Clearstead Trust LLC acquired a new stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,526 shares of the industrial products company's stock, valued at approximately $436,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in Rockwell Automation by 0.3% in the 3rd quarter. State Street Corp now owns 4,648,137 shares of the industrial products company's stock valued at $1,247,839,000 after acquiring an additional 11,949 shares in the last quarter. Geode Capital Management LLC raised its position in Rockwell Automation by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,683,202 shares of the industrial products company's stock valued at $717,865,000 after purchasing an additional 14,040 shares in the last quarter. Amundi raised its position in Rockwell Automation by 26.2% during the fourth 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position in Rockwell Automation by 0.9% during the fourth 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Rockwell Automation by 6.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,128,811 shares of the industrial products company's stock valued at $303,041,000 after purchasing an additional 67,684 shares in the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on ROK. Jefferies Financial Group upgraded shares of Rockwell Automation from a "hold" rating to a "buy" rating and raised their target price for the company from $290.00 to $350.00 in a research report on Thursday, December 12th. Loop Capital raised their target price on shares of Rockwell Automation from $260.00 to $280.00 and gave the company a "hold" rating in a research report on Tuesday, February 25th. Stephens raised shares of Rockwell Automation from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $275.00 to $350.00 in a report on Thursday, January 16th. JPMorgan Chase & Co. reduced their target price on shares of Rockwell Automation from $245.00 to $240.00 and set an "underweight" rating on the stock in a report on Wednesday, January 15th. Finally, Wells Fargo & Company boosted their target price on shares of Rockwell Automation from $315.00 to $337.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $307.68.
Check Out Our Latest Stock Report on ROK
Rockwell Automation Stock Up 0.8 %
Shares of NYSE ROK traded up $2.06 during trading on Wednesday, hitting $260.19. 774,178 shares of the company traded hands, compared to its average volume of 825,451. The business's fifty day moving average is $281.24 and its 200 day moving average is $278.68. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $308.70. The firm has a market capitalization of $29.42 billion, a price-to-earnings ratio of 32.40, a P/E/G ratio of 3.53 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.08.
Rockwell Automation (NYSE:ROK - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The industrial products company reported $1.83 earnings per share for the quarter, beating 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 predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.
Rockwell Automation Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were paid a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Tuesday, February 18th. Rockwell Automation's dividend payout ratio (DPR) is 65.26%.
Insiders Place Their Bets
In other Rockwell Automation news, VP Scott Genereux sold 500 shares of Rockwell Automation stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $290.14, for a total transaction of $145,070.00. Following the transaction, the vice president now directly owns 1,905 shares of the company's stock, valued at $552,716.70. The trade was a 20.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Terry L. Riesterer sold 850 shares of Rockwell Automation stock in a transaction 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 $490,242.93. This represents a 34.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,352 shares of company stock valued at $1,246,298 in the last three months. 0.68% of the stock is currently owned by insiders.
Rockwell Automation Company 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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