Cypress Capital Group Trims Position in Rockwell Automation, Inc. (NYSE:ROK)


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Cypress Capital Group cut its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 9.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,189 shares of the industrial products company’s stock after selling 342 shares during the quarter. Cypress Capital Group’s holdings in Rockwell Automation were worth $847,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. CVA Family Office LLC raised its position in Rockwell Automation by 50.0% during the 1st quarter. CVA Family Office LLC now owns 300 shares of the industrial products company’s stock worth $80,000 after buying an additional 100 shares during the last quarter. Redpoint Investment Management Pty Ltd purchased a new position in Rockwell Automation during the 1st quarter worth approximately $803,000. Royal London Asset Management Ltd. raised its position in Rockwell Automation by 3.9% during the 1st quarter. Royal London Asset Management Ltd. now owns 44,046 shares of the industrial products company’s stock worth $11,692,000 after buying an additional 1,641 shares during the last quarter. Acropolis Investment Management LLC raised its position in Rockwell Automation by 5.9% during the 1st quarter. Acropolis Investment Management LLC now owns 6,229 shares of the industrial products company’s stock worth $1,653,000 after buying an additional 347 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC raised its position in Rockwell Automation by 5.5% during the 1st quarter. Carnegie Capital Asset Management LLC now owns 82,704 shares of the industrial products company’s stock worth $21,976,000 after buying an additional 4,278 shares during the last quarter. 76.21% of the stock is owned by institutional investors.

Shares of ROK opened at $264.28 on Friday. Rockwell Automation, Inc. has a 52-week low of $154.85 and a 52-week high of $275.43. The company has a quick ratio of 1.16, a current ratio of 1.48 and a debt-to-equity ratio of 1.47. The firm’s fifty day moving average is $259.96 and its two-hundred day moving average is $250.23. The stock has a market cap of $30.70 billion, a PE ratio of 30.13, a price-to-earnings-growth ratio of 3.26 and a beta of 1.37.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Monday, January 25th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.49. Rockwell Automation had a net margin of 16.17% and a return on equity of 81.39%. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the company posted $2.11 EPS. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. As a group, research analysts anticipate that Rockwell Automation, Inc. will post 8.65 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 10th. Shareholders of record on Monday, May 17th will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, May 14th. This represents a $4.28 annualized dividend and a yield of 1.62%. Rockwell Automation’s dividend payout ratio (DPR) is presently 55.73%.

Several research firms have recently weighed in on ROK. Robert W. Baird raised shares of Rockwell Automation from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $253.00 to $275.00 in a report on Wednesday, January 27th. Barclays lifted their target price on shares of Rockwell Automation from $265.00 to $269.00 and gave the company an “equal weight” rating in a report on Tuesday. Credit Suisse Group cut their target price on shares of Rockwell Automation from $254.00 to $248.00 and set a “neutral” rating for the company in a report on Wednesday, January 27th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Rockwell Automation from $242.00 to $268.00 and gave the company a “hold” rating in a report on Tuesday. Finally, Rosenblatt Securities cut their target price on shares of Rockwell Automation from $245.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, January 27th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $250.71.

In other news, SVP Frank C. Kulaszewicz sold 100 shares of the business’s stock in a transaction dated Monday, March 8th. The shares were sold at an average price of $255.14, for a total transaction of $25,514.00. Following the transaction, the senior vice president now owns 19,462 shares of the company’s stock, valued at approximately $4,965,534.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Blake D. Moret sold 16,900 shares of the business’s stock in a transaction dated Thursday, January 21st. The shares were sold at an average price of $268.08, for a total transaction of $4,530,552.00. Following the transaction, the chief executive officer now directly owns 65,785 shares in the company, valued at approximately $17,635,642.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,200 shares of company stock worth $5,873,278. Corporate insiders own 0.79% of the company’s stock.

Rockwell Automation Profile

Rockwell Automation, Inc provides industrial automation and digital transformation solutions. The company operates in two segments, Architecture & Software, and Control Products & Solutions. The Architecture & Software segment offers a portfolio of automation and information platforms, including hardware and software.

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

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