Rockwell Automation, Inc. (NYSE:ROK) Stock Position Raised by Truist Financial Corp

Truist Financial Corp lifted its position in Rockwell Automation, Inc. (NYSE:ROK) by 229.5% in the 4th quarter, Holdings Channel reports. The fund owned 102,347 shares of the industrial products company’s stock after buying an additional 71,288 shares during the period. Truist Financial Corp’s holdings in Rockwell Automation were worth $29,250,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. State Street Corp lifted its position in shares of Rockwell Automation by 0.3% in the 3rd quarter. State Street Corp now owns 4,648,137 shares of the industrial products company’s stock valued at $1,247,839,000 after acquiring an additional 11,949 shares in the last quarter. Geode Capital Management LLC lifted its position in Rockwell Automation by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,683,202 shares of the industrial products company’s stock worth $717,865,000 after buying an additional 14,040 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Rockwell Automation by 33.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,556,292 shares of the industrial products company’s stock worth $417,802,000 after buying an additional 390,784 shares in the last quarter. Accredited Investors Inc. lifted its position in Rockwell Automation by 162,058.5% in the 3rd quarter. Accredited Investors Inc. now owns 1,185,379 shares of the industrial products company’s stock worth $318,227,000 after buying an additional 1,184,648 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Rockwell Automation by 6.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,128,811 shares of the industrial products company’s stock worth $303,041,000 after buying an additional 67,684 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

NYSE:ROK opened at $301.03 on Wednesday. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $308.70. The firm’s fifty day simple moving average is $286.17 and its 200 day simple moving average is $276.17. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $34.03 billion, a PE ratio of 36.36, a PEG ratio of 2.89 and a beta of 1.35.

Rockwell Automation (NYSE:ROK) last posted its quarterly 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 11.53% and a return on equity of 30.42%. On average, sell-side analysts anticipate that Rockwell Automation, Inc. will post 9.32 EPS for the current year.

Rockwell Automation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th will be given a $1.31 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $5.24 annualized dividend and a yield of 1.74%. Rockwell Automation’s dividend payout ratio is 63.29%.

Insiders Place Their Bets

In other Rockwell Automation news, VP Terry L. Riesterer sold 850 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $300.21, for a total value of $255,178.50. Following the sale, the vice president now directly owns 1,633 shares in the company, valued at $490,242.93. This trade represents a 34.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Cyril Perducat sold 1,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the sale, the senior vice president now owns 3,630 shares in the company, valued at $1,089,000. This represents a 21.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,240 shares of company stock worth $10,800,555 in the last ninety days. Insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

ROK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating for the company in a research report on Wednesday, January 15th. Morgan Stanley increased their target price on shares of Rockwell Automation from $335.00 to $345.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. UBS Group initiated coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 target price for the company. Citigroup raised their price target on shares of Rockwell Automation from $345.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Robert W. Baird raised their price target on shares of Rockwell Automation from $305.00 to $315.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Rockwell Automation has a consensus rating of “Hold” and a consensus target price of $308.05.

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.