Westfield Capital Management Co. LP Sells 1,490 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Key Points

• Westfield Capital Management Co. LP reduced its holdings in Rockwell Automation by 0.7%, now owning 219,860 shares valued at approximately $56.8 million.
• Analysts have varying outlooks on Rockwell Automation, with a consensus rating of "Moderate Buy" and an average target price of $341.11, reflecting expectations for moderate growth.
• Rockwell Automation announced a $1.31 quarterly dividend per share, representing an annualized yield of 1.5%, with a payout ratio of 65.99%.

Westfield Capital Management Co. LP trimmed its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 219,860 shares of the industrial products company's stock after selling 1,490 shares during the period. Westfield Capital Management Co. LP owned 0.19% of Rockwell Automation worth $56,807,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ROK. Citizens National Bank Trust Department acquired a new position in Rockwell Automation in the 1st quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Rockwell Automation during the 1st quarter valued at $31,000. IMA Advisory Services Inc. acquired a new position in shares of Rockwell Automation in the first quarter worth $32,000. Parvin Asset Management LLC purchased a new stake in shares of Rockwell Automation during the fourth quarter worth $36,000. Finally, Cooksen Wealth LLC acquired a new stake in Rockwell Automation during the first quarter valued at $34,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Stock Performance

ROK stock traded up $1.08 on Friday, reaching $333.67. 874,648 shares of the company were exchanged, compared to its average volume of 946,023. The firm has a market capitalization of $37.61 billion, a PE ratio of 39.16, a PEG ratio of 3.35 and a beta of 1.39. Rockwell Automation, Inc. has a 12 month low of $215.00 and a 12 month high of $360.92. The stock's fifty day moving average price is $336.55 and its 200 day moving average price is $293.93. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.72.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the firm posted $2.71 EPS. The business's revenue was up 4.5% compared to the same quarter last year. On average, research analysts anticipate that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation's dividend payout ratio (DPR) is presently 65.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ROK shares. Bank of America raised Rockwell Automation from a "neutral" rating to a "buy" rating and raised their price target for the stock from $360.00 to $410.00 in a research note on Wednesday, July 16th. Loop Capital raised their price objective on shares of Rockwell Automation from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Thursday, May 15th. Wells Fargo & Company set a $345.00 target price on shares of Rockwell Automation and gave the stock an "equal weight" rating in a research report on Friday. Stephens restated an "overweight" rating and set a $375.00 price target (up previously from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $380.00 price objective (up previously from $370.00) on shares of Rockwell Automation in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Rockwell Automation currently has a consensus rating of "Moderate Buy" and a consensus target price of $339.47.

Insider Activity at Rockwell Automation

In related news, VP Terry L. Riesterer sold 269 shares of the firm's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $355.26, for a total value of $95,564.94. Following the completion of the transaction, the vice president directly owned 1,613 shares of the company's stock, valued at $573,034.38. This trade represents a 14.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Tessa M. Myers sold 363 shares of Rockwell Automation stock in a transaction 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 $1,325,838.16. This represents a 8.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,257 shares of company stock worth $2,990,715 in the last three months. Company insiders own 0.68% of the company's stock.

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.