Connectus Wealth LLC Lowers Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Connectus Wealth LLC lessened its holdings in Rockwell Automation, Inc. (NYSE:ROKFree Report) by 79.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,289 shares of the industrial products company’s stock after selling 24,816 shares during the period. Connectus Wealth LLC’s holdings in Rockwell Automation were worth $1,953,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Provence Wealth Management Group bought a new stake in Rockwell Automation in the 3rd quarter worth approximately $27,000. Bruce G. Allen Investments LLC bought a new stake in shares of Rockwell Automation during the fourth quarter worth $27,000. Security National Bank purchased a new stake in Rockwell Automation in the 4th quarter valued at about $40,000. Fortitude Family Office LLC purchased a new stake in shares of Rockwell Automation in the fourth quarter valued at approximately $46,000. Finally, Cape Investment Advisory Inc. purchased a new position in Rockwell Automation during the 4th quarter valued at about $54,000. 75.75% of the stock is owned by institutional investors.

Insider Buying and Selling

In related 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 value of $171,412.49. Following the completion of the sale, the senior vice president now owns 4,630 shares in the company, valued at $1,204,309.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Tessa M. Myers sold 248 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $256.37, for a total transaction of $63,579.76. Following the transaction, the senior vice president now directly owns 4,246 shares in the company, valued at $1,088,547.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Cyril Perducat sold 659 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $260.11, for a total transaction of $171,412.49. Following the transaction, the senior vice president now directly owns 4,630 shares in the company, valued at approximately $1,204,309.30. The disclosure for this sale can be found here. Insiders sold a total of 1,671 shares of company stock valued at $438,754 over the last three months. 0.68% of the stock is currently owned by company insiders.

Rockwell Automation Trading Down 0.3 %

Shares of NYSE ROK opened at $255.16 on Tuesday. The stock has a market capitalization of $29.09 billion, a PE ratio of 24.94, a PEG ratio of 4.00 and a beta of 1.38. The company has a current ratio of 1.11, a quick ratio of 0.74 and a debt-to-equity ratio of 0.69. The stock has a fifty day simple moving average of $271.41 and a 200-day simple moving average of $283.01. Rockwell Automation, Inc. has a twelve month low of $251.28 and a twelve month high of $348.52.

Rockwell Automation (NYSE:ROKGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.35. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.05 billion. Rockwell Automation had a net margin of 13.19% and a return on equity of 34.83%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.01 EPS. On average, equities analysts forecast that Rockwell Automation, Inc. will post 10.14 earnings per share for the current year.

Rockwell Automation Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 1.96%. The ex-dividend date is Monday, August 12th. Rockwell Automation’s dividend payout ratio is presently 48.88%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Robert W. Baird lowered their target price on Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Citigroup lowered their price target 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. Barclays dropped their price target on Rockwell Automation from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 4th. Berenberg Bank restated a “hold” rating and issued a $290.00 price objective (down from $330.00) on shares of Rockwell Automation in a research note on Wednesday, March 6th. Finally, Wells Fargo & Company dropped their target price on Rockwell Automation from $320.00 to $312.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $307.21.

View Our Latest Stock Report on ROK

About Rockwell Automation

(Free Report)

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.

Further Reading

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

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