WASHINGTON TRUST Co lowered its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 87.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 300 shares of the industrial products company's stock after selling 2,176 shares during the period. WASHINGTON TRUST Co's holdings in Rockwell Automation were worth $78,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in ROK. Amalgamated Bank boosted its holdings in shares of Rockwell Automation by 1.5% in the 1st quarter. Amalgamated Bank now owns 22,161 shares of the industrial products company's stock valued at $5,726,000 after buying an additional 321 shares during the last quarter. Citizens National Bank Trust Department bought a new position in Rockwell Automation during the first quarter worth about $26,000. Essex Financial Services Inc. increased its position in Rockwell Automation by 14.2% during the first quarter. Essex Financial Services Inc. now owns 868 shares of the industrial products company's stock worth $224,000 after buying an additional 108 shares during the last quarter. Sovran Advisors LLC increased its position in Rockwell Automation by 77.7% during the first quarter. Sovran Advisors LLC now owns 3,072 shares of the industrial products company's stock worth $794,000 after buying an additional 1,343 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its stake in Rockwell Automation by 3.8% in the first quarter. Golden State Wealth Management LLC now owns 2,596 shares of the industrial products company's stock valued at $671,000 after buying an additional 96 shares during the period. Institutional investors own 75.75% of the company's stock.
Rockwell Automation Price Performance
Shares of ROK stock traded up $3.48 on Thursday, hitting $346.22. 318,563 shares of the company's stock were exchanged, compared to its average volume of 856,366. The company has a 50 day moving average of $304.09 and a 200 day moving average of $282.64. The stock has a market cap of $39.02 billion, a P/E ratio of 43.60, a price-to-earnings-growth ratio of 3.81 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 12 month low of $215.00 and a 12 month high of $347.45.
Rockwell Automation (NYSE:ROK - Get Free Report) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $2.45 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the prior year, the business earned $2.50 earnings per share. The business's revenue for the quarter was down 5.9% compared to the same quarter last year. On average, equities research analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current year.
Rockwell Automation Dividend Announcement
The business also recently announced 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 is Monday, August 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.51%. Rockwell Automation's dividend payout ratio is currently 65.99%.
Insider Activity
In other news, SVP Christopher Nardecchia sold 551 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 12,711 shares of the company's stock, valued at $4,147,726.41. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Tessa M. Myers sold 363 shares of Rockwell Automation stock in a transaction that occurred 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 sale, the senior vice president owned 4,063 shares in the company, valued at approximately $1,325,838.16. This represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,388 shares of company stock valued at $2,307,487. 0.68% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on ROK shares. Wells Fargo & Company increased their price target on Rockwell Automation from $315.00 to $365.00 and gave the company an "overweight" rating in a research note on Tuesday. Bank of America increased their price objective on shares of Rockwell Automation from $330.00 to $360.00 and gave the company a "neutral" rating in a research report on Wednesday. Barclays raised shares of Rockwell Automation from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $283.00 to $350.00 in a report on Friday, May 30th. Citigroup raised their price objective on shares of Rockwell Automation from $327.00 to $371.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, KeyCorp reissued an "overweight" rating and set a $360.00 price target (up from $345.00) on shares of Rockwell Automation in a report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Rockwell Automation presently has a consensus rating of "Moderate Buy" and a consensus price target of $324.37.
Read Our Latest Report on ROK
About Rockwell Automation
(
Free Report)
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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