Truist Financial Corp Has $17.50 Million Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Truist Financial Corp lessened its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 15.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 56,361 shares of the industrial products company's stock after selling 10,351 shares during the quarter. Truist Financial Corp's holdings in Rockwell Automation were worth $17,499,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its stake in shares of Rockwell Automation by 8.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 23,236 shares of the industrial products company's stock worth $6,643,000 after purchasing an additional 1,864 shares during the period. Xponance Inc. boosted its stake in Rockwell Automation by 0.9% in the third quarter. Xponance Inc. now owns 26,983 shares of the industrial products company's stock worth $7,714,000 after buying an additional 245 shares in the last quarter. Dakota Wealth Management boosted its stake in Rockwell Automation by 242.4% in the third quarter. Dakota Wealth Management now owns 8,539 shares of the industrial products company's stock worth $2,441,000 after buying an additional 6,045 shares in the last quarter. Robbins Farley purchased a new stake in Rockwell Automation in the third quarter worth approximately $1,150,000. Finally, Financial Management Network Inc. boosted its stake in Rockwell Automation by 6.9% in the third quarter. Financial Management Network Inc. now owns 3,018 shares of the industrial products company's stock worth $871,000 after buying an additional 196 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company's stock.

Insiders Place Their Bets

In related news, VP Brian A. Shepherd sold 637 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $262.87, for a total value of $167,448.19. Following the completion of the sale, the vice president now owns 5,088 shares of the company's stock, valued at $1,337,482.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Nicholas C. Gangestad sold 1,989 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $288.17, for a total value of $573,170.13. Following the completion of the transaction, the chief financial officer now directly owns 12,217 shares in the company, valued at $3,520,572.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian A. Shepherd sold 637 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $262.87, for a total value of $167,448.19. Following the completion of the transaction, the vice president now owns 5,088 shares of the company's stock, valued at $1,337,482.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,877 shares of company stock worth $5,058,772. 0.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ROK has been the subject of a number of research reports. Barclays decreased their price objective on Rockwell Automation from $269.00 to $265.00 and set an "underweight" rating for the company in a report on Tuesday, April 2nd. Oppenheimer decreased their price objective on Rockwell Automation from $324.00 to $300.00 and set an "outperform" rating for the company in a report on Thursday, February 1st. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $254.00 price objective on shares of Rockwell Automation in a report on Thursday, March 21st. Wells Fargo & Company decreased their price objective on Rockwell Automation from $357.00 to $320.00 and set an "overweight" rating for the company in a report on Thursday, February 1st. Finally, Citigroup cut their target price on Rockwell Automation from $330.00 to $322.00 and set a "buy" rating on the stock in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Rockwell Automation has an average rating of "Hold" and a consensus target price of $310.08.

Rockwell Automation Stock Performance

Rockwell Automation stock traded down $1.09 during trading hours on Wednesday, hitting $269.87. 854,937 shares of the stock traded hands, compared to its average volume of 1,006,531. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.25 and a quick ratio of 0.80. The firm's 50 day moving average price is $282.39 and its 200-day moving average price is $283.24. The stock has a market capitalization of $30.92 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 2.83 and a beta of 1.43. Rockwell Automation, Inc. has a 1 year low of $252.11 and a 1 year high of $348.52.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.62 by ($0.58). The firm had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.08 billion. Rockwell Automation had a net margin of 13.35% and a return on equity of 37.22%. During the same quarter in the previous year, the firm posted $2.46 EPS. As a group, equities analysts expect that Rockwell Automation, Inc. will post 11.98 EPS for the current fiscal year.

Rockwell Automation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 13th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, May 10th. This represents a $5.00 dividend on an annualized basis and a yield of 1.85%. Rockwell Automation's dividend payout ratio is currently 47.57%.

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.