Covestor Ltd Buys 65 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Covestor Ltd boosted its stake in Rockwell Automation, Inc. (NYSE:ROK) by 25.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 318 shares of the industrial products company’s stock after purchasing an additional 65 shares during the period. Covestor Ltd’s holdings in Rockwell Automation were worth $93,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Riverview Trust Co purchased a new stake in Rockwell Automation during the first quarter valued at $28,000. Bfsg LLC purchased a new stake in shares of Rockwell Automation during the 1st quarter valued at about $29,000. ESL Trust Services LLC bought a new position in shares of Rockwell Automation in the 1st quarter worth approximately $29,000. Security National Bank purchased a new position in shares of Rockwell Automation in the fourth quarter worth approximately $40,000. Finally, Cooksen Wealth LLC bought a new stake in Rockwell Automation during the fourth quarter valued at approximately $40,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Rockwell Automation news, SVP Tessa M. Myers sold 528 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $253.78, for a total value of $133,995.84. Following the completion of the sale, the senior vice president now owns 3,718 shares in the company, valued at approximately $943,554.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Rockwell Automation news, SVP Tessa M. Myers sold 528 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total value of $133,995.84. Following the completion of the sale, the senior vice president now owns 3,718 shares of the company’s stock, valued at $943,554.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Tessa M. Myers sold 248 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $256.37, for a total value of $63,579.76. Following the completion of the sale, the senior vice president now directly owns 4,246 shares in the company, valued at $1,088,547.02. The disclosure for this sale can be found here. Insiders sold 2,199 shares of company stock worth $572,750 over the last quarter. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ROK. Barclays cut their price objective on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Mizuho reduced their price target on shares of Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Redburn Atlantic started coverage on Rockwell Automation in a research report on Monday, July 8th. They set a “neutral” rating and a $256.00 target price for the company. Wells Fargo & Company lowered their price objective on shares of Rockwell Automation from $312.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Finally, Loop Capital dropped their price objective on shares of Rockwell Automation from $300.00 to $290.00 and set a “hold” rating for the company in a research note on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $300.71.

Rockwell Automation Stock Down 1.6 %

Rockwell Automation stock traded down $4.43 during midday trading on Wednesday, hitting $267.72. 214,103 shares of the stock were exchanged, compared to its average volume of 973,641. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.11 and a quick ratio of 0.74. Rockwell Automation, Inc. has a 1 year low of $249.00 and a 1 year high of $339.65. The company has a 50 day moving average price of $265.85 and a two-hundred day moving average price of $277.35. The firm has a market cap of $30.52 billion, a P/E ratio of 26.35, a P/E/G ratio of 4.57 and a beta of 1.37.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.35. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.05 billion. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.01 EPS. On average, sell-side analysts predict that Rockwell Automation, Inc. will post 10.12 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 12th will be given a $1.25 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $5.00 annualized dividend and a dividend yield of 1.87%. Rockwell Automation’s dividend payout ratio (DPR) is presently 48.88%.

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.