Resona Asset Management Co. Ltd. Makes New Investment in Rockwell Automation, Inc. (NYSE:ROK)

Resona Asset Management Co. Ltd. acquired a new stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 34,846 shares of the industrial products company's stock, valued at approximately $9,983,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ROK. Integrated Wealth Concepts LLC grew its stake in shares of Rockwell Automation by 2.5% during the third quarter. Integrated Wealth Concepts LLC now owns 6,012 shares of the industrial products company's stock worth $1,614,000 after purchasing an additional 149 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Rockwell Automation in the 3rd quarter valued at about $8,909,000. Royal London Asset Management Ltd. raised its position in shares of Rockwell Automation by 3.2% during the 3rd quarter. Royal London Asset Management Ltd. now owns 47,115 shares of the industrial products company's stock worth $12,648,000 after acquiring an additional 1,483 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Rockwell Automation by 66.0% during the third quarter. Quantinno Capital Management LP now owns 2,137 shares of the industrial products company's stock worth $574,000 after purchasing an additional 850 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new position in Rockwell Automation in the third quarter valued at approximately $996,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Price Performance

Shares of ROK traded down $3.55 on Friday, reaching $226.61. The stock had a trading volume of 435,553 shares, compared to its average volume of 865,982. The firm has a 50-day moving average of $268.95 and a 200 day moving average of $276.84. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $25.62 billion, a PE ratio of 28.19, a PEG ratio of 3.53 and a beta of 1.39. Rockwell Automation, Inc. has a twelve month low of $215.00 and a twelve month high of $308.70.

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Rockwell Automation (NYSE:ROK - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. Sell-side analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a $1.31 dividend. The ex-dividend date is Monday, May 19th. This represents a $5.24 annualized dividend and a yield of 2.31%. Rockwell Automation's payout ratio is currently 65.26%.

Insider Buying and Selling at Rockwell Automation

In other news, SVP Tessa M. Myers sold 1,231 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $285.43, for a total transaction of $351,364.33. Following the completion of the transaction, the senior vice president now owns 3,650 shares of the company's stock, valued at $1,041,819.50. This represents a 25.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Terry L. Riesterer sold 850 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $300.21, for a total transaction of $255,178.50. Following the transaction, the vice president now directly owns 1,633 shares in the company, valued at approximately $490,242.93. This represents a 34.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,750 shares of company stock worth $1,075,923. Insiders own 0.68% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ROK. Oppenheimer boosted their price objective on shares of Rockwell Automation from $300.00 to $320.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 11th. Loop Capital upped their price objective on shares of Rockwell Automation from $260.00 to $280.00 and gave the company a "hold" rating in a research note on Tuesday, February 25th. Morgan Stanley lifted their target price on Rockwell Automation from $335.00 to $345.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Robert W. Baird upped their target price on Rockwell Automation from $305.00 to $315.00 and gave the company an "outperform" rating in a research report on Tuesday, February 11th. Finally, KeyCorp cut their price target on Rockwell Automation from $345.00 to $275.00 and set an "overweight" rating on the stock in a research report on Tuesday. Three analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Rockwell Automation presently has an average rating of "Hold" and an average price target of $300.63.

Rockwell Automation Company Profile

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.