MTM Investment Management LLC Lowers Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

MTM Investment Management LLC cut its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 4.2% in the first quarter, Holdings Channel reports. The institutional investor owned 1,958 shares of the industrial products company’s stock after selling 85 shares during the quarter. MTM Investment Management LLC’s holdings in Rockwell Automation were worth $507,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ROK. Isthmus Partners LLC increased its holdings in Rockwell Automation by 2.9% in the 1st quarter. Isthmus Partners LLC now owns 42,939 shares of the industrial products company’s stock worth $11,095,000 after acquiring an additional 1,192 shares in the last quarter. CWM LLC grew its position in shares of Rockwell Automation by 3.7% in the first quarter. CWM LLC now owns 2,353 shares of the industrial products company’s stock valued at $608,000 after purchasing an additional 84 shares during the period. Drystone LLC increased its stake in shares of Rockwell Automation by 24.1% during the first quarter. Drystone LLC now owns 25,647 shares of the industrial products company’s stock worth $6,627,000 after purchasing an additional 4,975 shares in the last quarter. Stephens Investment Management Group LLC raised its position in shares of Rockwell Automation by 2.6% during the 1st quarter. Stephens Investment Management Group LLC now owns 184,167 shares of the industrial products company’s stock worth $47,585,000 after purchasing an additional 4,664 shares during the last quarter. Finally, Stephens Inc. AR lifted its stake in Rockwell Automation by 1.4% in the 1st quarter. Stephens Inc. AR now owns 25,822 shares of the industrial products company’s stock valued at $6,672,000 after buying an additional 349 shares in the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Matheus De A. G. Viera Bulho sold 526 shares of the company’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $325.35, for a total transaction of $171,134.10. Following the transaction, the senior vice president directly owned 983 shares in the company, valued at $319,819.05. This represents a 34.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tessa M. Myers sold 363 shares of Rockwell Automation stock in a transaction on Monday, June 9th. The shares were sold at an average price of $326.32, for a total value of $118,454.16. Following the completion of the sale, the senior vice president directly owned 4,063 shares of the company’s stock, valued at $1,325,838.16. The trade was a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,388 shares of company stock worth $2,307,487. Insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

ROK has been the subject of several research reports. Oppenheimer boosted their price objective on Rockwell Automation from $258.00 to $304.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. CICC Research initiated coverage on Rockwell Automation in a research report on Monday, July 7th. They set an “outperform” rating and a $381.00 price target for the company. Barclays increased their price objective on Rockwell Automation from $350.00 to $370.00 and gave the company an “overweight” rating in a research note on Wednesday, July 9th. BNP Paribas raised shares of Rockwell Automation from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 9th. Finally, Bank of America increased their target price on shares of Rockwell Automation from $330.00 to $360.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Rockwell Automation presently has a consensus rating of “Moderate Buy” and a consensus target price of $332.00.

Rockwell Automation Trading Down 0.5%

Shares of Rockwell Automation stock opened at $343.14 on Monday. The stock has a 50 day moving average of $317.25 and a 200 day moving average of $285.05. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 1.05. The firm has a market capitalization of $38.68 billion, a price-to-earnings ratio of 43.22, a PEG ratio of 3.86 and a beta of 1.38. Rockwell Automation, Inc. has a fifty-two week low of $215.00 and a fifty-two week high of $348.43.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.36. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Rockwell Automation had a return on equity of 30.16% and a net margin of 11.38%. The company’s revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.50 EPS. As a group, research analysts predict 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. Shareholders of record on Monday, August 18th 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 1.53%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation’s dividend payout ratio 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.