Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 20,069 shares of the industrial products company’s stock after selling 193 shares during the period. M&T Bank Corp’s holdings in Rockwell Automation were worth $5,736,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of ROK. Accredited Investors Inc. boosted its holdings in Rockwell Automation by 162,058.5% in the 3rd quarter. Accredited Investors Inc. now owns 1,185,379 shares of the industrial products company’s stock valued at $318,227,000 after purchasing an additional 1,184,648 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Rockwell Automation by 33.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,556,292 shares of the industrial products company’s stock valued at $417,802,000 after purchasing an additional 390,784 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Rockwell Automation in the 4th quarter valued at about $56,887,000. DAVENPORT & Co LLC boosted its holdings in Rockwell Automation by 27.9% in the 4th quarter. DAVENPORT & Co LLC now owns 408,336 shares of the industrial products company’s stock valued at $116,682,000 after purchasing an additional 88,962 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in Rockwell Automation by 229.5% in the 4th quarter. Truist Financial Corp now owns 102,347 shares of the industrial products company’s stock valued at $29,250,000 after purchasing an additional 71,288 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Oppenheimer boosted their target price on shares of Rockwell Automation from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Jefferies Financial Group upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and upped their price objective for the stock from $290.00 to $350.00 in a report on Thursday, December 12th. UBS Group assumed coverage on shares of Rockwell Automation in a report on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 price objective on the stock. Loop Capital upped their price objective on shares of Rockwell Automation from $260.00 to $280.00 and gave the stock a “hold” rating in a report on Tuesday, February 25th. Finally, Robert W. Baird upped their price objective on shares of Rockwell Automation from $305.00 to $315.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $308.47.

Rockwell Automation Price Performance

Shares of ROK opened at $276.55 on Friday. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $308.70. The firm’s 50 day moving average price is $284.25 and its 200 day moving average price is $278.73. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.72. The company has a market cap of $31.27 billion, a P/E ratio of 34.44, a PEG ratio of 3.53 and a beta of 1.39.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Monday, February 10th. The industrial products company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.22. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. On average, research analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Tuesday, February 18th. Rockwell Automation’s dividend payout ratio (DPR) is presently 65.26%.

Insider Buying and Selling

In other news, CEO Blake D. Moret sold 1,121 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $302.01, for a total transaction of $338,553.21. Following the completion of the sale, the chief executive officer now owns 81,754 shares in the company, valued at approximately $24,690,525.54. The trade was a 1.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott Genereux sold 500 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $290.14, for a total transaction of $145,070.00. Following the sale, the vice president now owns 1,905 shares of the company’s stock, valued at $552,716.70. This represents a 20.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,823 shares of company stock worth $1,690,564 over the last 90 days. 0.68% of the stock is owned by insiders.

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.