NewEdge Wealth LLC Reduces Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

NewEdge Wealth LLC reduced its stake in Rockwell Automation, Inc. (NYSE:ROK) by 13.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,201 shares of the industrial products company’s stock after selling 345 shares during the period. NewEdge Wealth LLC’s holdings in Rockwell Automation were worth $683,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Imprint Wealth LLC boosted its stake in Rockwell Automation by 32,845.0% in the 2nd quarter. Imprint Wealth LLC now owns 1,254,546 shares of the industrial products company’s stock worth $125,455,000 after purchasing an additional 1,250,738 shares during the period. Moneta Group Investment Advisors LLC boosted its position in shares of Rockwell Automation by 87,404.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,236,433 shares of the industrial products company’s stock valued at $318,468,000 after acquiring an additional 1,235,020 shares during the period. Norges Bank bought a new stake in Rockwell Automation during the 4th quarter worth approximately $215,125,000. Morgan Stanley lifted its stake in Rockwell Automation by 20.0% in the 4th quarter. Morgan Stanley now owns 2,741,019 shares of the industrial products company’s stock worth $706,004,000 after purchasing an additional 457,383 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Rockwell Automation by 13.8% in the 1st quarter. JPMorgan Chase & Co. now owns 2,638,992 shares of the industrial products company’s stock worth $774,411,000 after purchasing an additional 320,524 shares in the last quarter. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Berenberg Bank restated a “hold” rating and set a $290.00 price target (down from $330.00) on shares of Rockwell Automation in a research report on Wednesday, March 6th. UBS Group upgraded Rockwell Automation from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $305.00 to $360.00 in a research report on Wednesday, January 3rd. Wells Fargo & Company lowered their price target on Rockwell Automation from $357.00 to $320.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. JPMorgan Chase & Co. reissued an “underweight” rating and set a $254.00 price objective on shares of Rockwell Automation in a report on Thursday, March 21st. Finally, Barclays lowered their target price on shares of Rockwell Automation from $269.00 to $265.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $310.08.

Rockwell Automation Trading Down 1.6 %

ROK stock opened at $281.42 on Wednesday. Rockwell Automation, Inc. has a one year low of $252.11 and a one year high of $348.52. The company has a market capitalization of $32.25 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 2.87 and a beta of 1.43. The company’s 50 day moving average price is $283.05 and its two-hundred day moving average price is $284.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.25.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.58). The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Rockwell Automation had a return on equity of 37.22% and a net margin of 13.35%. During the same quarter in the previous year, the business earned $2.46 EPS. As a group, analysts predict that Rockwell Automation, Inc. will post 12.03 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 13th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Friday, May 10th. Rockwell Automation’s dividend payout ratio (DPR) is presently 47.57%.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, VP Brian A. Shepherd sold 637 shares of Rockwell Automation stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $262.87, for a total value of $167,448.19. Following the transaction, the vice president now directly owns 5,088 shares of the company’s stock, valued at approximately $1,337,482.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Brian A. Shepherd sold 637 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $262.87, for a total transaction of $167,448.19. Following the completion of the sale, the vice president now directly owns 5,088 shares in the company, valued at $1,337,482.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Blake D. Moret acquired 3,500 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was acquired at an average price of $283.64 per share, for a total transaction of $992,740.00. Following the completion of the transaction, the chief executive officer now owns 77,215 shares in the company, valued at approximately $21,901,262.60. The disclosure for this purchase can be found here. Insiders sold 17,877 shares of company stock worth $5,058,772 in the last ninety days. 0.68% of the stock is owned by company insiders.

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.