Royal Bank of Canada decreased its position in Rockwell Automation, Inc. (NYSE:ROK – Free Report) by 35.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 204,242 shares of the industrial products company’s stock after selling 110,473 shares during the period. Royal Bank of Canada owned about 0.18% of Rockwell Automation worth $58,386,000 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. Markel Corp lifted its position in Rockwell Automation by 1.3% in the 1st quarter. Markel Corp now owns 152,900 shares of the industrial products company’s stock worth $42,816,000 after buying an additional 2,000 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Rockwell Automation by 10.3% during the 1st quarter. Sei Investments Co. now owns 57,480 shares of the industrial products company’s stock valued at $16,221,000 after purchasing an additional 5,386 shares in the last quarter. Prudential PLC bought a new position in shares of Rockwell Automation during the 1st quarter valued at $642,000. Sequoia Financial Advisors LLC raised its holdings in shares of Rockwell Automation by 3.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,649 shares of the industrial products company’s stock valued at $1,021,000 after purchasing an additional 107 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Rockwell Automation by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 11,472,877 shares of the industrial products company’s stock valued at $3,212,750,000 after buying an additional 106,641 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.
Rockwell Automation Trading Down 3.3 %
Shares of ROK stock opened at $284.79 on Tuesday. Rockwell Automation, Inc. has a 12-month low of $252.11 and a 12-month high of $348.52. The company has a market capitalization of $32.63 billion, a P/E ratio of 27.10, a P/E/G ratio of 2.73 and a beta of 1.43. The firm has a 50-day moving average price of $289.20 and a 200 day moving average price of $286.54. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 0.76.
Rockwell Automation (NYSE:ROK – Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by ($0.58). Rockwell Automation had a net margin of 13.35% and a return on equity of 37.22%. 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 earnings per share. Research analysts forecast that Rockwell Automation, Inc. will post 12.36 earnings per share for the current fiscal year.
Rockwell Automation Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Tuesday, February 20th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.76%. The ex-dividend date was Friday, February 16th. Rockwell Automation’s dividend payout ratio is currently 47.57%.
Analysts Set New Price Targets
A number of research analysts recently issued reports on ROK shares. Citigroup lowered their target price on shares of Rockwell Automation from $351.00 to $330.00 and set a “buy” rating on the stock in a research note on Thursday, February 1st. Wells Fargo & Company lowered their target price on shares of Rockwell Automation from $357.00 to $320.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Mizuho lowered their target price on shares of Rockwell Automation from $300.00 to $265.00 and set a “neutral” rating on the stock in a research note on Thursday, February 1st. Berenberg Bank reiterated a “hold” rating and issued a $290.00 target price (down from $330.00) on shares of Rockwell Automation in a research note on Wednesday, March 6th. Finally, UBS Group upgraded shares of Rockwell Automation from a “neutral” rating to a “buy” rating and raised their target price for the company from $305.00 to $360.00 in a research note on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $306.64.
Check Out Our Latest Stock Report on Rockwell Automation
Insiders Place Their Bets
In other Rockwell Automation news, VP Brian A. Shepherd sold 637 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $262.87, for a total value of $167,448.19. Following the completion of the transaction, the vice president now directly owns 5,088 shares of the company’s stock, valued at $1,337,482.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Rebecca W. House sold 13,900 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $283.02, for a total transaction of $3,933,978.00. Following the completion of the sale, the senior vice president now directly owns 8,482 shares of the company’s stock, valued at $2,400,575.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brian A. Shepherd sold 637 shares of the business’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 transaction of $167,448.19. Following the sale, the vice president now directly owns 5,088 shares of the company’s stock, valued at $1,337,482.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,877 shares of company stock valued at $5,058,772. 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.
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