Assenagon Asset Management S.A. Boosts Stake in Rockwell Automation, Inc. (NYSE:ROK)

Assenagon Asset Management S.A. increased its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 357.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,239 shares of the industrial products company's stock after buying an additional 29,105 shares during the period. Assenagon Asset Management S.A.'s holdings in Rockwell Automation were worth $10,643,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Prospera Financial Services Inc raised its holdings in shares of 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 valued at $1,083,000 after purchasing an additional 37 shares during the last quarter. Great Valley Advisor Group Inc. raised its stake in Rockwell Automation by 2.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 1,928 shares of the industrial products company's stock valued at $518,000 after acquiring an additional 42 shares during the period. Second Line Capital LLC lifted its stake in shares of Rockwell Automation by 5.1% during the 2nd quarter. Second Line Capital LLC now owns 963 shares of the industrial products company's stock valued at $265,000 after buying an additional 47 shares in the last quarter. Richardson Financial Services Inc. lifted its position in shares of Rockwell Automation by 100.0% during the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company's stock worth $26,000 after acquiring an additional 48 shares in the last quarter. Finally, Moran Wealth Management LLC lifted its holdings in Rockwell Automation by 2.1% during the 3rd quarter. Moran Wealth Management LLC now owns 2,342 shares of the industrial products company's stock worth $629,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. UBS Group initiated coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They set a "neutral" rating and a $313.00 price target for the company. HSBC raised shares of Rockwell Automation from a "hold" rating to a "buy" rating and set a $355.00 price target on the stock in a research note on Wednesday, December 11th. Bank of America increased their target price on Rockwell Automation from $270.00 to $285.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Robert W. Baird upped their price target on shares of Rockwell Automation from $290.00 to $305.00 and gave the company an "outperform" rating in a report on Tuesday, November 26th. Finally, Jefferies Financial Group upgraded Rockwell Automation from a "hold" rating to a "buy" rating and increased their price objective for the stock from $290.00 to $350.00 in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $304.16.

Rockwell Automation Price Performance

Shares of ROK traded up $6.10 during mid-day trading on Friday, hitting $287.06. 942,067 shares of the company were exchanged, compared to its average volume of 719,310. The stock has a market cap of $32.45 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 2.87 and a beta of 1.36. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $307.71. The company has a 50 day moving average of $287.88 and a 200-day moving average of $274.32. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.07. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the firm earned $3.64 earnings per share. The company's revenue for the quarter was down 20.6% compared to the same quarter last year. Analysts expect that Rockwell Automation, Inc. will post 9.37 EPS for the current fiscal year.

Rockwell Automation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a $1.31 dividend. This represents a $5.24 annualized dividend and a yield of 1.83%. This is a positive change from Rockwell Automation's previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, November 18th. Rockwell Automation's payout ratio is presently 63.29%.

Insider Activity

In other Rockwell Automation news, VP Scott Genereux sold 278 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $302.04, for a total transaction of $83,967.12. Following the sale, the vice president now directly owns 3,184 shares in the company, valued at $961,695.36. This represents a 8.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Veena M. Lakkundi sold 579 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $266.86, for a total value of $154,511.94. Following the completion of the sale, the senior vice president now owns 4,576 shares in the company, valued at approximately $1,221,151.36. The trade was a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,436 shares of company stock valued at $10,832,549 in the last 90 days. Company 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.