Drive Wealth Management LLC Takes Position in Rockwell Automation, Inc. (NYSE:ROK)

Drive Wealth Management LLC acquired a new stake in Rockwell Automation, Inc. (NYSE:ROKFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 700 shares of the industrial products company’s stock, valued at approximately $217,000.

Other institutional investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of Rockwell Automation in the third quarter valued at $26,000. Provence Wealth Management Group acquired a new position in Rockwell Automation during the 3rd quarter worth $27,000. Bruce G. Allen Investments LLC acquired a new position in Rockwell Automation during the 4th quarter worth $27,000. BluePath Capital Management LLC acquired a new position in Rockwell Automation during the 3rd quarter worth $29,000. Finally, Neo Ivy Capital Management acquired a new position in Rockwell Automation during the 2nd quarter worth $29,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Stock Down 1.1 %

Rockwell Automation stock opened at $280.20 on Wednesday. Rockwell Automation, Inc. has a fifty-two week low of $252.11 and a fifty-two week high of $348.52. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.25. The company has a market capitalization of $32.11 billion, a P/E ratio of 26.66, a PEG ratio of 2.65 and a beta of 1.43. The stock has a 50-day simple moving average of $283.58 and a 200-day simple moving average of $284.53.

Rockwell Automation (NYSE:ROKGet Free Report) last posted its earnings results on Wednesday, January 31st. The industrial products company reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.62 by ($0.58). Rockwell Automation had a net margin of 13.35% and a return on equity of 37.22%. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. Equities research analysts expect that Rockwell Automation, Inc. will post 12.29 earnings per share for the current year.

Rockwell Automation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Tuesday, February 20th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Friday, February 16th. Rockwell Automation’s payout ratio is currently 47.57%.

Analyst Ratings Changes

ROK has been the subject of several analyst reports. UBS Group raised Rockwell Automation from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $305.00 to $360.00 in a research note on Wednesday, January 3rd. Barclays lowered their target price on Rockwell Automation from $269.00 to $265.00 and set an “underweight” rating for the company in a research note on Tuesday. Citigroup lowered their target price on Rockwell Automation from $351.00 to $330.00 and set a “buy” rating for the company in a research note on Thursday, February 1st. Wells Fargo & Company lowered their target price on Rockwell Automation from $357.00 to $320.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $254.00 price target on shares of Rockwell Automation in a report on Thursday, March 21st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $308.00.

Read Our Latest Report on ROK

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, SVP Rebecca W. House sold 13,900 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $283.02, for a total transaction of $3,933,978.00. Following the completion of the sale, the senior vice president now directly owns 8,482 shares of the company’s stock, valued at approximately $2,400,575.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Rockwell Automation news, SVP Rebecca W. House sold 13,900 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $283.02, for a total transaction of $3,933,978.00. Following the completion of the sale, the senior vice president now directly owns 8,482 shares of the company’s stock, valued at approximately $2,400,575.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Brian A. Shepherd sold 637 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $262.87, for a total value of $167,448.19. Following the sale, the vice president now directly owns 5,088 shares of the company’s stock, valued at $1,337,482.56. The disclosure for this sale can be found here. Insiders sold a total of 17,877 shares of company stock valued at $5,058,772 in the last ninety days. Insiders own 0.68% of the company’s stock.

About Rockwell Automation

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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