Primecap Management Co. CA Sells 3,150 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Primecap Management Co. CA cut its stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 257,030 shares of the industrial products company's stock after selling 3,150 shares during the quarter. Primecap Management Co. CA owned approximately 0.23% of Rockwell Automation worth $73,457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Empowered Funds LLC boosted its holdings in Rockwell Automation by 14.0% in the third quarter. Empowered Funds LLC now owns 6,938 shares of the industrial products company's stock worth $1,863,000 after purchasing an additional 851 shares in the last quarter. Quest Partners LLC bought a new stake in Rockwell Automation in the third quarter worth $537,000. Prospera Financial Services Inc boosted its holdings in Rockwell Automation by 0.9% in the third quarter. Prospera Financial Services Inc now owns 4,033 shares of the industrial products company's stock worth $1,083,000 after purchasing an additional 37 shares in the last quarter. SouthState Corp boosted its holdings in Rockwell Automation by 6.6% in the third quarter. SouthState Corp now owns 46,684 shares of the industrial products company's stock worth $12,533,000 after purchasing an additional 2,887 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Rockwell Automation in the third quarter worth $4,966,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Price Performance

NYSE:ROK traded up $0.58 during mid-day trading on Friday, hitting $258.67. The company's stock had a trading volume of 1,197,349 shares, compared to its average volume of 817,976. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $308.70. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $29.25 billion, a price-to-earnings ratio of 32.21, a P/E/G ratio of 3.53 and a beta of 1.39. The stock has a fifty day moving average of $280.13 and a 200-day moving average of $278.32.

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Rockwell Automation (NYSE:ROK - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts forecast that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently disclosed 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. This represents a $5.24 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Tuesday, February 18th. Rockwell Automation's payout ratio is 65.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. BNP Paribas cut shares of Rockwell Automation from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 11th. Wells Fargo & Company upped their price objective 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. Morgan Stanley upped their price target on shares of Rockwell Automation from $335.00 to $345.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Stephens upgraded shares of 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 report on Thursday, January 16th. Finally, The Goldman Sachs Group upped 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 analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $307.68.

Insider Transactions at Rockwell Automation

In other news, VP Scott Genereux sold 500 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the vice president now owns 1,905 shares of the company's stock, valued at approximately $552,716.70. This trade represents a 20.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Tessa M. Myers sold 1,231 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $285.43, for a total transaction of $351,364.33. Following 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,352 shares of company stock valued at $1,246,298. Corporate insiders own 0.68% of the company's stock.

Rockwell Automation 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.