Bank of New York Mellon Corp Sells 40,835 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Bank of New York Mellon Corp cut its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 774,381 shares of the industrial products company’s stock after selling 40,835 shares during the period. Bank of New York Mellon Corp’s holdings in Rockwell Automation were worth $221,310,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Union Bancaire Privee UBP SA purchased a new position in Rockwell Automation during the 4th quarter valued at $3,351,000. Summit Asset Management LLC boosted its stake in shares of Rockwell Automation by 17.3% during the 4th quarter. Summit Asset Management LLC now owns 4,544 shares of the industrial products company’s stock valued at $1,299,000 after purchasing an additional 670 shares in the last quarter. Cabot Wealth Management Inc. increased its position in shares of Rockwell Automation by 4.4% during the fourth quarter. Cabot Wealth Management Inc. now owns 47,831 shares of the industrial products company’s stock valued at $13,670,000 after buying an additional 2,022 shares during the period. MONECO Advisors LLC raised its stake in Rockwell Automation by 3.4% in the fourth quarter. MONECO Advisors LLC now owns 2,603 shares of the industrial products company’s stock worth $744,000 after buying an additional 86 shares in the last quarter. Finally, Howard Capital Management Inc. purchased a new stake in Rockwell Automation in the fourth quarter worth about $212,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Analysts Set New Price Targets

ROK has been the topic of a number of research analyst reports. Stephens upgraded Rockwell Automation from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $275.00 to $350.00 in a report on Thursday, January 16th. Wells Fargo & Company increased their price objective on Rockwell Automation from $315.00 to $337.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. BNP Paribas cut shares of Rockwell Automation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 11th. KeyCorp upgraded shares of Rockwell Automation from a “sector weight” rating to an “overweight” rating and set a $345.00 price target for the company in a research note on Monday, December 9th. Finally, Robert W. Baird lifted their price target on shares of Rockwell Automation from $305.00 to $315.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $307.55.

Rockwell Automation Trading Down 0.9 %

Rockwell Automation stock opened at $284.47 on Friday. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $308.70. The company has a market cap of $32.17 billion, a P/E ratio of 35.43, a P/E/G ratio of 3.53 and a beta of 1.35. 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 business has a 50-day simple moving average of $286.10 and a two-hundred day simple moving average of $278.11.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.22. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. Analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Tuesday, February 18th. Rockwell Automation’s dividend payout ratio is presently 65.26%.

Insiders Place Their Bets

In related news, CEO Blake D. Moret sold 1,741 shares of Rockwell Automation stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $296.67, for a total transaction of $516,502.47. Following the transaction, the chief executive officer now owns 80,309 shares in the company, valued at approximately $23,825,271.03. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott Genereux sold 278 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $302.04, for a total value of $83,967.12. Following the completion of the transaction, the vice president now owns 3,184 shares in the company, valued at $961,695.36. The trade was a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,540 shares of company stock worth $1,935,134 over the last quarter. 0.68% of the stock is currently 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.