State of Michigan Retirement System Sells 100 Shares of Rockwell Automation, Inc. (NYSE:ROK)

State of Michigan Retirement System cut its stake in Rockwell Automation, Inc. (NYSE:ROKFree Report) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,413 shares of the industrial products company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in Rockwell Automation were worth $9,753,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of Rockwell Automation in the third quarter valued at $26,000. Provence Wealth Management Group purchased a new position in shares of Rockwell Automation in the third quarter valued at $27,000. Bruce G. Allen Investments LLC purchased a new position in shares of Rockwell Automation in the fourth quarter valued at $27,000. BluePath Capital Management LLC purchased a new position in shares of Rockwell Automation in the third quarter valued at $29,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Rockwell Automation in the second quarter valued at $29,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ROK has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on Rockwell Automation from $357.00 to $320.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Barclays reduced their target price on Rockwell Automation from $269.00 to $265.00 and set an “underweight” rating for the company in a research report on Tuesday. UBS Group upgraded 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 report on Wednesday, January 3rd. Oppenheimer reduced their target price on Rockwell Automation from $324.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $254.00 target price on shares of Rockwell Automation in a research report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $308.00.

Get Our Latest Report on ROK

Insider Activity

In related news, VP Scott Genereux sold 500 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $290.00, for a total transaction of $145,000.00. Following the completion of the transaction, the vice president now owns 2,383 shares of the company’s stock, valued at approximately $691,070. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Scott Genereux sold 500 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $290.00, for a total transaction of $145,000.00. Following the completion of the transaction, the vice president now owns 2,383 shares of the company’s stock, valued at approximately $691,070. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Nicholas C. Gangestad sold 1,989 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.17, for a total value of $573,170.13. Following the transaction, the chief financial officer now directly owns 12,217 shares of the company’s stock, valued at approximately $3,520,572.89. The disclosure for this sale can be found here. Insiders sold a total of 17,877 shares of company stock worth $5,058,772 in the last quarter. 0.68% of the stock is owned by company insiders.

Rockwell Automation Trading Down 1.1 %

ROK opened at $280.20 on Wednesday. The stock has a market cap of $32.11 billion, a PE ratio of 26.66, a PEG ratio of 2.65 and a beta of 1.43. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 0.76. The business has a 50 day moving average of $283.58 and a 200-day moving average of $284.53. Rockwell Automation, Inc. has a 52 week low of $252.11 and a 52 week high of $348.52.

Rockwell Automation (NYSE:ROKGet Free Report) last released its earnings results on Wednesday, January 31st. The industrial products company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.58). The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Rockwell Automation had a net margin of 13.35% and a return on equity of 37.22%. During the same quarter in the previous year, the business earned $2.46 EPS. Equities research analysts predict that Rockwell Automation, Inc. will post 12.29 earnings per share for the current fiscal 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 paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Friday, February 16th. Rockwell Automation’s payout ratio is presently 47.57%.

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.

See Also

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

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