Synovus Financial Corp Has $4.60 Million Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Synovus Financial Corp cut its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 15.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,080 shares of the industrial products company's stock after selling 2,986 shares during the quarter. Synovus Financial Corp's holdings in Rockwell Automation were worth $4,596,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Quantinno Capital Management LP increased its stake in shares of Rockwell Automation by 66.0% during the third quarter. Quantinno Capital Management LP now owns 2,137 shares of the industrial products company's stock worth $574,000 after acquiring an additional 850 shares during the period. Wellington Management Group LLP grew its holdings in Rockwell Automation by 7.3% during the third quarter. Wellington Management Group LLP now owns 789 shares of the industrial products company's stock worth $212,000 after acquiring an additional 54 shares during the period. Sunbelt Securities Inc. raised its position in Rockwell Automation by 34.5% in the third quarter. Sunbelt Securities Inc. now owns 694 shares of the industrial products company's stock worth $186,000 after acquiring an additional 178 shares in the last quarter. Virtu Financial LLC acquired a new stake in Rockwell Automation in the third quarter valued at $1,348,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Rockwell Automation during the 3rd quarter worth $464,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Rockwell Automation from $248.00 to $201.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. KeyCorp cut their price objective on Rockwell Automation from $345.00 to $275.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Stephens raised shares of Rockwell Automation from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $275.00 to $350.00 in a research note on Thursday, January 16th. Wells Fargo & Company increased their target price on Rockwell Automation from $315.00 to $337.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. Finally, Barclays cut their price objective on shares of Rockwell Automation from $280.00 to $260.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Rockwell Automation has an average rating of "Hold" and an average target price of $297.11.

Rockwell Automation Stock Performance

Shares of Rockwell Automation stock traded up $3.40 during trading on Friday, reaching $231.51. The company's stock had a trading volume of 1,447,309 shares, compared to its average volume of 868,941. The business's fifty day moving average price is $264.46 and its 200-day moving average price is $275.53. Rockwell Automation, Inc. has a one year low of $215.00 and a one year high of $308.70. The firm has a market cap of $26.18 billion, a price-to-earnings ratio of 28.83, a price-to-earnings-growth ratio of 3.53 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.08.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings data 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 research analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $1.31 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $5.24 annualized dividend and a yield of 2.26%. Rockwell Automation's dividend payout ratio (DPR) is 65.26%.

Insider Activity at Rockwell Automation

In other news, SVP Matheus De A. G. Viera Bulho sold 293 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $257.68, for a total transaction of $75,500.24. Following the sale, the senior vice president now owns 1,922 shares in the company, valued at approximately $495,260.96. This represents a 13.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Scott Genereux sold 500 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $290.14, for a total transaction of $145,070.00. Following the completion of the transaction, the vice president now owns 1,905 shares of the company's stock, valued at $552,716.70. This trade represents a 20.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,750 shares of company stock worth $1,075,923. 0.68% of the stock is owned by corporate insiders.

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.