Kovitz Investment Group Partners LLC Grows Position in Rockwell Automation, Inc. (NYSE:ROK)

Kovitz Investment Group Partners LLC grew its position in Rockwell Automation, Inc. (NYSE:ROK) by 191.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,824 shares of the industrial products company’s stock after acquiring an additional 19,597 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Rockwell Automation were worth $8,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. West Oak Capital LLC increased its position in Rockwell Automation by 455.6% in the fourth quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 82 shares during the last quarter. Bank of Jackson Hole Trust purchased a new position in shares of Rockwell Automation in the 4th quarter worth $34,000. SBI Securities Co. Ltd. bought a new stake in shares of Rockwell Automation in the 4th quarter worth about $35,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Rockwell Automation during the 4th quarter valued at about $38,000. Finally, Knuff & Co LLC lifted its holdings 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 valued at $40,000 after acquiring an additional 41 shares during the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Oppenheimer boosted their price objective on Rockwell Automation from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Morgan Stanley increased their price target on Rockwell Automation from $335.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Citigroup lowered their price target on Rockwell Automation from $350.00 to $283.00 and set a “buy” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. reduced their target price on shares of Rockwell Automation from $248.00 to $201.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Stephens raised shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $275.00 to $350.00 in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $297.11.

Rockwell Automation Price Performance

ROK opened at $248.25 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. The business’s fifty day simple moving average is $257.14 and its 200-day simple moving average is $274.40. The company has a market capitalization of $28.07 billion, a price-to-earnings ratio of 30.92, a PEG ratio of 3.53 and a beta of 1.39. Rockwell Automation, Inc. has a 12-month low of $215.00 and a 12-month high of $308.70.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share (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%. On average, equities research analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors 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 yield of 2.11%. The ex-dividend date of this dividend is Monday, May 19th. Rockwell Automation’s dividend payout ratio (DPR) is 65.26%.

Insiders Place Their Bets

In other Rockwell Automation news, VP Isaac Woods sold 876 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $284.03, for a total value of $248,810.28. Following the completion of the sale, the vice president now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Matheus De A. G. Viera Bulho sold 293 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $257.68, for a total value of $75,500.24. Following the sale, the senior vice president now owns 1,922 shares in the company, valued at $495,260.96. The trade was a 13.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,750 shares of company stock worth $1,075,923 over the last 90 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.