Retirement Systems of Alabama Reduces Position in Rockwell Automation, Inc. (NYSE:ROK)

Retirement Systems of Alabama decreased its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,272 shares of the industrial products company’s stock after selling 699 shares during the period. Retirement Systems of Alabama’s holdings in Rockwell Automation were worth $7,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ROK. Intellectus Partners LLC bought a new stake in Rockwell Automation during the fourth quarter valued at about $664,000. Russell Investments Group Ltd. grew its stake in shares of Rockwell Automation by 31.1% during the 4th quarter. Russell Investments Group Ltd. now owns 42,028 shares of the industrial products company’s stock valued at $13,051,000 after acquiring an additional 9,961 shares during the period. Cedar Point Capital Partners LLC purchased a new stake in Rockwell Automation in the 4th quarter worth approximately $460,000. Bank Julius Baer & Co. Ltd Zurich raised its stake in Rockwell Automation by 6.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 346,945 shares of the industrial products company’s stock worth $107,719,000 after acquiring an additional 20,761 shares during the period. Finally, Stevens Capital Management LP purchased a new position in Rockwell Automation during the fourth quarter valued at approximately $773,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Rockwell Automation news, CFO Nicholas C. Gangestad sold 1,989 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $288.17, for a total transaction of $573,170.13. Following the completion of the transaction, the chief financial officer now owns 12,217 shares in the company, valued at $3,520,572.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Nicholas C. Gangestad sold 1,989 shares of Rockwell Automation stock in a transaction on Monday, March 4th. The stock was sold at an average price of $288.17, for a total transaction of $573,170.13. Following the completion of the sale, the chief financial officer now directly owns 12,217 shares in the company, valued at $3,520,572.89. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Scott Genereux sold 500 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $290.00, for a total transaction of $145,000.00. Following the completion of the transaction, the vice president now directly owns 2,383 shares in the company, valued at approximately $691,070. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,240 shares of company stock valued at $4,891,324. Company insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

ROK has been the topic of several recent analyst reports. Berenberg Bank restated a “hold” rating and set a $290.00 price objective (down from $330.00) on shares of Rockwell Automation in a research report on Wednesday, March 6th. Oppenheimer decreased their price target on Rockwell Automation from $324.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, February 1st. Citigroup dropped their price objective on Rockwell Automation from $330.00 to $322.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Wells Fargo & Company decreased their target price on Rockwell Automation from $357.00 to $320.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Finally, Mizuho dropped their price target on Rockwell Automation from $300.00 to $265.00 and set a “neutral” rating for the company in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rockwell Automation presently has a consensus rating of “Hold” and a consensus price target of $310.08.

Rockwell Automation Trading Up 1.5 %

ROK stock opened at $274.05 on Friday. The firm has a fifty day moving average price of $282.21 and a 200 day moving average price of $283.15. Rockwell Automation, Inc. has a fifty-two week low of $252.11 and a fifty-two week high of $348.52. The firm has a market cap of $31.40 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 2.72 and a beta of 1.43. 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 released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.04 EPS for the quarter, missing the consensus estimate of $2.62 by ($0.58). Rockwell Automation had a net margin of 13.35% and a return on equity of 37.22%. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter last year, the business earned $2.46 EPS. Sell-side analysts anticipate that Rockwell Automation, Inc. will post 11.98 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 13th will be issued a $1.25 dividend. The ex-dividend date is Friday, May 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.82%. Rockwell Automation’s dividend payout ratio (DPR) is presently 47.57%.

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.