New York Life Investment Management LLC Boosts Stake in Rockwell Automation, Inc. (NYSE:ROK)

New York Life Investment Management LLC raised its position in Rockwell Automation, Inc. (NYSE:ROK) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,490 shares of the industrial products company’s stock after purchasing an additional 487 shares during the quarter. New York Life Investment Management LLC’s holdings in Rockwell Automation were worth $5,741,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in shares of Rockwell Automation during the third quarter worth approximately $26,000. Provence Wealth Management Group purchased a new position in shares of Rockwell Automation during the third quarter worth approximately $27,000. Bruce G. Allen Investments LLC purchased a new position in shares of Rockwell Automation during the fourth quarter worth approximately $27,000. BluePath Capital Management LLC purchased a new position in Rockwell Automation during the third quarter valued at approximately $29,000. Finally, Fortitude Family Office LLC purchased a new position in Rockwell Automation during the fourth quarter valued at approximately $46,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Price Performance

NYSE:ROK opened at $274.05 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The stock has a 50 day moving average of $282.21 and a two-hundred day moving average of $283.15. Rockwell Automation, Inc. has a 12 month low of $252.11 and a 12 month high of $348.52. The firm has a market cap of $31.40 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 2.72 and a beta of 1.43.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.58). Rockwell Automation had a return on equity of 37.22% and a net margin of 13.35%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the business earned $2.46 EPS. On average, analysts expect that Rockwell Automation, Inc. will post 11.98 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

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 paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.82%. Rockwell Automation’s dividend payout ratio (DPR) is 47.57%.

Insiders Place Their Bets

In other Rockwell Automation news, CFO Nicholas C. Gangestad sold 1,989 shares of the business’s stock in a transaction on Monday, March 4th. The shares were 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 owns 12,217 shares in the company, valued at $3,520,572.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Blake D. Moret purchased 3,500 shares of Rockwell Automation stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $283.64 per share, with a total value of $992,740.00. Following the completion of the transaction, the chief executive officer now directly owns 77,215 shares in the company, valued at $21,901,262.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Nicholas C. Gangestad sold 1,989 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $288.17, for a total transaction of $573,170.13. Following the completion of the sale, the chief financial officer now directly owns 12,217 shares of the company’s stock, valued at $3,520,572.89. The disclosure for this sale can be found here. Insiders sold a total of 17,240 shares of company stock worth $4,891,324 over the last 90 days. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Oppenheimer cut their price objective on shares of Rockwell Automation from $324.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, February 1st. Mizuho lowered their target price on shares of Rockwell Automation from $300.00 to $265.00 and set a “neutral” rating for the company in a research note on Thursday, February 1st. Barclays lowered their target price on shares of Rockwell Automation from $269.00 to $265.00 and set an “underweight” rating for the company in a research note on Tuesday, April 2nd. Wells Fargo & Company lowered their target price on shares of Rockwell Automation from $357.00 to $320.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Finally, Berenberg Bank restated a “hold” rating and issued a $290.00 target price (down from $330.00) on shares of Rockwell Automation in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $310.08.

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.