Broderick Brian C Raises Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Broderick Brian C raised its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 7.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,956 shares of the industrial products company’s stock after purchasing an additional 2,975 shares during the period. Rockwell Automation makes up about 2.7% of Broderick Brian C’s investment portfolio, making the stock its 15th largest holding. Broderick Brian C’s holdings in Rockwell Automation were worth $12,514,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ROK. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Rockwell Automation by 6.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 955,574 shares of the industrial products company’s stock valued at $278,387,000 after buying an additional 54,948 shares during the period. Dimensional Fund Advisors LP raised its holdings in Rockwell Automation by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 678,442 shares of the industrial products company’s stock worth $210,644,000 after purchasing an additional 19,656 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Rockwell Automation by 5.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 645,485 shares of the industrial products company’s stock worth $200,410,000 after purchasing an additional 35,070 shares during the period. Fisher Asset Management LLC raised its holdings in Rockwell Automation by 4.2% in the 4th quarter. Fisher Asset Management LLC now owns 579,022 shares of the industrial products company’s stock worth $179,775,000 after purchasing an additional 23,084 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in Rockwell Automation by 27.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 420,099 shares of the industrial products company’s stock worth $129,247,000 after purchasing an additional 89,207 shares during the period. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on ROK. JPMorgan Chase & Co. reissued an “underweight” rating and set a $254.00 price target on shares of Rockwell Automation in a report on Thursday, March 21st. Wells Fargo & Company cut their price objective on Rockwell Automation from $312.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday. 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. Redburn Atlantic started coverage on Rockwell Automation in a research report on Monday. They issued a “neutral” rating and a $256.00 price target for the company. Finally, Barclays dropped their price target on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $300.71.

Rockwell Automation Stock Performance

Shares of NYSE:ROK traded up $9.15 during midday trading on Thursday, hitting $274.23. The stock had a trading volume of 710,155 shares, compared to its average volume of 988,264. The company has a market capitalization of $31.26 billion, a PE ratio of 26.81, a P/E/G ratio of 4.38 and a beta of 1.37. The stock has a 50 day moving average price of $264.65 and a two-hundred day moving average price of $279.33. 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 1 year low of $249.00 and a 1 year high of $348.52.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.35. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Rockwell Automation had a net margin of 13.19% and a return on equity of 34.83%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.01 earnings per share. As a group, equities analysts predict that Rockwell Automation, Inc. will post 10.15 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 12th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Monday, August 12th. Rockwell Automation’s dividend payout ratio is currently 48.88%.

Insider Transactions at Rockwell Automation

In related news, SVP Cyril Perducat sold 659 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $260.11, for a total transaction of $171,412.49. Following the completion of the sale, the senior vice president now directly owns 4,630 shares of the company’s stock, valued at approximately $1,204,309.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Rockwell Automation news, SVP Cyril Perducat sold 659 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were 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 can be accessed through this link. Also, VP Isaac Woods sold 297 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $256.38, for a total transaction of $76,144.86. Following the transaction, the vice president now directly owns 1,833 shares in the company, valued at approximately $469,944.54. The disclosure for this sale can be found here. Insiders sold 2,199 shares of company stock valued at $572,750 over the last 90 days. Corporate insiders own 0.68% of the company’s stock.

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.