Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP lowered its position in Rockwell Automation, Inc. (NYSE:ROK) by 0.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 219,860 shares of the industrial products company’s stock after selling 1,490 shares during the period. Westfield Capital Management Co. LP’s holdings in Rockwell Automation were worth $56,807,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ROK. Brighton Jones LLC purchased a new stake in shares of Rockwell Automation during the fourth quarter worth about $281,000. Bank Pictet & Cie Europe AG increased its stake in shares of Rockwell Automation by 0.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company’s stock worth $1,199,000 after purchasing an additional 38 shares in the last quarter. World Investment Advisors purchased a new stake in shares of Rockwell Automation during the fourth quarter worth about $670,000. Prudential PLC increased its stake in shares of Rockwell Automation by 38.0% during the fourth quarter. Prudential PLC now owns 9,269 shares of the industrial products company’s stock worth $2,649,000 after purchasing an additional 2,553 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Rockwell Automation by 4.6% during the fourth quarter. Wells Fargo & Company MN now owns 249,119 shares of the industrial products company’s stock worth $71,196,000 after purchasing an additional 11,066 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, SVP Tessa M. Myers sold 363 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $326.32, for a total transaction of $118,454.16. Following the sale, the senior vice president directly owned 4,063 shares in the company, valued at $1,325,838.16. This represents a 8.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Terry L. Riesterer sold 269 shares of the stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $355.26, for a total transaction of $95,564.94. Following the sale, the vice president owned 1,613 shares in the company, valued at approximately $573,034.38. This trade represents a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,757 shares of company stock worth $3,138,220 over the last 90 days. 0.68% of the stock is currently owned by corporate insiders.

Rockwell Automation Stock Performance

Shares of ROK stock opened at $350.16 on Tuesday. The firm’s 50 day moving average price is $335.21 and its 200-day moving average price is $293.01. 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 $360.92. The firm has a market cap of $39.47 billion, a P/E ratio of 44.10, a P/E/G ratio of 3.52 and a beta of 1.39.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.09 by $0.36. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the business posted $2.50 EPS. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, equities research analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be issued a dividend of $1.31 per share. The ex-dividend date is Monday, August 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.5%. Rockwell Automation’s dividend payout ratio is 65.99%.

Analyst Ratings Changes

ROK has been the subject of a number of research reports. Loop Capital boosted their target price 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. BNP Paribas raised shares of Rockwell Automation from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 9th. KeyCorp upped their price objective on shares of Rockwell Automation from $360.00 to $370.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. TD Cowen raised shares of Rockwell Automation from a “sell” rating to a “hold” rating and set a $275.00 price objective for the company in a research note on Friday, May 9th. Finally, Bank of America raised shares of Rockwell Automation from a “neutral” rating to a “buy” rating and upped their price objective for the company from $360.00 to $410.00 in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $341.11.

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.