Bank of Montreal Can Lowers Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

Bank of Montreal Can reduced its position in Rockwell Automation, Inc. (NYSE:ROK) by 17.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 141,916 shares of the industrial products company’s stock after selling 30,911 shares during the quarter. Bank of Montreal Can’s holdings in Rockwell Automation were worth $40,558,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Rockwell Automation by 0.9% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,775 shares of the industrial products company’s stock worth $1,079,000 after purchasing an additional 33 shares in the last quarter. Whittier Trust Co. increased its stake in Rockwell Automation by 1.9% during the 4th quarter. Whittier Trust Co. now owns 1,896 shares of the industrial products company’s stock worth $542,000 after buying an additional 35 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in Rockwell Automation by 0.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company’s stock worth $1,199,000 after buying an additional 38 shares in the last quarter. Lake Street Advisors Group LLC boosted its position in Rockwell Automation by 3.0% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,351 shares of the industrial products company’s stock valued at $386,000 after buying an additional 39 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. grew its stake in shares of Rockwell Automation by 3.8% during the fourth quarter. Fortitude Advisory Group L.L.C. now owns 1,082 shares of the industrial products company’s stock valued at $309,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

ROK stock opened at $230.22 on Friday. The firm has a 50 day moving average of $268.95 and a two-hundred day moving average of $276.84. Rockwell Automation, Inc. has a 12 month low of $215.00 and a 12 month high of $308.70. The company has a market capitalization of $26.03 billion, a price-to-earnings ratio of 28.67, a P/E/G ratio of 3.53 and a beta of 1.39. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.72.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Monday, February 10th. The industrial products company reported $1.83 EPS for the quarter, topping 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%. As a group, equities analysts anticipate that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Monday, May 19th. Rockwell Automation’s payout ratio is 65.26%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ROK shares. Loop Capital upped their target price on Rockwell Automation from $260.00 to $280.00 and gave the company a “hold” rating in a research report on Tuesday, February 25th. Barclays cut their price target on shares of Rockwell Automation from $280.00 to $260.00 and set an “equal weight” rating on the stock in a report on Thursday. Morgan Stanley raised their price objective on shares of Rockwell Automation from $335.00 to $345.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Wells Fargo & Company upped their target price on shares of Rockwell Automation from $315.00 to $337.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Finally, Citigroup lifted their price target on Rockwell Automation from $345.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $300.63.

Insider Buying and Selling

In other news, VP Isaac Woods sold 876 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $284.03, for a total value of $248,810.28. Following the sale, the vice president now owns 1,057 shares in the company, valued at approximately $300,219.71. This trade represents a 45.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Tessa M. Myers sold 1,231 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $285.43, for a total transaction of $351,364.33. Following the transaction, the senior vice president now owns 3,650 shares of the company’s stock, valued at approximately $1,041,819.50. The trade was a 25.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,750 shares of company stock valued at $1,075,923. Company insiders own 0.68% of the company’s stock.

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.