Assenagon Asset Management S.A. Cuts Stake in Rockwell Automation, Inc. (NYSE:ROK)

Assenagon Asset Management S.A. cut its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 73.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,890 shares of the industrial products company’s stock after selling 27,349 shares during the period. Assenagon Asset Management S.A.’s holdings in Rockwell Automation were worth $2,555,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ROK. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Rockwell Automation by 0.9% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,775 shares of the industrial products company’s stock valued at $1,079,000 after purchasing an additional 33 shares in the last quarter. Whittier Trust Co. boosted its holdings in shares of Rockwell Automation by 1.9% during the 4th quarter. Whittier Trust Co. now owns 1,896 shares of the industrial products company’s stock valued at $542,000 after acquiring an additional 35 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its stake in shares of Rockwell Automation by 0.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company’s stock worth $1,199,000 after acquiring an additional 38 shares during the last quarter. Lake Street Advisors Group LLC lifted its holdings in Rockwell Automation by 3.0% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,351 shares of the industrial products company’s stock valued at $386,000 after purchasing an additional 39 shares in the last quarter. Finally, Knuff & Co LLC boosted its holdings in Rockwell Automation by 41.0% in the 4th quarter. Knuff & Co LLC now owns 141 shares of the industrial products company’s stock worth $40,000 after buying an additional 41 shares during the period. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Trading Up 1.9%

NYSE ROK opened at $323.83 on Tuesday. Rockwell Automation, Inc. has a 12 month low of $215.00 and a 12 month high of $328.90. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.08 and a quick ratio of 0.72. The company has a market capitalization of $36.50 billion, a price-to-earnings ratio of 40.33, a price-to-earnings-growth ratio of 3.53 and a beta of 1.38. The firm’s fifty day moving average price is $281.60 and its 200 day moving average price is $279.87.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.09 by $0.36. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter last year, the business earned $2.50 earnings per share. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, sell-side analysts expect that Rockwell Automation, Inc. will post 9.35 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 Wednesday, September 10th. Investors of record on Monday, August 18th will be issued a $1.31 dividend. The ex-dividend date is Monday, August 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.62%. Rockwell Automation’s payout ratio is 65.99%.

Wall Street Analyst Weigh In

Several research analysts have commented on ROK shares. KeyCorp reissued an “overweight” rating and set a $360.00 price objective (up previously from $345.00) on shares of Rockwell Automation in a report on Friday. TD Cowen raised shares of Rockwell Automation from a “sell” rating to a “hold” rating and set a $275.00 target price on the stock in a research report on Friday, May 9th. BNP Paribas upgraded shares of Rockwell Automation from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 9th. Barclays upgraded shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $283.00 to $350.00 in a research note on Friday, May 30th. Finally, Citigroup lifted their price objective on shares of Rockwell Automation from $327.00 to $371.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $317.79.

Insiders Place Their Bets

In other news, VP Terry L. Riesterer sold 2,500 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $304.13, for a total transaction of $760,325.00. Following the completion of the transaction, the vice president now owns 1,033 shares in the company, valued at approximately $314,166.29. This trade represents a 70.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Matheus De A. G. Viera Bulho sold 293 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $257.68, for a total transaction of $75,500.24. Following the transaction, the senior vice president now directly owns 1,922 shares in the company, valued at approximately $495,260.96. The trade was a 13.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,681 shares of company stock worth $2,382,987 over the last ninety days. 0.68% of the stock is owned by company insiders.

Rockwell Automation Company Profile

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.