Sit Investment Associates Inc. Sells 2,075 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Sit Investment Associates Inc. lessened its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 42.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,780 shares of the industrial products company's stock after selling 2,075 shares during the period. Sit Investment Associates Inc.'s holdings in Rockwell Automation were worth $794,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. West Oak Capital LLC boosted its position in Rockwell Automation by 455.6% during the fourth quarter. West Oak Capital LLC now owns 100 shares of the industrial products company's stock worth $29,000 after purchasing an additional 82 shares during the period. Bank of Jackson Hole Trust acquired a new stake in shares of Rockwell Automation in the fourth quarter worth $34,000. SBI Securities Co. Ltd. bought a new stake in shares of Rockwell Automation during the 4th quarter worth $35,000. Flagship Wealth Advisors LLC acquired a new position in Rockwell Automation in the 4th quarter valued at $38,000. Finally, Knuff & Co LLC raised its holdings in Rockwell Automation by 41.0% in the 4th quarter. Knuff & Co LLC now owns 141 shares of the industrial products company's stock worth $40,000 after acquiring an additional 41 shares during the period. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Price Performance

NYSE ROK traded down $1.16 on Friday, reaching $229.01. The company's stock had a trading volume of 1,536,472 shares, compared to its average volume of 870,015. Rockwell Automation, Inc. has a 52 week low of $215.00 and a 52 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 firm has a market cap of $25.89 billion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 3.53 and a beta of 1.39. The business has a 50-day moving average price of $268.12 and a 200 day moving average price of $276.64.

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

Rockwell Automation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a dividend of $1.31 per share. The ex-dividend date is Monday, May 19th. This represents a $5.24 annualized dividend and a yield of 2.29%. Rockwell Automation's dividend 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 Rockwell Automation stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $285.43, for a total transaction of $351,364.33. Following the completion of the transaction, the senior vice president now directly owns 3,650 shares of the company's stock, valued at $1,041,819.50. This trade represents a 25.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Terry L. Riesterer sold 850 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $300.21, for a total transaction of $255,178.50. Following the completion of the transaction, the vice president now owns 1,633 shares in the company, valued at approximately $490,242.93. This trade represents a 34.23 % 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 valued at $1,075,923. 0.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Stephens raised Rockwell Automation from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $275.00 to $350.00 in a research report on Thursday, January 16th. Barclays lowered their target price on Rockwell Automation from $280.00 to $260.00 and set an "equal weight" rating on the stock in a report on Thursday. Oppenheimer lifted their price target on Rockwell Automation from $300.00 to $320.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. reduced their price objective on Rockwell Automation from $248.00 to $201.00 and set an "underweight" rating for the company in a research report on Tuesday. Finally, Morgan Stanley raised their price objective on shares of Rockwell Automation from $335.00 to $345.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Rockwell Automation has a consensus rating of "Hold" and a consensus price target of $300.63.

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.