Bedell Frazier Investment Counselling LLC bought a new stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,203 shares of the industrial products company's stock, valued at approximately $4,631,000. Rockwell Automation accounts for 1.1% of Bedell Frazier Investment Counselling LLC's holdings, making the stock its 27th largest holding.
A number of other hedge funds have also recently modified their holdings of ROK. Wellington Management Group LLP raised its stake in shares of Rockwell Automation by 85,513.1% during the fourth quarter. Wellington Management Group LLP now owns 675,487 shares of the industrial products company's stock valued at $193,047,000 after acquiring an additional 674,698 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in Rockwell Automation by 33.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,785 shares of the industrial products company's stock valued at $1,939,000 after purchasing an additional 1,686 shares in the last quarter. RWA Wealth Partners LLC lifted its holdings in shares of Rockwell Automation by 45.1% in the 4th quarter. RWA Wealth Partners LLC now owns 3,322 shares of the industrial products company's stock worth $949,000 after buying an additional 1,033 shares during the period. Schroder Investment Management Group grew its position in shares of Rockwell Automation by 14.9% during the 4th quarter. Schroder Investment Management Group now owns 14,478 shares of the industrial products company's stock worth $4,135,000 after buying an additional 1,872 shares in the last quarter. Finally, L & S Advisors Inc purchased a new position in shares of Rockwell Automation during the fourth quarter valued at $7,067,000. Institutional investors own 75.75% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on ROK. KeyCorp upgraded shares of Rockwell Automation from a "sector weight" rating to an "overweight" rating and set a $345.00 price objective on the stock in a research note on Monday, December 9th. HSBC upgraded Rockwell Automation from a "hold" rating to a "buy" rating and set a $355.00 price objective for the company in a report on Wednesday, December 11th. Robert W. Baird boosted their target price on shares of Rockwell Automation from $305.00 to $315.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 11th. Loop Capital raised their price target on shares of Rockwell Automation from $260.00 to $280.00 and gave the stock a "hold" rating in a report on Tuesday, February 25th. Finally, Barclays dropped their price objective on shares of Rockwell Automation from $285.00 to $280.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Rockwell Automation currently has a consensus rating of "Hold" and an average target price of $307.42.
Read Our Latest Analysis on Rockwell Automation
Insider Transactions at Rockwell Automation
In other news, SVP Tessa M. Myers sold 1,231 shares of Rockwell Automation stock in a transaction on Friday, February 28th. The stock was sold at an average price of $285.43, for a total value of $351,364.33. Following the completion of the sale, the senior vice president now directly owns 3,650 shares of the company's stock, valued at approximately $1,041,819.50. The trade was a 25.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Scott Genereux sold 500 shares of Rockwell Automation stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $290.14, for a total value of $145,070.00. Following the completion of the transaction, the vice president now directly owns 1,905 shares of the company's stock, valued at approximately $552,716.70. This represents a 20.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,352 shares of company stock worth $1,246,298. 0.68% of the stock is currently owned by company insiders.
Rockwell Automation Trading Down 4.9 %
NYSE:ROK traded down $11.75 during trading hours on Friday, hitting $227.41. The company had a trading volume of 548,528 shares, compared to its average volume of 868,382. Rockwell Automation, Inc. has a 1 year low of $218.48 and a 1 year high of $308.70. The company has a market cap of $25.71 billion, a P/E ratio of 28.28, a P/E/G ratio of 3.53 and a beta of 1.39. The company has a 50-day moving average of $276.11 and a 200 day moving average of $278.48. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72.
Rockwell Automation (NYSE:ROK - Get Free Report) last posted its earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.22. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. Sell-side analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.
Rockwell Automation Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $1.31 dividend. This represents a $5.24 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, May 19th. Rockwell Automation's dividend payout ratio (DPR) is presently 65.26%.
Rockwell Automation Profile
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Free Report)
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.
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