NewEdge Wealth LLC Cuts Stake in Rockwell Automation, Inc. (NYSE:ROK)

NewEdge Wealth LLC cut its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 13.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,201 shares of the industrial products company’s stock after selling 345 shares during the quarter. NewEdge Wealth LLC’s holdings in Rockwell Automation were worth $683,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ROK. Markel Corp increased its holdings in shares of Rockwell Automation by 1.3% in the 1st quarter. Markel Corp now owns 152,900 shares of the industrial products company’s stock valued at $42,816,000 after acquiring an additional 2,000 shares during the period. Sei Investments Co. boosted its position in Rockwell Automation by 10.3% during the first quarter. Sei Investments Co. now owns 57,480 shares of the industrial products company’s stock valued at $16,221,000 after purchasing an additional 5,386 shares in the last quarter. Prudential PLC purchased a new position in Rockwell Automation in the first quarter valued at about $642,000. Sequoia Financial Advisors LLC raised its holdings in Rockwell Automation by 3.0% in the first quarter. Sequoia Financial Advisors LLC now owns 3,649 shares of the industrial products company’s stock worth $1,021,000 after purchasing an additional 107 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Rockwell Automation by 0.9% during the first quarter. Vanguard Group Inc. now owns 11,472,877 shares of the industrial products company’s stock valued at $3,212,750,000 after buying an additional 106,641 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Stock Down 1.6 %

Shares of ROK stock opened at $281.42 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.25. Rockwell Automation, Inc. has a fifty-two week low of $252.11 and a fifty-two week high of $348.52. The firm has a market capitalization of $32.25 billion, a PE ratio of 26.78, a P/E/G ratio of 2.87 and a beta of 1.43. The stock’s 50-day simple moving average is $283.05 and its 200-day simple moving average is $284.38.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.62 by ($0.58). Rockwell Automation had a return on equity of 37.22% and a net margin of 13.35%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter last year, the company posted $2.46 EPS. Equities analysts expect that Rockwell Automation, Inc. will post 12.03 earnings per share for the current year.

Rockwell Automation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 13th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, May 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.78%. Rockwell Automation’s dividend payout ratio (DPR) is presently 47.57%.

Insider Activity at Rockwell Automation

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Barclays cut their price objective on shares of Rockwell Automation from $269.00 to $265.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 2nd. Oppenheimer reduced their price target on Rockwell Automation from $324.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, February 1st. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $254.00 price objective on shares of Rockwell Automation in a research report on Thursday, March 21st. 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 note on Wednesday, January 3rd. Finally, Citigroup decreased their price target on Rockwell Automation from $330.00 to $322.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $310.08.

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.