Synovus Financial Corp Has $4.04 Million Holdings in Rockwell Automation, Inc. $ROK

Synovus Financial Corp lessened its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 2.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,628 shares of the industrial products company’s stock after selling 452 shares during the period. Synovus Financial Corp’s holdings in Rockwell Automation were worth $4,038,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. raised its stake in Rockwell Automation by 11.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,819,379 shares of the industrial products company’s stock worth $470,091,000 after buying an additional 191,370 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Rockwell Automation by 0.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,579,956 shares of the industrial products company’s stock worth $408,229,000 after buying an additional 9,920 shares during the last quarter. Invesco Ltd. raised its stake in Rockwell Automation by 2.2% during the first quarter. Invesco Ltd. now owns 1,448,160 shares of the industrial products company’s stock worth $374,176,000 after buying an additional 30,837 shares during the last quarter. Northern Trust Corp raised its stake in Rockwell Automation by 0.4% during the first quarter. Northern Trust Corp now owns 1,396,303 shares of the industrial products company’s stock worth $360,777,000 after buying an additional 4,972 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Rockwell Automation by 2.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,158,161 shares of the industrial products company’s stock worth $330,991,000 after buying an additional 29,350 shares during the last quarter. Institutional investors own 75.75% of the company’s stock.

Insider Activity at Rockwell Automation

In related news, SVP Matheus De A. G. Viera Bulho sold 526 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $325.35, for a total transaction of $171,134.10. Following the sale, the senior vice president directly owned 983 shares in the company, valued at approximately $319,819.05. This represents a 34.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Tessa M. Myers sold 363 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $326.32, for a total transaction of $118,454.16. Following the sale, the senior vice president owned 4,063 shares in the company, valued at $1,325,838.16. The trade was a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,818 shares of company stock worth $1,944,708 in the last ninety days. Insiders own 0.68% of the company’s stock.

Rockwell Automation Price Performance

Shares of NYSE ROK opened at $350.7550 on Monday. Rockwell Automation, Inc. has a fifty-two week low of $215.00 and a fifty-two week high of $360.92. The stock has a market cap of $39.44 billion, a price-to-earnings ratio of 41.17, a PEG ratio of 3.61 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 1.06. The firm’s 50-day simple moving average is $341.12 and its 200 day simple moving average is $298.85.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.15. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter last year, the firm earned $2.71 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, research analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be paid a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, August 18th. Rockwell Automation’s dividend payout ratio is presently 61.50%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Barclays lifted their target price on shares of Rockwell Automation from $357.00 to $370.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Wall Street Zen raised shares of Rockwell Automation from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. 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. JPMorgan Chase & Co. lifted their price target on shares of Rockwell Automation from $271.00 to $299.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Finally, Stephens reaffirmed an “overweight” rating and issued a $375.00 price target (up from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $340.16.

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.