Oppenheimer Asset Management Inc. Reduces Position in Rockwell Automation, Inc. (NYSE:ROK)

Oppenheimer Asset Management Inc. cut its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 11.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,666 shares of the industrial products company’s stock after selling 1,485 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Rockwell Automation were worth $3,399,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ROK. Bruce G. Allen Investments LLC purchased a new position in shares of Rockwell Automation during the 4th quarter worth about $27,000. Riverview Trust Co purchased a new position in shares of Rockwell Automation during the 1st quarter worth about $28,000. Bfsg LLC purchased a new position in shares of Rockwell Automation during the 1st quarter worth about $29,000. Security National Bank purchased a new position in shares of Rockwell Automation during the 4th quarter worth about $40,000. Finally, Cooksen Wealth LLC purchased a new stake in Rockwell Automation in the 4th quarter valued at about $40,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Stock Up 3.3 %

Shares of NYSE ROK traded up $9.12 during trading hours on Friday, hitting $283.35. 1,100,988 shares of the stock were exchanged, compared to its average volume of 947,435. The company has a quick ratio of 0.74, a current ratio of 1.11 and a debt-to-equity ratio of 0.69. The company has a market cap of $32.30 billion, a PE ratio of 27.70, a PEG ratio of 4.53 and a beta of 1.37. The firm has a fifty day moving average price of $264.83 and a 200-day moving average price of $279.16. Rockwell Automation, Inc. has a 12 month low of $249.00 and a 12 month high of $348.52.

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 during the quarter, compared to analyst estimates of $2.05 billion. Rockwell Automation had a net margin of 13.19% and a return on equity of 34.83%. Rockwell Automation’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.01 EPS. On average, sell-side analysts expect that Rockwell Automation, Inc. will post 10.16 EPS for the current year.

Rockwell Automation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 12th will be issued a $1.25 dividend. The ex-dividend date is Monday, August 12th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.76%. Rockwell Automation’s dividend payout ratio is currently 48.88%.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Tessa M. Myers sold 528 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $253.78, for a total value of $133,995.84. Following the completion of the transaction, the senior vice president now owns 3,718 shares of the company’s stock, valued at $943,554.04. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Rockwell Automation news, SVP Tessa M. Myers sold 248 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $256.37, for a total value of $63,579.76. Following the completion of the transaction, the senior vice president now owns 4,246 shares of the company’s stock, valued at $1,088,547.02. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Tessa M. Myers sold 528 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total transaction of $133,995.84. Following the transaction, the senior vice president now directly owns 3,718 shares of the company’s stock, valued at approximately $943,554.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,199 shares of company stock valued at $572,750. Insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

ROK has been the subject of several research reports. Mizuho lowered their price objective on shares of Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Robert W. Baird lowered their price objective on shares of Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. Loop Capital lowered their price objective on shares of Rockwell Automation from $300.00 to $290.00 and set a “hold” rating for the company in a research report on Tuesday, May 14th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $254.00 price objective on shares of Rockwell Automation in a research report on Thursday, March 21st. Finally, Redburn Atlantic initiated coverage on shares of Rockwell Automation in a research report on Monday, July 8th. They issued a “neutral” rating and a $256.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $300.71.

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.