Adage Capital Partners GP L.L.C. Acquires 309,893 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Adage Capital Partners GP L.L.C. grew its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 289.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 416,893 shares of the industrial products company's stock after purchasing an additional 309,893 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.37% of Rockwell Automation worth $119,144,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Rockwell Automation by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 13,876,530 shares of the industrial products company's stock valued at $3,965,774,000 after buying an additional 81,079 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rockwell Automation by 6.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,115,280 shares of the industrial products company's stock worth $2,033,476,000 after purchasing an additional 432,934 shares during the period. Geode Capital Management LLC grew its stake in shares of Rockwell Automation by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 2,734,430 shares of the industrial products company's stock worth $779,426,000 after purchasing an additional 51,228 shares during the last quarter. Amundi increased its holdings in Rockwell Automation by 26.2% during the 4th quarter. Amundi now owns 2,073,594 shares of the industrial products company's stock valued at $580,095,000 after purchasing an additional 430,498 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Rockwell Automation by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,570,036 shares of the industrial products company's stock valued at $448,701,000 after purchasing an additional 13,744 shares during the last quarter. Institutional investors own 75.75% of the company's stock.

Rockwell Automation Stock Down 0.1 %

Rockwell Automation stock traded down $0.29 during trading hours on Friday, hitting $248.25. The stock had a trading volume of 511,449 shares, compared to its average volume of 869,163. The stock's 50-day moving average price is $257.14 and its 200-day moving average price is $274.37. Rockwell Automation, Inc. has a 12-month low of $215.00 and a 12-month high of $308.70. 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 stock has a market capitalization of $28.07 billion, a P/E ratio of 30.92, a price-to-earnings-growth ratio of 3.53 and a beta of 1.39.

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

Rockwell Automation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a $1.31 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $5.24 annualized dividend and a yield of 2.11%. Rockwell Automation's payout ratio is 65.26%.

Analysts Set New Price Targets

A number of equities analysts recently commented on ROK shares. KeyCorp decreased their target price on Rockwell Automation from $345.00 to $275.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group raised their target price on shares of Rockwell Automation from $257.00 to $290.00 and gave the stock a "sell" rating in a research report on Tuesday, February 11th. Barclays reduced their price target on shares of Rockwell Automation from $280.00 to $260.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Loop Capital lifted their price objective on Rockwell Automation from $260.00 to $280.00 and gave the company a "hold" rating in a research report on Tuesday, February 25th. Finally, Stephens raised Rockwell Automation from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $275.00 to $350.00 in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $297.11.

Insiders Place Their Bets

In related news, VP Isaac Woods sold 876 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $284.03, for a total transaction of $248,810.28. Following the completion of the sale, the vice president now owns 1,057 shares in the company, valued at approximately $300,219.71. This represents a 45.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matheus De A. G. Viera Bulho sold 293 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was 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 directly owns 1,922 shares in the company, valued at $495,260.96. The trade was a 13.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,750 shares of company stock valued at $1,075,923. 0.68% of the stock is owned by insiders.

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.