Allspring Global Investments Holdings LLC boosted its stake in Rockwell Automation, Inc. (NYSE:ROK – Free Report) by 31.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,118 shares of the industrial products company’s stock after buying an additional 2,205 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Rockwell Automation were worth $3,004,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of ROK. Neo Ivy Capital Management bought a new position in shares of Rockwell Automation during the 2nd quarter valued at about $29,000. Clear Street Markets LLC bought a new position in shares of Rockwell Automation during the 4th quarter valued at about $30,000. First Manhattan Co. boosted its position in shares of Rockwell Automation by 150.0% during the 4th quarter. First Manhattan Co. now owns 125 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 75 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its position in shares of Rockwell Automation by 62.9% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 101 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 39 shares in the last quarter. Finally, Fortis Capital Advisors LLC bought a new position in shares of Rockwell Automation during the 1st quarter valued at about $37,000. Institutional investors own 80.84% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on ROK shares. KeyCorp started coverage on shares of Rockwell Automation in a research report on Monday, October 2nd. They set a “sector weight” rating for the company. Barclays reduced their price objective on shares of Rockwell Automation from $287.00 to $270.00 in a research report on Tuesday, October 10th. Bank of America decreased their target price on shares of Rockwell Automation from $375.00 to $335.00 in a report on Wednesday, August 2nd. Stephens reiterated an “equal weight” rating and issued a $350.00 target price on shares of Rockwell Automation in a report on Friday. Finally, Morgan Stanley raised their target price on shares of Rockwell Automation from $340.00 to $345.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Rockwell Automation currently has a consensus rating of “Hold” and a consensus price target of $299.20.
Rockwell Automation Price Performance
NYSE ROK opened at $263.70 on Friday. The company has a 50 day simple moving average of $286.29 and a 200-day simple moving average of $297.24. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.70 and a quick ratio of 0.76. The firm has a market capitalization of $30.29 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 1.68 and a beta of 1.46. Rockwell Automation, Inc. has a 52-week low of $240.30 and a 52-week high of $348.52.
Rockwell Automation Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Monday, November 13th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.90%. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.18. The ex-dividend date is Friday, November 10th. Rockwell Automation’s dividend payout ratio is 41.81%.
Insider Transactions at Rockwell Automation
In other news, SVP Veena M. Lakkundi sold 597 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $257.14, for a total value of $153,512.58. Following the completion of the sale, the senior vice president now directly owns 2,805 shares of the company’s stock, valued at $721,277.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Scott Genereux sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $297.62, for a total transaction of $148,810.00. Following the transaction, the vice president now owns 2,876 shares of the company’s stock, valued at $855,955.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Veena M. Lakkundi sold 597 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $257.14, for a total transaction of $153,512.58. Following the transaction, the senior vice president now directly owns 2,805 shares in the company, valued at approximately $721,277.70. The disclosure for this sale can be found here. Insiders sold 1,650 shares of company stock valued at $460,091 over the last three months. 0.64% of the stock is owned by corporate insiders.
About Rockwell Automation
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.
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