Pitcairn Co. Boosts Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Pitcairn Co. grew its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,096 shares of the industrial products company’s stock after buying an additional 44 shares during the quarter. Pitcairn Co.’s holdings in Rockwell Automation were worth $319,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in ROK. Patrick M Sweeney & Associates Inc. acquired a new stake in Rockwell Automation in the fourth quarter valued at $380,000. Sequoia Financial Advisors LLC lifted its holdings in Rockwell Automation by 676.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 32,156 shares of the industrial products company’s stock valued at $9,984,000 after purchasing an additional 28,016 shares in the last quarter. Carnegie Capital Asset Management LLC boosted its stake in shares of Rockwell Automation by 5.0% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 85,551 shares of the industrial products company’s stock worth $26,562,000 after purchasing an additional 4,093 shares during the last quarter. Lincoln National Corp grew its holdings in shares of Rockwell Automation by 76.5% during the fourth quarter. Lincoln National Corp now owns 3,111 shares of the industrial products company’s stock worth $966,000 after buying an additional 1,348 shares in the last quarter. Finally, Norden Group LLC acquired a new position in shares of Rockwell Automation in the first quarter valued at approximately $2,003,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

Shares of NYSE:ROK traded up $7.80 during trading on Thursday, reaching $270.87. 1,222,413 shares of the company’s stock traded hands, compared to its average volume of 978,806. The stock has a market capitalization of $30.88 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 4.51 and a beta of 1.37. The company has a 50 day moving average of $265.61 and a 200-day moving average of $277.25. Rockwell Automation, Inc. has a 12 month low of $249.00 and a 12 month high of $339.65. 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 (NYSE:ROK) last issued its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.35. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the business earned $3.01 EPS. The firm’s revenue was down 6.6% on a year-over-year basis. On average, equities analysts expect that Rockwell Automation, Inc. will post 10.12 EPS for the current year.

Rockwell Automation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be paid a $1.25 dividend. The ex-dividend date is Monday, August 12th. This represents a $5.00 annualized dividend and a dividend yield of 1.85%. Rockwell Automation’s payout ratio is 48.88%.

Insider Activity

In other news, VP John M. Miller sold 467 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $273.27, for a total value of $127,617.09. Following the completion of the transaction, the vice president now directly owns 4,800 shares in the company, valued at $1,311,696. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Rockwell Automation news, VP John M. Miller sold 467 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $273.27, for a total value of $127,617.09. Following the completion of the sale, the vice president now directly owns 4,800 shares in the company, valued at $1,311,696. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tessa M. Myers sold 528 shares of Rockwell Automation stock in a transaction 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 transaction, the senior vice president now owns 3,718 shares in the company, valued at $943,554.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,199 shares of company stock valued at $572,750. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

ROK has been the subject of several recent analyst reports. Wells Fargo & Company lowered their target price on shares of Rockwell Automation from $312.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Mizuho dropped their target price on Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Citigroup decreased their price target on Rockwell Automation from $322.00 to $316.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Robert W. Baird reduced their target price on Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Finally, Redburn Atlantic assumed coverage on Rockwell Automation in a report on Monday, July 8th. They issued a “neutral” rating and a $256.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $300.71.

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.