Allspring Global Investments Holdings LLC Has $5.93 Million Stake in Rockwell Automation, Inc. (NYSE:ROK)

Allspring Global Investments Holdings LLC lowered its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 11.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 19,099 shares of the industrial products company’s stock after selling 2,443 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Rockwell Automation were worth $5,930,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in Rockwell Automation during the 3rd quarter valued at about $26,000. Provence Wealth Management Group acquired a new position in Rockwell Automation during the 3rd quarter valued at about $27,000. Bruce G. Allen Investments LLC acquired a new position in Rockwell Automation during the 4th quarter valued at about $27,000. BluePath Capital Management LLC acquired a new position in Rockwell Automation during the 3rd quarter valued at about $29,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Rockwell Automation in the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Berenberg Bank restated a “hold” rating and issued a $290.00 target price (down previously from $330.00) on shares of Rockwell Automation in a research note on Wednesday, March 6th. Oppenheimer cut their target price on Rockwell Automation from $324.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, February 1st. 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. Citigroup cut their target price on Rockwell Automation from $330.00 to $322.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Finally, Wells Fargo & Company cut their target price on Rockwell Automation from $357.00 to $320.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Rockwell Automation presently has a consensus rating of “Hold” and an average target price of $310.08.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, VP Brian A. Shepherd sold 637 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $262.87, for a total transaction of $167,448.19. Following the sale, the vice president now owns 5,088 shares of the company’s stock, valued at approximately $1,337,482.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Brian A. Shepherd sold 637 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $262.87, for a total value of $167,448.19. Following the transaction, the vice president now owns 5,088 shares of the company’s stock, valued at $1,337,482.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Nicholas C. Gangestad sold 1,989 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $288.17, for a total transaction of $573,170.13. Following the completion of the transaction, the chief financial officer now directly owns 12,217 shares in the company, valued at approximately $3,520,572.89. The disclosure for this sale can be found here. Insiders have sold 17,877 shares of company stock valued at $5,058,772 in the last 90 days. 0.68% of the stock is currently owned by company insiders.

Rockwell Automation Price Performance

Rockwell Automation stock opened at $273.50 on Friday. The business’s 50 day simple moving average is $283.13 and its 200 day simple moving average is $284.27. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. Rockwell Automation, Inc. has a 12 month low of $252.11 and a 12 month high of $348.52. The company has a market cap of $31.34 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 2.83 and a beta of 1.43.

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

Rockwell Automation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 13th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $5.00 dividend on an annualized basis and a yield of 1.83%. Rockwell Automation’s payout ratio is 47.57%.

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.