simple moving average is $308.03 and its 200-day simple moving average is $283.31. Rockwell Automation, Inc. has a 12-month low of $215.00 and a 12-month high of $348.43.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates of $2.09 by $0.36. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the firm posted $2.50 EPS. Rockwell Automation's quarterly revenue was down 5.9% on a year-over-year basis. As a group, equities analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Announces Dividend

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

Insider Buying and Selling

In other news, SVP Matheus De A. G. Viera Bulho sold 526 shares of Rockwell Automation stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $325.35, for a total transaction of $171,134.10. Following the completion of the transaction, the senior vice president owned 983 shares of the company's stock, valued at $319,819.05. The trade was a 34.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Christopher Nardecchia sold 551 shares of Rockwell Automation stock in a transaction on Monday, June 9th. The stock was sold at an average price of $326.31, for a total value of $179,796.81. Following the transaction, the senior vice president directly owned 12,711 shares of the company's stock, valued at $4,147,726.41. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,388 shares of company stock valued at $2,307,487 in the last quarter. Corporate insiders own 0.68% of the company's stock.

Rockwell Automation 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.