Trueblood Wealth Management LLC Lowers Position in Rockwell Automation, Inc. (NYSE:ROK)

Trueblood Wealth Management LLC trimmed its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 7.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,518 shares of the industrial products company’s stock after selling 119 shares during the period. Trueblood Wealth Management LLC’s holdings in Rockwell Automation were worth $392,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in ROK. Teacher Retirement System of Texas increased its stake in Rockwell Automation by 39.1% during the fourth quarter. Teacher Retirement System of Texas now owns 1,063 shares of the industrial products company’s stock worth $304,000 after acquiring an additional 299 shares during the last quarter. Brighton Jones LLC bought a new position in Rockwell Automation in the fourth quarter worth approximately $281,000. Schroder Investment Management Group grew its stake in Rockwell Automation by 14.9% in the fourth quarter. Schroder Investment Management Group now owns 14,478 shares of the industrial products company’s stock worth $4,135,000 after purchasing an additional 1,872 shares in the last quarter. Savant Capital LLC lifted its holdings in Rockwell Automation by 119.7% during the fourth quarter. Savant Capital LLC now owns 6,631 shares of the industrial products company’s stock worth $1,895,000 after buying an additional 3,613 shares during the period. Finally, Sovran Advisors LLC purchased a new stake in Rockwell Automation during the fourth quarter worth $479,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, SVP Christopher Nardecchia sold 551 shares of the firm’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $326.31, for a total value of $179,796.81. Following the completion of the sale, the senior vice president now owns 12,711 shares in the company, valued at approximately $4,147,726.41. This trade represents a 4.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Isaac Woods sold 297 shares of Rockwell Automation stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $326.31, for a total transaction of $96,914.07. Following the completion of the transaction, the vice president now directly owns 1,691 shares in the company, valued at approximately $551,790.21. The trade was a 14.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,681 shares of company stock valued at $2,382,987 in the last ninety days. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

ROK has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Rockwell Automation from $271.00 to $299.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Citigroup raised their target price on Rockwell Automation from $327.00 to $371.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Morgan Stanley raised their target price on Rockwell Automation from $335.00 to $345.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. KeyCorp lifted their price objective on Rockwell Automation from $275.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Finally, BNP Paribas upgraded Rockwell Automation from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $316.21.

Rockwell Automation Stock Down 0.1%

NYSE ROK opened at $325.06 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.08 and a quick ratio of 0.72. The company’s 50 day simple moving average is $275.52 and its 200 day simple moving average is $279.56. Rockwell Automation, Inc. has a 12 month low of $215.00 and a 12 month high of $328.90. The company has a market capitalization of $36.64 billion, a P/E ratio of 40.48, a PEG ratio of 3.53 and a beta of 1.38.

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, beating analysts’ consensus estimates of $2.09 by $0.36. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the business earned $2.50 earnings per share. The firm’s revenue was down 5.9% compared to the same quarter last year. Equities research analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Monday, May 19th. Rockwell Automation’s dividend payout ratio (DPR) is presently 65.99%.

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.