QRG Capital Management Inc. Acquires 65 Shares of Rockwell Automation, Inc. (NYSE:ROK)

QRG Capital Management Inc. raised its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,660 shares of the industrial products company’s stock after acquiring an additional 65 shares during the quarter. QRG Capital Management Inc.’s holdings in Rockwell Automation were worth $1,046,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in Rockwell Automation during the third quarter valued at about $26,000. West Oak Capital LLC lifted its position in shares of Rockwell Automation by 455.6% during the fourth quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock valued at $29,000 after buying an additional 82 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Rockwell Automation in the 3rd quarter valued at about $34,000. Bank of Jackson Hole Trust purchased a new position in shares of Rockwell Automation in the 4th quarter worth approximately $34,000. Finally, Asset Planning Inc bought a new position in shares of Rockwell Automation during the 4th quarter worth approximately $49,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Rockwell Automation Trading Down 3.1 %

Shares of ROK stock opened at $278.20 on Tuesday. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $308.70. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.08. The stock’s fifty day moving average is $285.83 and its two-hundred day moving average is $278.69. The firm has a market capitalization of $31.46 billion, a P/E ratio of 34.65, a PEG ratio of 3.53 and a beta of 1.35.

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

Rockwell Automation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th will be issued a $1.31 dividend. This represents a $5.24 annualized dividend and a yield of 1.88%. The ex-dividend date is Tuesday, February 18th. Rockwell Automation’s payout ratio is currently 65.26%.

Insiders Place Their Bets

In related news, CEO Blake D. Moret sold 1,741 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $296.67, for a total transaction of $516,502.47. Following the completion of the sale, the chief executive officer now directly owns 80,309 shares in the company, valued at approximately $23,825,271.03. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Tessa M. Myers sold 1,231 shares of Rockwell Automation stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $285.43, for a total transaction of $351,364.33. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,147 shares of company stock valued at $2,680,378 in the last three months. 0.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ROK has been the subject of several recent analyst reports. Loop Capital raised their target price on shares of Rockwell Automation from $260.00 to $280.00 and gave the company a “hold” rating in a research note on Tuesday, February 25th. UBS Group began coverage on Rockwell Automation in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 price objective for the company. HSBC raised Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 target price on the stock in a research report on Wednesday, December 11th. The Goldman Sachs Group raised their price target on Rockwell Automation from $257.00 to $290.00 and gave the stock a “sell” rating in a report on Tuesday, February 11th. Finally, Stephens upgraded Rockwell Automation from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $275.00 to $350.00 in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $307.55.

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.