Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its holdings in Rockwell Automation, Inc. (NYSE:ROKFree Report) by 0.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 31,413 shares of the industrial products company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in Rockwell Automation were worth $9,753,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Drive Wealth Management LLC acquired a new stake in shares of Rockwell Automation in the 4th quarter valued at approximately $217,000. Monte Financial Group LLC raised its holdings in Rockwell Automation by 23.3% during the fourth quarter. Monte Financial Group LLC now owns 4,172 shares of the industrial products company’s stock worth $1,295,000 after purchasing an additional 789 shares during the last quarter. Prio Wealth Limited Partnership acquired a new position in Rockwell Automation during the fourth quarter worth $212,000. Tevis Investment Management acquired a new position in Rockwell Automation during the fourth quarter worth $216,000. Finally, L. Roy Papp & Associates LLP raised its holdings in Rockwell Automation by 11.6% during the fourth quarter. L. Roy Papp & Associates LLP now owns 15,772 shares of the industrial products company’s stock worth $4,897,000 after purchasing an additional 1,644 shares during the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Blake D. Moret purchased 3,500 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average price of $283.64 per share, with a total value of $992,740.00. Following the acquisition, the chief executive officer now owns 77,215 shares in the company, valued at approximately $21,901,262.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Brian A. Shepherd sold 637 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $262.87, for a total value of $167,448.19. Following the sale, the vice president now directly owns 5,088 shares in the company, valued at approximately $1,337,482.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Blake D. Moret bought 3,500 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average price of $283.64 per share, for a total transaction of $992,740.00. Following the completion of the transaction, the chief executive officer now owns 77,215 shares in the company, valued at $21,901,262.60. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 17,877 shares of company stock valued at $5,058,772. Insiders own 0.68% of the company’s stock.

Rockwell Automation Trading Down 1.1 %

NYSE:ROK opened at $280.20 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average is $283.58 and its two-hundred day moving average is $284.53. Rockwell Automation, Inc. has a 52 week low of $252.11 and a 52 week high of $348.52. The company has a market cap of $32.11 billion, a PE ratio of 26.66, a P/E/G ratio of 2.65 and a beta of 1.43.

Rockwell Automation (NYSE:ROKGet Free Report) last released its earnings results on Wednesday, January 31st. The industrial products company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.58). Rockwell Automation had a return on equity of 37.22% and a net margin of 13.35%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the prior year, the business earned $2.46 EPS. On average, analysts predict that Rockwell Automation, Inc. will post 12.29 EPS for the current year.

Rockwell Automation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Tuesday, February 20th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Friday, February 16th. Rockwell Automation’s dividend payout ratio (DPR) is 47.57%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ROK. Wells Fargo & Company reduced their price objective on Rockwell Automation from $357.00 to $320.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Mizuho cut their price target on Rockwell Automation from $300.00 to $265.00 and set a “neutral” rating for the company in a report on Thursday, February 1st. Berenberg Bank reaffirmed a “hold” rating and issued a $290.00 price objective (down previously from $330.00) on shares of Rockwell Automation in a research report on Wednesday, March 6th. UBS Group raised Rockwell Automation from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $305.00 to $360.00 in a research report on Wednesday, January 3rd. Finally, Barclays lowered their price objective on Rockwell Automation from $269.00 to $265.00 and set an “underweight” rating for the company in a research report on Tuesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $308.00.

Get Our Latest Analysis on Rockwell Automation

Rockwell Automation Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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