Pictet Asset Management SA Lowers Stake in Rockwell Automation, Inc. (NYSE:ROK)

Pictet Asset Management SA cut its position in Rockwell Automation, Inc. (NYSE:ROKGet Rating) by 0.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 61,175 shares of the industrial products company’s stock after selling 327 shares during the period. Pictet Asset Management SA owned approximately 0.05% of Rockwell Automation worth $12,193,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Roble Belko & Company Inc raised its holdings in Rockwell Automation by 3,233.3% in the first quarter. Roble Belko & Company Inc now owns 100 shares of the industrial products company’s stock worth $28,000 after buying an additional 97 shares during the last quarter. Steward Financial Group LLC purchased a new position in Rockwell Automation in the first quarter worth about $35,000. Hexagon Capital Partners LLC raised its holdings in Rockwell Automation by 62.5% in the second quarter. Hexagon Capital Partners LLC now owns 130 shares of the industrial products company’s stock worth $26,000 after buying an additional 50 shares during the last quarter. Heritage Financial Services LLC purchased a new position in Rockwell Automation in the second quarter worth about $27,000. Finally, Total Clarity Wealth Management Inc. bought a new stake in shares of Rockwell Automation in the second quarter worth approximately $31,000. 79.11% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Price Performance

ROK stock opened at $258.67 on Friday. Rockwell Automation, Inc. has a one year low of $190.08 and a one year high of $354.99. The company’s fifty day moving average price is $239.63 and its 200-day moving average price is $226.96. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.72 and a current ratio of 1.01. The company has a market capitalization of $29.71 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 2.66 and a beta of 1.46.

Rockwell Automation (NYSE:ROKGet Rating) last released its earnings results on Wednesday, November 2nd. The industrial products company reported $3.04 EPS for the quarter, topping the consensus estimate of $2.95 by $0.09. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.12 billion. Rockwell Automation had a net margin of 12.01% and a return on equity of 38.84%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 earnings per share. On average, equities analysts anticipate that Rockwell Automation, Inc. will post 10.71 EPS for the current fiscal year.

Rockwell Automation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Monday, November 14th will be paid a dividend of $1.18 per share. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $4.72 dividend on an annualized basis and a yield of 1.82%. Rockwell Automation’s dividend payout ratio is presently 59.22%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Argus lifted their price target on shares of Rockwell Automation from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. JPMorgan Chase & Co. lifted their price target on shares of Rockwell Automation from $180.00 to $195.00 and gave the stock an “underweight” rating in a research note on Friday, November 4th. Barclays reduced their price target on shares of Rockwell Automation from $212.00 to $206.00 and set an “equal weight” rating for the company in a research note on Monday, October 3rd. Morgan Stanley lifted their price target on shares of Rockwell Automation from $265.00 to $269.00 and gave the stock an “overweight” rating in a research note on Thursday, November 3rd. Finally, Citigroup cut their target price on shares of Rockwell Automation from $274.00 to $265.00 in a research report on Monday, October 10th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $238.19.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, SVP Veena M. Lakkundi sold 606 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $242.24, for a total transaction of $146,797.44. Following the transaction, the senior vice president now owns 1,269 shares in the company, valued at $307,402.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Rockwell Automation news, SVP Christopher Nardecchia sold 428 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $226.38, for a total transaction of $96,890.64. Following the transaction, the senior vice president now owns 7,809 shares in the company, valued at $1,767,801.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Veena M. Lakkundi sold 606 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $242.24, for a total transaction of $146,797.44. Following the transaction, the senior vice president now owns 1,269 shares in the company, valued at approximately $307,402.56. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

About Rockwell Automation

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Rockwell Automation, Inc provides industrial automation and digital transformation solutions in the United States and internationally. The company operates in three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products, and services.

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

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