Federated Hermes Inc. Reduces Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

Federated Hermes Inc. decreased its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 74.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,166 shares of the industrial products company's stock after selling 81,176 shares during the quarter. Federated Hermes Inc.'s holdings in Rockwell Automation were worth $8,050,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Ilmarinen Mutual Pension Insurance Co grew its position in shares of Rockwell Automation by 58.3% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 19,000 shares of the industrial products company's stock worth $5,430,000 after buying an additional 7,000 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Rockwell Automation by 6.6% during the fourth quarter. Russell Investments Group Ltd. now owns 34,990 shares of the industrial products company's stock valued at $9,998,000 after purchasing an additional 2,174 shares in the last quarter. Hemenway Trust Co LLC lifted its holdings in shares of Rockwell Automation by 1.3% during the fourth quarter. Hemenway Trust Co LLC now owns 109,227 shares of the industrial products company's stock valued at $31,216,000 after purchasing an additional 1,436 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in shares of Rockwell Automation by 3.3% during the fourth quarter. Wedbush Securities Inc. now owns 2,500 shares of the industrial products company's stock valued at $714,000 after purchasing an additional 81 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Rockwell Automation by 180.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 191,139 shares of the industrial products company's stock worth $54,626,000 after purchasing an additional 122,890 shares in the last quarter. Institutional investors own 75.75% of the company's stock.

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Rockwell Automation Price Performance

Rockwell Automation stock traded down $2.33 during mid-day trading on Wednesday, reaching $230.72. The company had a trading volume of 151,325 shares, compared to its average volume of 864,807. The stock's 50-day simple moving average is $266.68 and its 200-day simple moving average is $276.11. Rockwell Automation, Inc. has a 1 year low of $215.00 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 $26.09 billion, a P/E ratio of 28.74, a P/E/G ratio of 3.53 and a beta of 1.39.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its earnings results on Monday, February 10th. The industrial products company reported $1.83 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. On average, equities analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a $1.31 dividend. The ex-dividend date is Monday, May 19th. This represents a $5.24 annualized dividend and a dividend yield of 2.27%. Rockwell Automation's dividend payout ratio is presently 65.26%.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, SVP Matheus De A. G. Viera Bulho sold 293 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $257.68, for a total transaction of $75,500.24. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Scott Genereux sold 500 shares of Rockwell Automation 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 completion of the transaction, the vice president now directly owns 1,905 shares in the company, valued at $552,716.70. This represents a 20.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,750 shares of company stock worth $1,075,923. 0.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on ROK. JPMorgan Chase & Co. dropped their target price on Rockwell Automation from $248.00 to $201.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Stephens upgraded shares of Rockwell Automation from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $275.00 to $350.00 in a research note on Thursday, January 16th. Robert W. Baird increased their price target on shares of Rockwell Automation from $305.00 to $315.00 and gave the company an "outperform" rating in a report on Tuesday, February 11th. Citigroup lowered their price objective on Rockwell Automation from $350.00 to $283.00 and set a "buy" rating on the stock in a research report on Monday. Finally, BNP Paribas raised Rockwell Automation from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 9th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $297.11.

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.