Global Retirement Partners LLC lessened its stake in Rockwell Automation, Inc. (NYSE:ROK – Get Rating) by 93.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 522 shares of the industrial products company’s stock after selling 7,110 shares during the quarter. Global Retirement Partners LLC’s holdings in Rockwell Automation were worth $133,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Hexagon Capital Partners LLC increased its stake in Rockwell Automation by 62.5% in the 2nd quarter. Hexagon Capital Partners LLC now owns 130 shares of the industrial products company’s stock valued at $26,000 after buying an additional 50 shares during the last quarter. Heritage Financial Services LLC purchased a new stake in shares of Rockwell Automation during the second quarter valued at approximately $27,000. Neo Ivy Capital Management bought a new stake in Rockwell Automation during the second quarter worth $29,000. Total Clarity Wealth Management Inc. purchased a new position in Rockwell Automation in the second quarter worth $31,000. Finally, BDO Wealth Advisors LLC grew its stake in Rockwell Automation by 103.8% in the 3rd quarter. BDO Wealth Advisors LLC now owns 163 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 83 shares during the period. Hedge funds and other institutional investors own 77.66% of the company’s stock.
Wall Street Analysts Forecast Growth
ROK has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on shares of Rockwell Automation from $269.00 to $284.00 and gave the stock an “overweight” rating in a report on Friday, January 6th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Rockwell Automation from $231.00 to $239.00 and gave the company a “hold” rating in a research report on Thursday, October 13th. The Goldman Sachs Group lifted their price target on shares of Rockwell Automation from $211.00 to $238.00 and gave the stock a “sell” rating in a report on Thursday, December 15th. Oppenheimer upped their price objective on Rockwell Automation from $278.00 to $290.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Wells Fargo & Company upped their price target on Rockwell Automation from $233.00 to $249.00 and gave the company an “underweight” rating in a research report on Thursday, January 19th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $245.63.
Rockwell Automation Price Performance
Rockwell Automation (NYSE:ROK – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The industrial products company reported $3.04 EPS for the quarter, beating the consensus estimate of $2.94 by $0.10. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.12 billion. Rockwell Automation had a net margin of 12.01% and a return on equity of 38.84%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period last year, the firm earned $2.33 EPS. As a group, sell-side analysts predict that Rockwell Automation, Inc. will post 10.68 earnings per share for the current fiscal year.
Rockwell Automation Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Monday, November 14th were paid a $1.18 dividend. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.12. This represents a $4.72 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Thursday, November 10th. Rockwell Automation’s dividend payout ratio is currently 59.22%.
Insider Buying and Selling at Rockwell Automation
In related news, SVP Veena M. Lakkundi sold 606 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $242.24, for a total value of $146,797.44. Following the transaction, the senior vice president now directly owns 1,269 shares in the company, valued at $307,402.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Rockwell Automation news, SVP Veena M. Lakkundi sold 606 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $242.24, for a total value of $146,797.44. Following the completion of the transaction, the senior vice president now owns 1,269 shares of the company’s stock, valued at approximately $307,402.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP John M. Miller sold 190 shares of the firm’s stock in a transaction on Wednesday, December 7th. The shares were sold at an average price of $256.63, for a total transaction of $48,759.70. Following the sale, the vice president now owns 4,761 shares in the company, valued at approximately $1,221,815.43. The disclosure for this sale can be found here. Insiders have sold a total of 13,304 shares of company stock valued at $3,410,562 in the last 90 days. Corporate insiders own 0.64% of the company’s stock.
Rockwell Automation 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.
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