State of Tennessee Department of Treasury Has $8.83 Million Position in Rockwell Automation, Inc. (NYSE:ROK)

State of Tennessee Department of Treasury raised its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 103.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,878 shares of the industrial products company’s stock after purchasing an additional 15,714 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Rockwell Automation were worth $8,825,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. West Oak Capital LLC raised its position in shares of Rockwell Automation by 455.6% in the fourth quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 82 shares during the period. Bank of Jackson Hole Trust bought a new position in Rockwell Automation in the 4th quarter valued at about $34,000. SBI Securities Co. Ltd. acquired a new stake in Rockwell Automation during the fourth quarter worth approximately $35,000. Flagship Wealth Advisors LLC bought a new stake in shares of Rockwell Automation during the fourth quarter worth approximately $38,000. Finally, Knuff & Co LLC grew its position in shares of Rockwell Automation by 41.0% in the fourth quarter. Knuff & Co LLC now owns 141 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 41 shares during the last quarter. 75.75% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Isaac Woods sold 876 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $284.03, for a total value of $248,810.28. Following the completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at $300,219.71. This represents a 45.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Matheus De A. G. Viera Bulho sold 293 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $257.68, for a total value of $75,500.24. Following the completion of the sale, the senior vice president now directly owns 1,922 shares of the company’s stock, valued at approximately $495,260.96. The trade was a 13.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,750 shares of company stock worth $1,075,923 in the last 90 days. Insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

ROK has been the subject of several research reports. Citigroup dropped their price target on Rockwell Automation from $350.00 to $283.00 and set a “buy” rating for the company in a report on Monday, April 14th. Loop Capital boosted their target price on shares of Rockwell Automation from $260.00 to $280.00 and gave the company a “hold” rating in a research report on Tuesday, February 25th. Robert W. Baird lifted their price objective on shares of Rockwell Automation from $305.00 to $315.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. KeyCorp cut their price objective on shares of Rockwell Automation from $345.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, 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 report on Tuesday, April 8th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $297.11.

Rockwell Automation Stock Performance

Rockwell Automation stock opened at $239.84 on Thursday. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.72. The stock has a market cap of $27.12 billion, a PE ratio of 29.87, a P/E/G ratio of 3.53 and a beta of 1.39. Rockwell Automation, Inc. has a 12-month low of $215.00 and a 12-month high of $308.70. The business’s 50-day moving average price is $259.12 and its two-hundred day moving average price is $274.62.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Monday, February 10th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Monday, May 19th. Rockwell Automation’s dividend payout ratio (DPR) is 65.26%.

Rockwell Automation 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.