Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC cut its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 58.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 824 shares of the industrial products company’s stock after selling 1,156 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Rockwell Automation were worth $213,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of ROK. Citizens National Bank Trust Department acquired a new position in shares of Rockwell Automation during the 1st quarter worth $26,000. Financial Gravity Asset Management Inc. acquired a new position in Rockwell Automation during the first quarter worth about $31,000. IMA Advisory Services Inc. purchased a new stake in shares of Rockwell Automation in the first quarter valued at about $32,000. Cooksen Wealth LLC purchased a new stake in shares of Rockwell Automation in the first quarter valued at about $34,000. Finally, Parvin Asset Management LLC acquired a new stake in shares of Rockwell Automation in the fourth quarter valued at approximately $36,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on ROK. Oppenheimer upped their target price on Rockwell Automation from $304.00 to $371.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. KeyCorp upped their price objective on Rockwell Automation from $360.00 to $370.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. BNP Paribas raised Rockwell Automation from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 9th. Wells Fargo & Company lifted their price objective on Rockwell Automation from $315.00 to $365.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. Finally, Citigroup restated a “buy” rating and issued a $392.00 target price (up from $371.00) on shares of Rockwell Automation in a report on Monday, July 14th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $341.11.

Insider Buying and Selling at Rockwell Automation

In other news, SVP Matheus De A. G. Viera Bulho sold 939 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $304.24, for a total value of $285,681.36. Following the completion of the sale, the senior vice president owned 983 shares in the company, valued at approximately $299,067.92. This trade represents a 48.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Matthew W. Fordenwalt sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $320.02, for a total value of $160,010.00. Following the transaction, the senior vice president directly owned 2,709 shares in the company, valued at $866,934.18. This trade represents a 15.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,757 shares of company stock worth $3,138,220. Corporate insiders own 0.68% of the company’s stock.

Rockwell Automation Price Performance

ROK stock opened at $344.42 on Friday. The company has a market cap of $38.82 billion, a PE ratio of 43.38, a price-to-earnings-growth ratio of 3.59 and a beta of 1.39. The company has a current ratio of 1.05, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The stock has a 50-day moving average price of $334.32 and a two-hundred day moving average price of $292.37. Rockwell Automation, Inc. has a 12-month low of $215.00 and a 12-month high of $360.92.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share (EPS) 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 for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.50 EPS. As a group, 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. Investors 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 annualized dividend and a dividend yield of 1.5%. Rockwell Automation’s 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.