Raymond James Financial Inc. Makes New Investment in Rockwell Automation, Inc. (NYSE:ROK)

Raymond James Financial Inc. purchased a new position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 113,831 shares of the industrial products company's stock, valued at approximately $32,532,000. Raymond James Financial Inc. owned about 0.10% of Rockwell Automation as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ROK. Cullen Frost Bankers Inc. boosted its holdings in shares of Rockwell Automation by 5.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 5,412 shares of the industrial products company's stock worth $1,547,000 after acquiring an additional 265 shares during the period. Arizona State Retirement System boosted its holdings in shares of Rockwell Automation by 0.9% during the fourth quarter. Arizona State Retirement System now owns 32,957 shares of the industrial products company's stock worth $9,419,000 after acquiring an additional 296 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Rockwell Automation during the fourth quarter worth approximately $56,887,000. Atria Investments Inc boosted its stake in shares of Rockwell Automation by 67.8% in the fourth quarter. Atria Investments Inc now owns 2,163 shares of the industrial products company's stock valued at $618,000 after buying an additional 874 shares during the period. Finally, Assetmark Inc. boosted its stake in shares of Rockwell Automation by 22.6% in the fourth quarter. Assetmark Inc. now owns 3,047 shares of the industrial products company's stock valued at $871,000 after buying an additional 561 shares during the period. Institutional investors and hedge funds own 75.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ROK shares. The Goldman Sachs Group upped their target price on Rockwell Automation from $257.00 to $290.00 and gave the stock a "sell" rating in a research note on Tuesday, February 11th. KeyCorp upgraded shares of Rockwell Automation from a "sector weight" rating to an "overweight" rating and set a $345.00 price target for the company in a report on Monday, December 9th. Morgan Stanley upped their price target on shares of Rockwell Automation from $335.00 to $345.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Jefferies Financial Group upgraded shares of Rockwell Automation from a "hold" rating to a "buy" rating and upped their price target for the stock from $290.00 to $350.00 in a report on Thursday, December 12th. Finally, BNP Paribas downgraded Rockwell Automation from a "strong-buy" rating to a "hold" 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $307.68.

Remove Ads

Rockwell Automation Stock Down 2.5 %

Shares of NYSE ROK opened at $255.30 on Friday. Rockwell Automation, Inc. has a 52 week low of $242.81 and a 52 week high of $308.70. The business has a 50-day simple moving average of $282.55 and a two-hundred day simple moving average of $278.64. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.72. The company has a market cap of $28.87 billion, a P/E ratio of 31.79, a P/E/G ratio of 3.53 and a beta of 1.39.

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

Rockwell Automation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were issued a $1.31 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $5.24 annualized dividend and a dividend yield of 2.05%. Rockwell Automation's payout ratio is currently 65.26%.

Insider Buying and Selling at Rockwell Automation

In related news, SVP Tessa M. Myers sold 1,231 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $285.43, for a total transaction of $351,364.33. Following the transaction, the senior vice president now directly owns 3,650 shares of the company's stock, valued at approximately $1,041,819.50. This trade represents a 25.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Scott Genereux sold 500 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were 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 approximately $552,716.70. This represents a 20.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,352 shares of company stock valued at $1,246,298 in the last 90 days. Corporate insiders own 0.68% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.