Enterprise Bank & Trust Co Trims Position in Rockwell Automation, Inc. (NYSE:ROK)

Enterprise Bank & Trust Co lessened its holdings in shares of Rockwell Automation, Inc. (NYSE:ROKGet Rating) by 47.4% in the first quarter, HoldingsChannel.com reports. The fund owned 749 shares of the industrial products company’s stock after selling 676 shares during the period. Enterprise Bank & Trust Co’s holdings in Rockwell Automation were worth $210,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors raised its holdings in shares of Rockwell Automation by 35.2% during the fourth quarter. Capital World Investors now owns 4,892,850 shares of the industrial products company’s stock valued at $1,706,871,000 after acquiring an additional 1,272,634 shares in the last quarter. State Street Corp boosted its position in shares of Rockwell Automation by 2.6% during the fourth quarter. State Street Corp now owns 4,846,228 shares of the industrial products company’s stock valued at $1,690,607,000 after buying an additional 120,708 shares during the last quarter. Alliancebernstein L.P. boosted its position in Rockwell Automation by 9.8% in the fourth quarter. Alliancebernstein L.P. now owns 1,461,253 shares of the industrial products company’s stock worth $509,758,000 after purchasing an additional 130,498 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Rockwell Automation by 16.6% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,349,037 shares of the industrial products company’s stock worth $470,612,000 after buying an additional 191,618 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Rockwell Automation by 2.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,149,342 shares of the industrial products company’s stock worth $400,949,000 after buying an additional 32,860 shares during the period. 78.21% of the stock is owned by institutional investors and hedge funds.

In other Rockwell Automation news, Director Patricia A. Watson purchased 1,110 shares of the business’s stock in a transaction dated Thursday, May 5th. The shares were bought at an average price of $219.58 per share, with a total value of $243,733.80. Following the completion of the acquisition, the director now owns 4,827 shares in the company, valued at approximately $1,059,912.66. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Cyril Perducat sold 664 shares of Rockwell Automation stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $217.75, for a total value of $144,586.00. Following the sale, the senior vice president now directly owns 1,576 shares in the company, valued at approximately $343,174. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Shares of NYSE:ROK opened at $195.66 on Thursday. The business’s 50 day simple moving average is $220.36 and its 200-day simple moving average is $271.27. The firm has a market capitalization of $22.75 billion, a price-to-earnings ratio of 35.57, a price-to-earnings-growth ratio of 1.98 and a beta of 1.42. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.09 and a quick ratio of 0.78. Rockwell Automation, Inc. has a 12 month low of $190.08 and a 12 month high of $354.99.

Rockwell Automation (NYSE:ROKGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.61). Rockwell Automation had a return on equity of 35.96% and a net margin of 8.81%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the company earned $2.41 EPS. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities analysts anticipate that Rockwell Automation, Inc. will post 9.22 earnings per share for the current year.

Rockwell Automation declared that its board has authorized a stock repurchase program on Tuesday, May 3rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Monday, August 15th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.29%. The ex-dividend date is Friday, August 12th. Rockwell Automation’s dividend payout ratio (DPR) is presently 81.45%.

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their target price on Rockwell Automation from $318.00 to $292.00 and set a “hold” rating for the company in a report on Thursday, April 14th. Credit Suisse Group reduced their price target on Rockwell Automation from $308.00 to $256.00 in a research report on Wednesday, May 4th. The Goldman Sachs Group reduced their target price on Rockwell Automation from $294.00 to $252.00 and set a “sell” rating on the stock in a research report on Thursday, April 7th. Citigroup reduced their target price on Rockwell Automation from $357.00 to $310.00 in a research report on Wednesday, May 4th. Finally, UBS Group dropped their price target on Rockwell Automation to $205.00 in a research note on Wednesday, May 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $263.06.

Rockwell Automation Company Profile (Get Rating)

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in the United States and internationally. The company operates in three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products, and services.

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

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