Parnassus Investments LLC Makes New Investment in Rockwell Automation, Inc. (NYSE:ROK)

Parnassus Investments LLC purchased a new position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 62,471 shares of the industrial products company's stock, valued at approximately $17,854,000. Parnassus Investments LLC owned about 0.06% of Rockwell Automation as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Amundi increased its holdings in 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 during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Rockwell Automation by 33.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,556,292 shares of the industrial products company's stock valued at $417,802,000 after acquiring an additional 390,784 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Rockwell Automation during the 4th quarter worth about $56,887,000. Raymond James Financial Inc. bought a new stake in shares of Rockwell Automation in the 4th quarter valued at about $32,532,000. Finally, DAVENPORT & Co LLC lifted its stake in Rockwell Automation by 27.9% in the 4th quarter. DAVENPORT & Co LLC now owns 408,336 shares of the industrial products company's stock valued at $116,682,000 after purchasing an additional 88,962 shares during the last quarter. Institutional investors own 75.75% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Rockwell Automation from $315.00 to $337.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Jefferies Financial Group upgraded shares of Rockwell Automation from a "hold" rating to a "buy" rating and upped their price objective for the company from $290.00 to $350.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. cut their target price on shares of Rockwell Automation from $245.00 to $240.00 and set an "underweight" rating for the company in a research note on Wednesday, January 15th. Citigroup upped their price target on shares of Rockwell Automation from $345.00 to $350.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Finally, The Goldman Sachs Group increased their price target on shares of Rockwell Automation from $257.00 to $290.00 and gave the company a "sell" rating in a report on Tuesday, February 11th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $307.68.

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Rockwell Automation Price Performance

ROK stock traded down $3.97 during midday trading on Tuesday, reaching $258.02. The company had a trading volume of 775,830 shares, compared to its average volume of 824,693. The stock has a 50 day moving average price of $281.71 and a 200-day moving average price of $278.78. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year 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. The company has a market capitalization of $29.18 billion, a price-to-earnings ratio of 32.13, 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 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%. Equities research analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th were issued a dividend of $1.31 per share. The ex-dividend date was Tuesday, February 18th. This represents a $5.24 annualized dividend and a dividend yield of 2.03%. Rockwell Automation's dividend payout ratio (DPR) is presently 65.26%.

Insider Activity

In other Rockwell Automation news, VP Isaac Woods sold 895 shares of the company's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $274.72, for a total value of $245,874.40. Following the sale, the vice president now owns 1,198 shares in the company, valued at approximately $329,114.56. The trade was a 42.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Scott Genereux sold 500 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $290.14, for a total transaction of $145,070.00. Following the completion of the transaction, the vice president now owns 1,905 shares in the company, valued at $552,716.70. This trade represents a 20.79 % decrease in their position. 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. Insiders own 0.68% of the company's stock.

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.