Wedmont Private Capital Sells 530 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Wedmont Private Capital decreased its stake in Rockwell Automation, Inc. (NYSE:ROK) by 14.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,115 shares of the industrial products company’s stock after selling 530 shares during the period. Wedmont Private Capital’s holdings in Rockwell Automation were worth $883,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ROK. Pathway Financial Advisers LLC bought a new position in Rockwell Automation in the 1st quarter valued at approximately $26,000. Riverview Trust Co bought a new position in shares of Rockwell Automation during the first quarter valued at $28,000. Bfsg LLC bought a new position in shares of Rockwell Automation during the first quarter valued at $29,000. ESL Trust Services LLC bought a new position in shares of Rockwell Automation during the first quarter valued at $29,000. Finally, Security National Bank bought a new position in shares of Rockwell Automation during the fourth quarter valued at $40,000. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Up 2.8 %

NYSE:ROK traded up $7.19 during trading hours on Tuesday, reaching $260.20. The company had a trading volume of 607,236 shares, compared to its average volume of 961,808. The company has a quick ratio of 0.74, a current ratio of 1.11 and a debt-to-equity ratio of 0.69. The firm has a market cap of $29.66 billion, a price-to-earnings ratio of 25.26, a P/E/G ratio of 4.71 and a beta of 1.37. The business’s 50-day simple moving average is $265.23 and its two-hundred day simple moving average is $273.39. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $317.74.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.08 by $0.63. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Rockwell Automation had a net margin of 13.19% and a return on equity of 34.83%. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.01 earnings per share. On average, equities analysts expect that Rockwell Automation, Inc. will post 10.07 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Monday, August 12th. Rockwell Automation’s payout ratio is presently 48.88%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Loop Capital dropped their price target on shares of Rockwell Automation from $300.00 to $290.00 and set a “hold” rating for the company in a research note on Tuesday, May 14th. TD Cowen dropped their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Barclays lowered their target price on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Citigroup lowered their target price on shares of Rockwell Automation from $322.00 to $316.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, Wells Fargo & Company lowered their target price on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Rockwell Automation presently has a consensus rating of “Hold” and a consensus target price of $280.14.

Insider Transactions at Rockwell Automation

In other news, SVP Tessa M. Myers sold 528 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $253.78, for a total transaction of $133,995.84. Following the completion of the sale, the senior vice president now directly owns 3,718 shares of the company’s stock, valued at $943,554.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Rockwell Automation news, SVP Tessa M. Myers sold 528 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $253.78, for a total value of $133,995.84. Following the completion of the sale, the senior vice president now directly owns 3,718 shares of the company’s stock, valued at approximately $943,554.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John M. Miller sold 467 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $273.27, for a total transaction 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 $1,311,696. The disclosure for this sale can be found here. Insiders sold a total of 2,199 shares of company stock valued at $572,750 over the last three months. Corporate insiders own 0.68% of the company’s stock.

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.