Fred Alger Management LLC Invests $2.98 Million in Rockwell Automation, Inc. (NYSE:ROK)

Fred Alger Management LLC acquired a new stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,430 shares of the industrial products company's stock, valued at approximately $2,981,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. West Oak Capital LLC boosted its holdings in shares of Rockwell Automation by 455.6% in the 4th quarter. West Oak Capital LLC now owns 100 shares of the industrial products company's stock valued at $29,000 after buying an additional 82 shares in the last quarter. Bank of Jackson Hole Trust purchased a new position in shares of Rockwell Automation during the fourth quarter worth approximately $34,000. SBI Securities Co. Ltd. purchased a new stake in shares of Rockwell Automation in the fourth quarter valued at about $35,000. Parvin Asset Management LLC purchased a new position in shares of Rockwell Automation during the fourth quarter worth about $36,000. Finally, Flagship Wealth Advisors LLC purchased a new stake in Rockwell Automation during the 4th quarter valued at approximately $38,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Rockwell Automation news, 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 sale, the senior vice president now owns 983 shares in the company, valued at $299,067.92. The trade was a 48.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Isaac Woods sold 876 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $284.03, for a total transaction of $248,810.28. Following the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $300,219.71. The trade was a 45.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,689 shares of company stock valued at $2,269,435. Company insiders own 0.68% of the company's stock.

Rockwell Automation Price Performance

Shares of Rockwell Automation stock traded up $9.28 on Tuesday, hitting $309.06. The company's stock had a trading volume of 1,350,930 shares, compared to its average volume of 874,255. The company has a market capitalization of $34.95 billion, a P/E ratio of 38.49, a price-to-earnings-growth ratio of 3.53 and a beta of 1.32. Rockwell Automation, Inc. has a 52-week low of $215.00 and a 52-week high of $310.76. The firm has a fifty day moving average price of $252.41 and a 200-day moving average price of $274.02. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.72.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.36. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the company posted $2.50 EPS. The firm's revenue for the quarter was down 5.9% on a year-over-year basis. On average, 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.31 per share. The ex-dividend date is Monday, May 19th. This represents a $5.24 dividend on an annualized basis and a yield of 1.70%. Rockwell Automation's dividend payout ratio (DPR) is currently 65.99%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Stephens raised Rockwell Automation from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $275.00 to $350.00 in a report on Thursday, January 16th. JPMorgan Chase & Co. raised shares of Rockwell Automation from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $201.00 to $271.00 in a research note on Thursday, May 8th. Loop Capital raised their target price on shares of Rockwell Automation from $260.00 to $280.00 and gave the stock a "hold" rating in a research note on Tuesday, February 25th. Robert W. Baird boosted their price target on shares of Rockwell Automation from $305.00 to $315.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 11th. Finally, TD Cowen raised shares of Rockwell Automation from a "sell" rating to a "hold" rating and set a $275.00 price target for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $308.37.

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.