PNC Financial Services Group Inc. Grows Holdings in Rockwell Automation, Inc. (NYSE:ROK)

PNC Financial Services Group Inc. boosted its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 90,402 shares of the industrial products company’s stock after acquiring an additional 363 shares during the period. PNC Financial Services Group Inc. owned 0.08% of Rockwell Automation worth $25,836,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ROK. Ashton Thomas Securities LLC bought a new stake in shares of Rockwell Automation during the 3rd quarter valued at $26,000. West Oak Capital LLC increased its stake in Rockwell Automation by 455.6% in the 4th quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after buying an additional 82 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in Rockwell Automation in the 3rd quarter worth $34,000. Bank of Jackson Hole Trust bought a new stake in Rockwell Automation during the fourth quarter valued at about $34,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Rockwell Automation in the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Insider Activity at Rockwell Automation

In related news, VP Isaac Woods sold 895 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $274.72, for a total transaction of $245,874.40. Following the completion of the transaction, the vice president now owns 1,198 shares in the company, valued at $329,114.56. The trade was a 42.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Tessa M. Myers sold 1,231 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $285.43, for a total value of $351,364.33. Following the completion of the transaction, the senior vice president now directly owns 3,650 shares in the company, valued at $1,041,819.50. This trade represents a 25.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,352 shares of company stock worth $1,246,298. Insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ROK. JPMorgan Chase & Co. cut their target price on Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating for the company in a research report on Wednesday, January 15th. UBS Group started coverage on shares of Rockwell Automation in a report on Wednesday, November 13th. They set a “neutral” rating and a $313.00 price objective for the company. Loop Capital lifted their price objective on shares of Rockwell Automation from $260.00 to $280.00 and gave the company a “hold” rating in a research report on Tuesday, February 25th. Jefferies Financial Group upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and upped their target price for the stock from $290.00 to $350.00 in a research report on Thursday, December 12th. Finally, Stephens upgraded shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $275.00 to $350.00 in a report on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Rockwell Automation presently has an average rating of “Hold” and a consensus price target of $307.68.

Rockwell Automation Price Performance

NYSE:ROK opened at $270.76 on Tuesday. The firm has a market capitalization of $30.62 billion, a price-to-earnings ratio of 33.72, a PEG ratio of 3.53 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.08 and a quick ratio of 0.72. The business has a 50 day simple moving average of $283.95 and a 200-day simple moving average of $278.97. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $308.70.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. Equities analysts forecast that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Tuesday, February 18th were paid a dividend of $1.31 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.94%. Rockwell Automation’s dividend payout ratio is presently 65.26%.

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.