Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc lessened its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 20.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 709 shares of the industrial products company’s stock after selling 182 shares during the quarter. AdvisorNet Financial Inc’s holdings in Rockwell Automation were worth $183,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Brighton Jones LLC acquired a new position in shares of Rockwell Automation during the 4th quarter valued at $281,000. Caprock Group LLC increased its position in shares of Rockwell Automation by 4.6% in the fourth quarter. Caprock Group LLC now owns 3,052 shares of the industrial products company’s stock worth $872,000 after acquiring an additional 135 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Rockwell Automation in the fourth quarter worth approximately $57,000. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Rockwell Automation by 5.4% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,387 shares of the industrial products company’s stock worth $968,000 after acquiring an additional 174 shares in the last quarter. Finally, Burford Brothers Inc. purchased a new position in shares of Rockwell Automation in the fourth quarter worth approximately $498,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Trading Up 0.5%

Shares of NYSE:ROK opened at $317.13 on Tuesday. The stock has a market capitalization of $35.75 billion, a PE ratio of 39.49, a P/E/G ratio of 3.53 and a beta of 1.32. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $320.59. The firm has a fifty day moving average price of $265.83 and a 200 day moving average price of $277.56. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.36. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. The firm’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.50 EPS. Analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders 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 1.65%. Rockwell Automation’s payout ratio is currently 65.99%.

Insiders Place Their Bets

In related news, SVP Matheus De A. G. Viera Bulho sold 293 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $257.68, for a total transaction of $75,500.24. Following the completion of the sale, the senior vice president now owns 1,922 shares in the company, valued at $495,260.96. This represents a 13.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Matthew W. Fordenwalt sold 450 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $315.02, for a total value of $141,759.00. Following the sale, the senior vice president now owns 2,838 shares of the company’s stock, valued at approximately $894,026.76. The trade was a 13.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,682 shares of company stock valued at $1,410,771 over the last 90 days. 0.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ROK has been the topic of several research analyst reports. Citigroup lifted their price objective on shares of Rockwell Automation from $283.00 to $327.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. BNP Paribas upgraded Rockwell Automation from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 9th. 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. Robert W. Baird lifted their target price on Rockwell Automation from $305.00 to $315.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, Loop Capital lifted their target price on Rockwell Automation from $280.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, May 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $313.89.

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.