1832 Asset Management L.P. Takes Position in Rockwell Automation, Inc. (NYSE:ROK)

1832 Asset Management L.P. bought a new stake in shares of Rockwell Automation, Inc. (NYSE:ROK) in the first quarter, Holdings Channel reports. The institutional investor bought 11,267 shares of the industrial products company’s stock, valued at approximately $3,282,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Rockwell Automation by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 14,048,986 shares of the industrial products company’s stock valued at $4,092,891,000 after acquiring an additional 438,356 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Rockwell Automation by 6.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 955,574 shares of the industrial products company’s stock valued at $278,387,000 after buying an additional 54,948 shares during the period. Champlain Investment Partners LLC raised its holdings in Rockwell Automation by 82.4% during the 1st quarter. Champlain Investment Partners LLC now owns 859,717 shares of the industrial products company’s stock valued at $250,461,000 after buying an additional 388,400 shares during the period. Dimensional Fund Advisors LP raised its holdings in Rockwell Automation by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 678,442 shares of the industrial products company’s stock valued at $210,644,000 after buying an additional 19,656 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Rockwell Automation by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 645,485 shares of the industrial products company’s stock valued at $200,410,000 after buying an additional 35,070 shares during the period. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Stock Up 2.2 %

ROK stock traded up $6.04 during trading on Friday, reaching $277.04. 689,228 shares of the company traded hands, compared to its average volume of 873,731. Rockwell Automation, Inc. has a 12 month low of $249.00 and a 12 month high of $339.65. The business has a 50 day simple moving average of $265.75 and a 200 day simple moving average of $276.82. The company has a market capitalization of $31.58 billion, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 4.82 and a beta of 1.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.11.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.35. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the company earned $3.01 earnings per share. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, equities research analysts anticipate that Rockwell Automation, Inc. will post 10.07 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 12th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Monday, August 12th. Rockwell Automation’s payout ratio is currently 48.88%.

Analysts Set New Price Targets

Several analysts recently weighed in on ROK shares. Mizuho decreased their price target on Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Robert W. Baird reduced their target price on Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Citigroup reduced their target price on Rockwell Automation from $322.00 to $316.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Barclays reduced their target price on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Finally, Loop Capital reduced their target price on Rockwell Automation from $300.00 to $290.00 and set a “hold” rating on the stock in a research note on Tuesday, May 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Rockwell Automation currently has a consensus rating of “Hold” and an average price target of $300.71.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, SVP Tessa M. Myers sold 248 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $256.37, for a total value of $63,579.76. Following the completion of the sale, the senior vice president now owns 4,246 shares of the company’s stock, valued at $1,088,547.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Rockwell Automation news, SVP Tessa M. Myers sold 248 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $256.37, for a total value of $63,579.76. Following the completion of the sale, the senior vice president now owns 4,246 shares of the company’s stock, valued at $1,088,547.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP John M. Miller sold 467 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $273.27, for a total value of $127,617.09. Following the completion of the sale, the vice president now directly owns 4,800 shares of the company’s stock, valued at approximately $1,311,696. The disclosure for this sale can be found here. Insiders have sold a total of 2,199 shares of company stock valued at $572,750 over the last quarter. 0.68% of the stock is owned by corporate insiders.

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.