Westwood Holdings Group Inc. Cuts Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

Westwood Holdings Group Inc. lessened its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 24.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,278 shares of the industrial products company’s stock after selling 2,079 shares during the period. Westwood Holdings Group Inc.’s holdings in Rockwell Automation were worth $1,794,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ROK. Merit Financial Group LLC raised its stake in shares of Rockwell Automation by 51.6% in the 4th quarter. Merit Financial Group LLC now owns 2,752 shares of the industrial products company’s stock valued at $787,000 after acquiring an additional 937 shares during the period. HB Wealth Management LLC raised its stake in shares of Rockwell Automation by 9.8% in the 4th quarter. HB Wealth Management LLC now owns 4,428 shares of the industrial products company’s stock valued at $1,265,000 after acquiring an additional 394 shares during the period. Ameritas Advisory Services LLC raised its stake in shares of Rockwell Automation by 99.1% in the 4th quarter. Ameritas Advisory Services LLC now owns 5,187 shares of the industrial products company’s stock valued at $1,482,000 after acquiring an additional 2,582 shares during the period. Ballentine Partners LLC raised its stake in shares of Rockwell Automation by 20.9% in the 4th quarter. Ballentine Partners LLC now owns 1,907 shares of the industrial products company’s stock valued at $545,000 after acquiring an additional 330 shares during the period. Finally, Atomi Financial Group Inc. raised its stake in shares of Rockwell Automation by 23.6% in the 4th quarter. Atomi Financial Group Inc. now owns 1,372 shares of the industrial products company’s stock valued at $392,000 after acquiring an additional 262 shares during the period. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Price Performance

ROK opened at $307.76 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.08. Rockwell Automation, Inc. has a 1-year low of $215.00 and a 1-year high of $310.78. The company has a 50-day moving average of $257.34 and a 200-day moving average of $275.63. The company has a market capitalization of $34.69 billion, a P/E ratio of 38.33, a PEG ratio of 3.53 and a beta of 1.32.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.36. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the firm earned $2.50 EPS. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. Equities analysts expect that Rockwell Automation, Inc. will post 9.35 EPS 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 given a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, May 19th. Rockwell Automation’s dividend payout ratio is presently 65.99%.

Analysts Set New Price Targets

ROK has been the topic of a number of research reports. Citigroup lifted their price target on shares of Rockwell Automation from $283.00 to $327.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Barclays lifted their price target on shares of Rockwell Automation from $260.00 to $283.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. KeyCorp lifted their price target on shares of Rockwell Automation from $275.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Loop Capital lifted their price target on shares of Rockwell Automation from $280.00 to $290.00 and gave the stock a “hold” rating in a research note on Thursday, May 15th. Finally, Wells Fargo & Company lifted their price target on shares of Rockwell Automation from $265.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.37.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, SVP Matheus De A. G. Viera Bulho sold 293 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $257.68, for a total transaction of $75,500.24. Following the completion of the transaction, the senior vice president now directly owns 1,922 shares of the company’s stock, valued at $495,260.96. The trade was a 13.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Terry L. Riesterer sold 2,500 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $304.13, for a total transaction of $760,325.00. Following the transaction, the vice president now directly owns 1,033 shares of the company’s stock, valued at $314,166.29. The trade was a 70.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,839 shares of company stock valued at $2,014,256 in the last quarter. 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.