SevenBridge Financial Group LLC Cuts Stake in Rockwell Automation, Inc. (NYSE:ROK)

SevenBridge Financial Group LLC trimmed its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 5.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,063 shares of the industrial products company’s stock after selling 59 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Rockwell Automation were worth $323,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Townsquare Capital LLC grew its stake in shares of Rockwell Automation by 13.2% during the third quarter. Townsquare Capital LLC now owns 2,104 shares of the industrial products company’s stock valued at $565,000 after buying an additional 245 shares during the last quarter. Public Sector Pension Investment Board grew its position in Rockwell Automation by 14.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,897 shares of the industrial products company’s stock worth $1,315,000 after acquiring an additional 600 shares during the last quarter. Ascent Group LLC increased its stake in Rockwell Automation by 7.2% in the 3rd quarter. Ascent Group LLC now owns 3,520 shares of the industrial products company’s stock worth $945,000 after purchasing an additional 235 shares during the period. Centiva Capital LP bought a new stake in Rockwell Automation in the third quarter valued at approximately $1,186,000. Finally, Investment Management Corp of Ontario boosted its stake in shares of Rockwell Automation by 50.9% during the third quarter. Investment Management Corp of Ontario now owns 3,854 shares of the industrial products company’s stock valued at $1,035,000 after purchasing an additional 1,300 shares during the period. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Price Performance

Shares of ROK opened at $260.75 on Thursday. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $308.70. The firm’s 50-day simple moving average is $277.15 and its two-hundred day simple moving average is $278.76. The stock has a market cap of $29.48 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 3.53 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.08.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Monday, February 10th. The industrial products company reported $1.83 earnings per share for the quarter, beating 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%. Analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 2.01%. Rockwell Automation’s dividend payout ratio (DPR) is 65.26%.

Insider Buying and Selling at Rockwell Automation

In related news, VP Terry L. Riesterer sold 850 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $300.21, for a total value of $255,178.50. Following the transaction, the vice president now directly owns 1,633 shares of the company’s stock, valued at approximately $490,242.93. This represents a 34.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Tessa M. Myers sold 1,231 shares of Rockwell Automation stock in a transaction on Friday, February 28th. The stock was sold at an average price of $285.43, for a total value of $351,364.33. Following the completion of the sale, the senior vice president now directly owns 3,650 shares of the company’s stock, valued at approximately $1,041,819.50. The trade was a 25.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,352 shares of company stock worth $1,246,298. 0.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ROK. Citigroup upped 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. The Goldman Sachs Group upped their price objective on shares of Rockwell Automation from $257.00 to $290.00 and gave the company a “sell” rating in a research note on Tuesday, February 11th. Morgan Stanley raised their target price on Rockwell Automation from $335.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. KeyCorp raised Rockwell Automation from a “sector weight” rating to an “overweight” rating and set a $345.00 price target for the company in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. cut their price objective on Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 15th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $307.42.

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.