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  • Royal Bank of Canada Has $58.39 Million Stake in Rockwell Automation, Inc. (NYSE:ROK)

    Royal Bank of Canada Has $58.39 Million Stake in Rockwell Automation, Inc. (NYSE:ROK)

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    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

    (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.

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

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  • ROK Stock Price | Rockwell Automation Inc. Stock Quote (U.S.: NYSE) | MarketWatch

    ROK Stock Price | Rockwell Automation Inc. Stock Quote (U.S.: NYSE) | MarketWatch

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    Rockwell Automation Inc.

    Rockwell Automation, Inc. engages in the provision of industrial automation and information services. It operates through the following segments: Intelligent Devices, Software and Control, and Lifecycle Services. The Intelligent Devices segment combines a portfolio of smart products that create the foundation of an agile, resilient, and sustainable production system. The Software and Control segment contains a portfolio of production automation and production operations platforms, including hardware and software. The Lifecycle Services segment offers a portfolio of professionally delivered services and value-added solutions. The company was founded by Lynde Bradley and Stanton Allen in 1903 and is headquartered in Milwaukee, WI.

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    Tomi Kilgore

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  • These 20 growth stocks are worth considering on a pullback, says Citi

    These 20 growth stocks are worth considering on a pullback, says Citi

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    Citi has released a list of 20 large-cap growth stocks that it says present opportunities in the event of a pullback.

    “Our call since early summer has been to hold Growth and look to buy on pullbacks,” Citi analyst Scott Chronert said in a note released Monday, adding that Citi has had a tactical preference for cyclicals. “However, on the heels of the strong Cyclicals surge during June and July, and our upwardly revised S&P 500 target of 4600, the messaging has been to buy on pullbacks more broadly,” he wrote.

    Citi also notes that the Russell 1000 Growth Index
    RLG
    has sold off more than 6% from its mid-July high, although two-thirds of the stocks in the index are down 10% or more, with one-third down more than 20%. “This sets up for interesting intermediate to long-term stock selection opportunities,” Chronert said.

    Related: Preorders for the iPhone 15 have begun, and here’s a sign they’ve been ‘solid’

    The analyst acknowledged that there is still a risk of economic softening ahead, if not a recession. “Yet, the argument that Growth stocks can show fundamental resilience during periods of broader economic weakening is a theme that we have considered for several years now,” he said.

    Set against this backdrop, the analyst firm has compiled a tech-heavy list of 20 stocks that have a buy rating from Citi, have at least 75% of market cap assigned to growth, according to Russell, and have experienced a decline of 10% or more from year-to-date highs since March 31. Other common characteristics of the stocks include consensus estimates of free cash flow per share above March 31 levels and free cash flow per share within or above market-implied five-year-forward estimates.

    Tech heavyweights Apple Inc.
    AAPL,
    +0.74%
    and NVIDIA Corp.
    NVDA,
    +1.47%
    are on the list, along with Pinterest Inc.
    PINS,
    -2.47%    ,
    Lam Research Corp.
    LRCX,
    +0.24%    ,
    Teradata Corp.
    TDC,
    +0.36%    ,
    Datadog Inc.
    DDOG,
    +0.09%    ,
    MongoDB Inc.
    MDB,
    -0.73%    ,
    HubSpot Inc.
    HUBS,
    +0.18%
    and KLA Corp.
    KLAC,
    +0.79%    .
    The other stocks cited by Citi are Lockheed Martin Corp.
    LMT,
    -0.18%    ,
    DraftKings Inc.
    DKNG,
    -1.44%    ,
    Las Vegas Sands Corp.
    LVS,
    -0.98%    ,
    Chipotle Mexican Grill Inc.
    CMG,
    -0.85%    ,
    Netflix Inc.
    NFLX,
    +1.31%    ,
    TKO Group Holdings Inc.
    TKO,
    -1.93%    ,
    Rockwell Automation Inc.
    ROK,
    +1.09%
    and Paycom Software Inc.
    PAYC,
    +0.45%    ,
    and healthcare stocks Bruker Corp.
    BRKR,
    +1.04%    ,
    Insulet Corp.
    PODD,
    -0.66%
    and Intuitive Surgical Inc.
    ISRG,
    +1.75%    .

    Related: Will Nvidia stock be like Apple or Cisco in the AI era?

    Shares of Apple, which recently launched its iPhone 15, are down 5.5% in the last three months. Shares of chip maker NVIDIA are up 2.8% over the same period, while Lockheed Martin is down 8.9% and DraftKings is up 8.6%. Las Vegas Sands is down 21.8% and Chipotle is down 8.8%, while Netflix is down 7.8%.

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  • ROK Stock Price | Rockwell Automation Inc. Stock Quote (U.S.: NYSE) | MarketWatch

    ROK Stock Price | Rockwell Automation Inc. Stock Quote (U.S.: NYSE) | MarketWatch

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    Rockwell Automation Inc.

    Rockwell Automation, Inc. engages in the provision of industrial automation and information services. It operates through the following segments: Intelligent Devices, Software and Control, and Lifecycle Services. The Intelligent Devices segment combines a comprehensive portfolio of smart products that create the foundation of an agile, resilient, and sustainable production system. The Software and Control segment contains a comprehensive portfolio of production automation and production operations platforms, including hardware and software. The Lifecycle Services segment contains a complete portfolio of professionally delivered services and value-added solutions. The company was founded by Lynde Bradley and Stanton Allen in 1903 and is headquartered in Milwaukee, WI.

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