Azimuth Capital Investment Management LLC Reduces Position in Rockwell Automation, Inc. (NYSE:ROK)

Azimuth Capital Investment Management LLC cut its position in Rockwell Automation, Inc. (NYSE:ROK) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,825 shares of the industrial products company’s stock after selling 345 shares during the period. Azimuth Capital Investment Management LLC’s holdings in Rockwell Automation were worth $6,237,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Rockwell Automation in the 4th quarter valued at $284,177,000. Wellington Management Group LLP boosted its holdings in shares of Rockwell Automation by 85,513.1% in the 4th quarter. Wellington Management Group LLP now owns 675,487 shares of the industrial products company’s stock valued at $193,047,000 after buying an additional 674,698 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Rockwell Automation by 102.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,287,731 shares of the industrial products company’s stock valued at $368,021,000 after buying an additional 651,116 shares in the last quarter. Amundi boosted its holdings in shares of Rockwell Automation by 26.2% in the 4th quarter. Amundi now owns 2,073,594 shares of the industrial products company’s stock valued at $580,095,000 after buying an additional 430,498 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Rockwell Automation in the 4th quarter valued at $56,887,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, SVP Tessa M. Myers sold 1,231 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $285.43, for a total transaction of $351,364.33. Following the completion of the transaction, the senior vice president now directly owns 3,650 shares in the company, valued at approximately $1,041,819.50. This trade represents a 25.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Terry L. Riesterer sold 850 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $300.21, for a total transaction of $255,178.50. Following the transaction, the vice president now owns 1,633 shares of the company’s stock, valued at $490,242.93. This trade represents a 34.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,645 shares of company stock worth $1,321,798. 0.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ROK has been the subject of several research analyst reports. Oppenheimer upped 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. Barclays lowered their target price on shares of Rockwell Automation from $285.00 to $280.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Loop Capital increased their price target on shares of Rockwell Automation from $260.00 to $280.00 and gave the stock a “hold” rating in a research note on Tuesday, February 25th. Morgan Stanley increased their price target on shares of Rockwell Automation from $335.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and increased their price target for the stock from $290.00 to $350.00 in a research note on Thursday, December 12th. Three investment analysts have rated the stock with a sell rating, seven 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 a consensus price target of $301.68.

Rockwell Automation Stock Performance

Shares of ROK opened at $242.26 on Thursday. The company has a 50-day simple moving average of $269.77 and a 200-day simple moving average of $277.06. 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 capitalization of $27.39 billion, a PE ratio of 30.17, a P/E/G ratio of 3.53 and a beta of 1.39. Rockwell Automation, Inc. has a 52-week low of $215.00 and a 52-week high of $308.70.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts predict 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 Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a dividend of $1.31 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $5.24 annualized dividend and a yield of 2.16%. Rockwell Automation’s dividend payout ratio (DPR) is currently 65.26%.

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.