Raymond James Trust N.A. Sells 515 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Raymond James Trust N.A. lessened its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 32.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,085 shares of the industrial products company’s stock after selling 515 shares during the quarter. Raymond James Trust N.A.’s holdings in Rockwell Automation were worth $299,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ROK. Russell Investments Group Ltd. increased its holdings in shares of Rockwell Automation by 31.1% during the fourth quarter. Russell Investments Group Ltd. now owns 42,028 shares of the industrial products company’s stock valued at $13,051,000 after acquiring an additional 9,961 shares in the last quarter. Choreo LLC increased its stake in Rockwell Automation by 41.0% during the 4th quarter. Choreo LLC now owns 1,963 shares of the industrial products company’s stock valued at $609,000 after purchasing an additional 571 shares in the last quarter. Kestra Private Wealth Services LLC raised its holdings in shares of Rockwell Automation by 82.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 2,135 shares of the industrial products company’s stock worth $663,000 after buying an additional 968 shares during the last quarter. Penobscot Investment Management Company Inc. grew its holdings in shares of Rockwell Automation by 1.2% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 4,848 shares of the industrial products company’s stock valued at $1,505,000 after buying an additional 58 shares during the last quarter. Finally, MONECO Advisors LLC increased its position in shares of Rockwell Automation by 6.4% in the 4th quarter. MONECO Advisors LLC now owns 2,430 shares of the industrial products company’s stock valued at $754,000 after acquiring an additional 147 shares during the period. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on ROK shares. Loop Capital lowered their price target on Rockwell Automation from $300.00 to $290.00 and set a “hold” rating for the company in a research report on Tuesday, May 14th. TD Cowen cut their price target on shares of Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company decreased their price objective on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Bank of America cut their price objective on shares of Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Mizuho decreased their target price on shares of Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $280.14.

Insider Transactions at Rockwell Automation

In related news, SVP Tessa M. Myers sold 528 shares of Rockwell Automation stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total value of $133,995.84. Following the sale, the senior vice president now directly owns 3,718 shares in the company, valued at approximately $943,554.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Rockwell Automation news, SVP Tessa M. Myers sold 528 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total value of $133,995.84. Following the transaction, the senior vice president now owns 3,718 shares in the company, valued at approximately $943,554.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tessa M. Myers sold 248 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $256.37, for a total transaction of $63,579.76. Following the sale, the senior vice president now directly owns 4,246 shares of the company’s stock, valued at approximately $1,088,547.02. The disclosure for this sale can be found here. Insiders sold 1,732 shares of company stock valued at $445,133 over the last 90 days. Corporate insiders own 0.68% of the company’s stock.

Rockwell Automation Price Performance

Shares of Rockwell Automation stock opened at $261.93 on Thursday. The firm has a market cap of $29.86 billion, a PE ratio of 25.60, a P/E/G ratio of 4.71 and a beta of 1.37. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $317.74. The company has a quick ratio of 0.74, a current ratio of 1.11 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average price of $266.81 and a 200 day moving average price of $272.28.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.63. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the business earned $3.01 earnings per share. The business’s revenue was down 8.4% compared to the same quarter last year. Sell-side analysts predict that Rockwell Automation, Inc. will post 10.07 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be given a $1.25 dividend. The ex-dividend date is Monday, August 12th. This represents a $5.00 annualized dividend and a dividend yield of 1.91%. Rockwell Automation’s dividend payout ratio (DPR) is 48.88%.

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.