Drystone LLC Purchases 4,975 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Drystone LLC raised its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 24.1% in the first quarter, Holdings Channel.com reports. The fund owned 25,647 shares of the industrial products company’s stock after purchasing an additional 4,975 shares during the period. Rockwell Automation makes up approximately 6.6% of Drystone LLC’s investment portfolio, making the stock its 6th biggest position. Drystone LLC’s holdings in Rockwell Automation were worth $6,627,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Citizens National Bank Trust Department acquired a new stake in shares of Rockwell Automation during the first quarter valued at about $26,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Rockwell Automation in the first quarter valued at approximately $31,000. Cooksen Wealth LLC acquired a new position in shares of Rockwell Automation in the first quarter valued at approximately $34,000. Parvin Asset Management LLC acquired a new position in shares of Rockwell Automation in the fourth quarter valued at approximately $36,000. Finally, Flagship Wealth Advisors LLC acquired a new position in shares of Rockwell Automation in the fourth quarter valued at approximately $38,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Automation Stock Down 0.5%

Shares of NYSE:ROK opened at $343.14 on Friday. The company has a market cap of $38.68 billion, a price-to-earnings ratio of 43.22, a PEG ratio of 3.86 and a beta of 1.38. The firm’s 50-day simple moving average is $317.25 and its 200-day simple moving average is $285.11. The company has a quick ratio of 0.72, a current ratio of 1.05 and a debt-to-equity ratio of 0.71. Rockwell Automation, Inc. has a fifty-two week low of $215.00 and a fifty-two week high of $348.43.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.36. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. The firm’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.50 earnings per share. As a group, equities research analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be issued a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation’s dividend payout ratio is currently 65.99%.

Wall Street Analysts Forecast Growth

ROK has been the subject of a number of research reports. Citigroup lifted their price objective on shares of Rockwell Automation from $327.00 to $371.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Oppenheimer lifted their price target on shares of Rockwell Automation from $258.00 to $304.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Barclays lifted their price target on shares of Rockwell Automation from $350.00 to $370.00 and gave the stock an “overweight” rating in a research note on Wednesday. CICC Research initiated coverage on shares of Rockwell Automation in a research note on Monday, July 7th. They issued an “outperform” rating and a $381.00 price target for the company. Finally, KeyCorp reiterated an “overweight” rating and issued a $360.00 price target (up previously from $345.00) on shares of Rockwell Automation in a research note on Friday, June 13th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $332.00.

Insider Activity

In other Rockwell Automation news, SVP Christopher Nardecchia sold 551 shares of Rockwell Automation stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $326.31, for a total transaction of $179,796.81. Following the completion of the transaction, the senior vice president owned 12,711 shares in the company, valued at approximately $4,147,726.41. The trade was a 4.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Matheus De A. G. Viera Bulho sold 526 shares of Rockwell Automation stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $325.35, for a total transaction of $171,134.10. Following the transaction, the senior vice president owned 983 shares of the company’s stock, valued at approximately $319,819.05. The trade was a 34.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,388 shares of company stock valued at $2,307,487 in the last quarter. Insiders own 0.68% of the company’s stock.

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.