15,032 Shares in Rockwell Automation, Inc. (NYSE:ROK) Bought by Grandfield & Dodd LLC

Grandfield & Dodd LLC purchased a new position in Rockwell Automation, Inc. (NYSE:ROK) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,032 shares of the industrial products company’s stock, valued at approximately $4,379,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Patrick M Sweeney & Associates Inc. purchased a new stake in Rockwell Automation in the fourth quarter worth $380,000. Sequoia Financial Advisors LLC grew its stake in shares of Rockwell Automation by 676.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 32,156 shares of the industrial products company’s stock worth $9,984,000 after acquiring an additional 28,016 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Rockwell Automation by 0.9% in the third quarter. Mercer Global Advisors Inc. ADV now owns 11,423 shares of the industrial products company’s stock worth $3,266,000 after acquiring an additional 97 shares during the last quarter. Carnegie Capital Asset Management LLC grew its stake in shares of Rockwell Automation by 5.0% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 85,551 shares of the industrial products company’s stock worth $26,562,000 after acquiring an additional 4,093 shares during the last quarter. Finally, Lincoln National Corp grew its stake in shares of Rockwell Automation by 76.5% in the fourth quarter. Lincoln National Corp now owns 3,111 shares of the industrial products company’s stock worth $966,000 after acquiring an additional 1,348 shares during the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ROK shares. Wells Fargo & Company cut their target price on Rockwell Automation from $312.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday. Mizuho cut their target price on Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Barclays dropped their price objective on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Wednesday. Citigroup dropped their price objective on Rockwell Automation from $322.00 to $316.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Finally, Robert W. Baird lowered their target price on Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $300.71.

Rockwell Automation Stock Performance

Shares of NYSE ROK traded up $9.15 during trading on Thursday, hitting $274.23. The company had a trading volume of 710,155 shares, compared to its average volume of 988,264. The stock has a 50 day simple moving average of $264.65 and a 200 day simple moving average of $279.33. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.11. Rockwell Automation, Inc. has a 12 month low of $249.00 and a 12 month high of $348.52. The firm has a market capitalization of $31.26 billion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 4.38 and a beta of 1.37.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.15 by $0.35. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.05 billion. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.01 earnings per share. As a group, analysts anticipate that Rockwell Automation, Inc. will post 10.15 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 12th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.82%. The ex-dividend date is Monday, August 12th. Rockwell Automation’s dividend payout ratio (DPR) is presently 48.88%.

Insider Activity at Rockwell Automation

In related news, VP John M. Miller sold 467 shares of Rockwell Automation stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $273.27, for a total transaction of $127,617.09. Following the sale, the vice president now owns 4,800 shares of the company’s stock, valued at approximately $1,311,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Rockwell Automation news, VP John M. Miller sold 467 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $273.27, for a total transaction of $127,617.09. Following the completion of the transaction, the vice president now owns 4,800 shares in the company, valued at approximately $1,311,696. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Cyril Perducat sold 659 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $260.11, for a total value of $171,412.49. Following the transaction, the senior vice president now owns 4,630 shares of the company’s stock, valued at approximately $1,204,309.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,199 shares of company stock valued at $572,750. 0.68% of the stock is owned by company insiders.

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.