Rockwell Automation, Inc. (NYSE:ROK) Stake Lessened by Legal & General Group Plc

Legal & General Group Plc reduced its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 22.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 713,282 shares of the industrial products company's stock after selling 208,225 shares during the period. Legal & General Group Plc owned approximately 0.63% of Rockwell Automation worth $203,849,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ROK. Norges Bank acquired a new position in shares of Rockwell Automation in the fourth quarter worth about $284,177,000. Wellington Management Group LLP raised its position in shares of Rockwell Automation by 85,513.1% in the 4th quarter. Wellington Management Group LLP now owns 675,487 shares of the industrial products company's stock valued at $193,047,000 after purchasing an additional 674,698 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Rockwell Automation by 102.3% during the 4th quarter. Alliancebernstein L.P. now owns 1,287,731 shares of the industrial products company's stock valued at $368,021,000 after buying an additional 651,116 shares during the last quarter. Amundi grew its position in shares of Rockwell Automation by 26.2% during the fourth quarter. Amundi now owns 2,073,594 shares of the industrial products company's stock worth $580,095,000 after buying an additional 430,498 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Rockwell Automation in the fourth quarter worth $56,887,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several research analysts have weighed in on ROK shares. Loop Capital raised their price objective 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. Morgan Stanley boosted their price objective on Rockwell Automation from $335.00 to $345.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Robert W. Baird increased their target price on Rockwell Automation from $305.00 to $315.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Stephens raised Rockwell Automation from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $275.00 to $350.00 in a research report on Thursday, January 16th. Finally, BNP Paribas raised shares of Rockwell Automation from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Rockwell Automation has a consensus rating of "Hold" and an average price target of $297.11.

Rockwell Automation Stock Performance

Shares of ROK traded up $1.00 during trading hours on Tuesday, reaching $234.42. 291,800 shares of the company's stock traded hands, compared to its average volume of 867,722. The firm has a market capitalization of $26.51 billion, a price-to-earnings ratio of 29.19, a P/E/G ratio of 3.53 and a beta of 1.39. The business's fifty day simple moving average is $267.39 and its two-hundred day simple moving average is $276.41. Rockwell Automation, Inc. has a twelve month low of $215.00 and a twelve month high of $308.70. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.08 and a quick ratio of 0.72.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The industrial products company reported $1.83 EPS 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%. Analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Monday, May 19th. Rockwell Automation's dividend payout ratio is presently 65.26%.

Insider Activity

In related news, VP Scott Genereux sold 500 shares of Rockwell Automation stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $290.14, for a total value of $145,070.00. Following the transaction, the vice president now directly owns 1,905 shares in the company, valued at $552,716.70. The trade was a 20.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Matheus De A. G. Viera Bulho sold 293 shares of Rockwell Automation 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. This represents a 13.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,750 shares of company stock worth $1,075,923 over the last 90 days. 0.68% of the stock is currently owned by company 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.