Rockwell Automation, Inc. (NYSE:ROK) Stock Position Lifted by Royal Bank of Canada

Royal Bank of Canada raised its stake in Rockwell Automation, Inc. (NYSE:ROK) by 26.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 253,398 shares of the industrial products company’s stock after purchasing an additional 52,532 shares during the quarter. Royal Bank of Canada’s holdings in Rockwell Automation were worth $72,419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ROK. Rafferty Asset Management LLC increased its stake in shares of Rockwell Automation by 7.5% in the fourth quarter. Rafferty Asset Management LLC now owns 11,268 shares of the industrial products company’s stock worth $3,220,000 after acquiring an additional 782 shares during the last quarter. Raiffeisen Bank International AG purchased a new position in Rockwell Automation in the fourth quarter valued at about $241,000. ProShare Advisors LLC increased its position in Rockwell Automation by 13.5% in the 4th quarter. ProShare Advisors LLC now owns 16,546 shares of the industrial products company’s stock worth $4,729,000 after purchasing an additional 1,973 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of Rockwell Automation by 98.4% during the 4th quarter. Quantinno Capital Management LP now owns 4,240 shares of the industrial products company’s stock worth $1,212,000 after purchasing an additional 2,103 shares in the last quarter. Finally, Pathstone Holdings LLC lifted its holdings in shares of Rockwell Automation by 0.5% during the 4th quarter. Pathstone Holdings LLC now owns 24,401 shares of the industrial products company’s stock valued at $6,974,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Insider Activity

In other news, SVP Tessa M. Myers sold 1,231 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $285.43, for a total transaction of $351,364.33. Following the sale, the senior vice president now directly owns 3,650 shares in the company, valued at approximately $1,041,819.50. The trade was a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Terry L. Riesterer sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $304.13, for a total value of $760,325.00. Following the sale, the vice president now owns 1,033 shares in the company, valued at approximately $314,166.29. This represents a 70.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,839 shares of company stock worth $2,014,256. Company insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ROK. The Goldman Sachs Group lifted their price target on Rockwell Automation from $257.00 to $290.00 and gave the company a “sell” rating in a report on Tuesday, February 11th. BNP Paribas upgraded Rockwell Automation from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 9th. JPMorgan Chase & Co. lifted their price target on Rockwell Automation from $271.00 to $299.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Barclays lifted their price target on Rockwell Automation from $260.00 to $283.00 and gave the company an “equal weight” rating in a report on Thursday, May 8th. Finally, Wells Fargo & Company lifted their price target on Rockwell Automation from $265.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.37.

Rockwell Automation Stock Down 0.1%

Shares of ROK stock opened at $307.76 on Wednesday. Rockwell Automation, Inc. has a 12 month low of $215.00 and a 12 month high of $310.78. The firm has a market cap of $34.69 billion, a PE ratio of 38.33, a price-to-earnings-growth ratio of 3.53 and a beta of 1.32. The stock has a 50 day moving average of $257.34 and a 200-day moving average of $275.63. 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) last issued its quarterly 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 return on equity of 30.17% and a net margin of 11.38%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the company earned $2.50 earnings per share. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, equities analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, May 19th. Rockwell Automation’s dividend payout ratio is presently 65.99%.

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.