Rockwell Automation, Inc. (NYSE:ROK) Shares Bought by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC raised its stake in Rockwell Automation, Inc. (NYSE:ROK) by 9.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 735 shares of the industrial products company’s stock after acquiring an additional 62 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Rockwell Automation were worth $214,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Valeo Financial Advisors LLC increased its position in shares of Rockwell Automation by 1.9% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,915 shares of the industrial products company’s stock valued at $595,000 after buying an additional 35 shares in the last quarter. Bison Wealth LLC increased its position in shares of Rockwell Automation by 3.3% in the fourth quarter. Bison Wealth LLC now owns 1,168 shares of the industrial products company’s stock valued at $363,000 after buying an additional 37 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Rockwell Automation by 3.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,115 shares of the industrial products company’s stock valued at $346,000 after buying an additional 37 shares in the last quarter. Raleigh Capital Management Inc. increased its position in shares of Rockwell Automation by 24.2% in the third quarter. Raleigh Capital Management Inc. now owns 195 shares of the industrial products company’s stock valued at $56,000 after buying an additional 38 shares in the last quarter. Finally, Cottage Street Advisors LLC increased its position in shares of Rockwell Automation by 3.8% in the fourth quarter. Cottage Street Advisors LLC now owns 1,038 shares of the industrial products company’s stock valued at $319,000 after buying an additional 38 shares in the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP John M. Miller sold 467 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 4,800 shares of the company’s stock, valued at approximately $1,311,696. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Cyril Perducat sold 659 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $260.11, for a total transaction of $171,412.49. Following the transaction, the senior vice president now owns 4,630 shares of the company’s stock, valued at approximately $1,204,309.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP John M. Miller sold 467 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $273.27, for a total value of $127,617.09. Following the transaction, the vice president now directly owns 4,800 shares in the company, valued at approximately $1,311,696. The disclosure for this sale can be found here. Insiders have sold a total of 2,199 shares of company stock valued at $572,750 in the last quarter. Insiders own 0.68% of the company’s stock.

Rockwell Automation Trading Up 2.8 %

NYSE ROK traded up $7.62 on Friday, reaching $275.28. 4,325,877 shares of the company were exchanged, compared to its average volume of 862,749. The business’s fifty day moving average price is $266.26 and its 200 day moving average price is $281.59. The stock has a market capitalization of $31.38 billion, a P/E ratio of 26.91, a price-to-earnings-growth ratio of 4.30 and a beta of 1.37. The company has a current ratio of 1.11, a quick ratio of 0.74 and a debt-to-equity ratio of 0.69. Rockwell Automation, Inc. has a fifty-two week low of $249.00 and a fifty-two week high of $348.52.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share 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 company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the company posted $3.01 earnings per share. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. Analysts forecast that Rockwell Automation, Inc. will post 10.15 earnings per share for the current year.

Rockwell Automation Dividend Announcement

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. This represents a $5.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Monday, August 12th. Rockwell Automation’s dividend payout ratio (DPR) is presently 48.88%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Citigroup cut their price objective on Rockwell Automation from $322.00 to $316.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Berenberg Bank reiterated a “hold” rating and set a $290.00 price target (down from $330.00) on shares of Rockwell Automation in a research report on Wednesday, March 6th. Wells Fargo & Company dropped their price target on Rockwell Automation from $320.00 to $312.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Robert W. Baird dropped their price target on Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. Finally, Loop Capital dropped their price target on Rockwell Automation from $300.00 to $290.00 and set a “hold” rating for the company in a research report on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $305.08.

Rockwell Automation Company 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.