Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS trimmed its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 84.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,602 shares of the industrial products company's stock after selling 31,105 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Rockwell Automation were worth $1,601,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ROK. Gladstone Institutional Advisory LLC increased its stake in Rockwell Automation by 33.2% during the third quarter. Gladstone Institutional Advisory LLC now owns 1,377 shares of the industrial products company's stock worth $370,000 after acquiring an additional 343 shares during the last quarter. MCF Advisors LLC grew its stake in shares of Rockwell Automation by 95.8% during the fourth quarter. MCF Advisors LLC now owns 2,332 shares of the industrial products company's stock valued at $667,000 after buying an additional 1,141 shares during the last quarter. Ameritas Advisory Services LLC grew its stake in shares of Rockwell Automation by 99.1% during the fourth quarter. Ameritas Advisory Services LLC now owns 5,187 shares of the industrial products company's stock valued at $1,482,000 after buying an additional 2,582 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Rockwell Automation during the third quarter valued at approximately $912,000. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Rockwell Automation by 6.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 34,209 shares of the industrial products company's stock valued at $9,184,000 after buying an additional 1,928 shares during the last quarter. 75.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ROK shares. Jefferies Financial Group raised Rockwell Automation from a "hold" rating to a "buy" rating and upped their target price for the company from $290.00 to $350.00 in a research note on Thursday, December 12th. The Goldman Sachs Group upped their target price on Rockwell Automation from $257.00 to $290.00 and gave the company a "sell" rating in a research note on Tuesday, February 11th. Morgan Stanley upped their target price on Rockwell Automation from $335.00 to $345.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. HSBC upgraded Rockwell Automation from a "hold" rating to a "buy" rating and set a $355.00 price target for the company in a report on Wednesday, December 11th. Finally, BNP Paribas lowered Rockwell Automation from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $308.05.

Insider Transactions at Rockwell Automation

In other news, VP Terry L. Riesterer sold 850 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $300.21, for a total transaction of $255,178.50. Following the sale, the vice president now directly owns 1,633 shares of the company's stock, valued at $490,242.93. This represents a 34.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Blake D. Moret sold 26,700 shares of Rockwell Automation stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $298.63, for a total value of $7,973,421.00. Following the completion of the sale, the chief executive officer now owns 78,115 shares in the company, valued at approximately $23,327,482.45. The trade was a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,240 shares of company stock valued at $10,800,555 in the last ninety days. 0.68% of the stock is currently owned by corporate insiders.

Rockwell Automation Stock Down 2.4 %

Shares of ROK traded down $7.38 during midday trading on Friday, hitting $295.80. 645,640 shares of the company's stock traded hands, compared to its average volume of 842,875. The firm's fifty day moving average is $286.35 and its 200-day moving average is $276.84. The stock has a market capitalization of $33.45 billion, a price-to-earnings ratio of 36.84, a price-to-earnings-growth ratio of 3.49 and a beta of 1.35. 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, Inc. has a 1 year low of $242.81 and a 1 year high of $308.70.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced 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%. As a group, sell-side analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Tuesday, February 18th. Rockwell Automation's payout ratio is currently 65.26%.

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.