Korea Investment CORP Raises Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Korea Investment CORP raised its stake in Rockwell Automation, Inc. (NYSE:ROK) by 66.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 77,046 shares of the industrial products company’s stock after buying an additional 30,890 shares during the quarter. Korea Investment CORP’s holdings in Rockwell Automation were worth $22,019,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ROK. West Oak Capital LLC grew its position in shares of Rockwell Automation by 455.6% in the 4th quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after buying an additional 82 shares during the last quarter. Bank of Jackson Hole Trust purchased a new position in Rockwell Automation in the fourth quarter worth $34,000. SBI Securities Co. Ltd. acquired a new position in shares of Rockwell Automation during the fourth quarter worth $35,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Rockwell Automation during the 4th quarter valued at $38,000. Finally, Knuff & Co LLC boosted its position in shares of Rockwell Automation by 41.0% in the 4th quarter. Knuff & Co LLC now owns 141 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 41 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Stock Down 3.7 %

Shares of ROK stock opened at $258.22 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $308.70. The stock has a 50 day moving average of $278.93 and a 200 day moving average of $278.76. The stock has a market cap of $29.20 billion, a P/E ratio of 32.16, a P/E/G ratio of 3.53 and a beta of 1.39.

Rockwell Automation (NYSE:ROK) last posted 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%. As a group, sell-side analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th were paid a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Tuesday, February 18th. Rockwell Automation’s payout ratio is currently 65.26%.

Analysts Set New Price Targets

Several research analysts recently issued reports on ROK shares. Citigroup upped their target price on Rockwell Automation from $345.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Wells Fargo & Company upped their price objective on shares of Rockwell Automation from $315.00 to $337.00 and gave the company an “overweight” 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 target price for the company in a research note on Monday, December 9th. Robert W. Baird upped their price target on shares of Rockwell Automation from $305.00 to $315.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, Morgan Stanley lifted their price objective 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. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $307.42.

Insider Activity

In other Rockwell Automation news, VP Scott Genereux sold 500 shares of the 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 transaction, the vice president now owns 1,905 shares in the company, valued at approximately $552,716.70. This represents a 20.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Tessa M. Myers sold 1,231 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $285.43, for a total value of $351,364.33. Following the completion of the sale, the senior vice president now owns 3,650 shares of the company’s stock, valued at $1,041,819.50. This trade represents a 25.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,352 shares of company stock worth $1,246,298 in the last ninety days. Company insiders own 0.68% of the company’s stock.

About Rockwell Automation

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.