Rockwell Automation, Inc. (NYSE:ROK) Shares Acquired by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. grew its stake in Rockwell Automation, Inc. (NYSE:ROK) by 1.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 48,480 shares of the industrial products company’s stock after purchasing an additional 649 shares during the period. Rockwell Automation accounts for 1.6% of Cabot Wealth Management Inc.’s portfolio, making the stock its 22nd biggest position. Cabot Wealth Management Inc.’s holdings in Rockwell Automation were worth $12,526,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Bank of Jackson Hole Trust acquired a new position in shares of Rockwell Automation in the 4th quarter valued at $34,000. SBI Securities Co. Ltd. acquired a new position in shares of Rockwell Automation in the 4th quarter valued at $35,000. Parvin Asset Management LLC acquired a new position in shares of Rockwell Automation in the 4th quarter valued at $36,000. Flagship Wealth Advisors LLC acquired a new position in shares of Rockwell Automation in the 4th quarter valued at $38,000. Finally, Knuff & Co LLC boosted its holdings in shares of Rockwell Automation by 41.0% in the 4th quarter. Knuff & Co LLC now owns 141 shares of the industrial products company’s stock valued at $40,000 after buying an additional 41 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Stock Down 0.3%

Shares of Rockwell Automation stock opened at $320.97 on Friday. The company has a market cap of $36.18 billion, a P/E ratio of 40.42, a PEG ratio of 3.73 and a beta of 1.38. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 1.05. Rockwell Automation, Inc. has a one year low of $215.00 and a one year high of $328.90. The firm has a fifty day moving average of $288.41 and a two-hundred day moving average of $280.81.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data 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. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. Rockwell Automation’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.50 EPS. On average, analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be issued a $1.31 dividend. The ex-dividend date is Monday, August 18th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.63%. Rockwell Automation’s dividend payout ratio is presently 65.99%.

Insider Activity

In other news, SVP Matheus De A. G. Viera Bulho sold 293 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $257.68, for a total value of $75,500.24. Following the completion of the transaction, the senior vice president now owns 1,922 shares in the company, valued at $495,260.96. This trade represents a 13.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Tessa M. Myers sold 363 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $326.32, for a total transaction of $118,454.16. Following the completion of the transaction, the senior vice president now owns 4,063 shares of the company’s stock, valued at $1,325,838.16. This represents a 8.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,681 shares of company stock worth $2,382,987 in the last 90 days. 0.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ROK. Barclays upgraded shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $283.00 to $350.00 in a report on Friday, May 30th. Citigroup increased their price target on shares of Rockwell Automation from $327.00 to $371.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. BNP Paribas upgraded shares of Rockwell Automation from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 9th. KeyCorp reiterated an “overweight” rating and set a $360.00 price target (up previously from $345.00) on shares of Rockwell Automation in a research note on Friday, June 13th. Finally, Loop Capital increased their price target on shares of Rockwell Automation from $280.00 to $290.00 and gave the stock a “hold” rating in a research note on Thursday, May 15th. One 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $317.79.

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.