Rockwell Automation, Inc. (NYSE:ROK) Shares Bought by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lifted its position in Rockwell Automation, Inc. (NYSE:ROK) by 5.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 203,830 shares of the industrial products company’s stock after acquiring an additional 9,645 shares during the period. TimesSquare Capital Management LLC owned about 0.18% of Rockwell Automation worth $59,382,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC grew its position in Rockwell Automation by 33,600.1% during the fourth quarter. International Assets Investment Management LLC now owns 295,213 shares of the industrial products company’s stock valued at $91,658,000 after purchasing an additional 294,337 shares in the last quarter. Public Employees Retirement Association of Colorado grew its position in Rockwell Automation by 2,932.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 246,217 shares of the industrial products company’s stock valued at $76,445,000 after purchasing an additional 238,097 shares in the last quarter. DAVENPORT & Co LLC purchased a new position in Rockwell Automation during the first quarter valued at approximately $64,635,000. Kodai Capital Management LP purchased a new position in Rockwell Automation during the fourth quarter valued at approximately $43,222,000. Finally, DekaBank Deutsche Girozentrale grew its position in Rockwell Automation by 27.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 420,099 shares of the industrial products company’s stock valued at $129,247,000 after purchasing an additional 89,207 shares in the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ROK has been the topic of a number of research analyst reports. Redburn Atlantic initiated coverage on shares of Rockwell Automation in a research report on Monday, July 8th. They set a “neutral” rating and a $256.00 price objective on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $254.00 price objective on shares of Rockwell Automation in a research report on Thursday, March 21st. Barclays reduced their target price on shares of Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Wednesday. Wells Fargo & Company reduced their target price on shares of Rockwell Automation from $312.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Loop Capital reduced their target price on shares of Rockwell Automation from $300.00 to $290.00 and set a “hold” rating for the company in a research note on Tuesday, May 14th. Two 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 currently has a consensus rating of “Hold” and a consensus target price of $300.71.

Rockwell Automation Stock Performance

Shares of Rockwell Automation stock traded up $9.12 on Friday, reaching $283.35. The stock had a trading volume of 1,100,988 shares, compared to its average volume of 947,435. The business’s 50-day moving average price is $264.83 and its two-hundred day moving average price is $279.16. 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 fifty-two week low of $249.00 and a fifty-two week high of $348.52. The stock has a market cap of $32.30 billion, a P/E ratio of 27.70, a price-to-earnings-growth ratio of 4.53 and a beta of 1.37.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, May 8th. The industrial products company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.15 by $0.35. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Rockwell Automation had a net margin of 13.19% and a return on equity of 34.83%. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.01 EPS. On average, sell-side analysts forecast that Rockwell Automation, Inc. will post 10.16 EPS for the current year.

Rockwell Automation Dividend Announcement

The business 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 1.76%. The ex-dividend date is Monday, August 12th. Rockwell Automation’s payout ratio is currently 48.88%.

Insider Activity at Rockwell Automation

In related news, VP John M. Miller sold 467 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were 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 directly owns 4,800 shares in the company, valued at approximately $1,311,696. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Rockwell Automation news, SVP Tessa M. Myers sold 528 shares of the business’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 sale, the senior vice president now owns 3,718 shares of the company’s stock, valued at approximately $943,554.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP John M. Miller sold 467 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $273.27, for a total transaction of $127,617.09. Following the completion of the sale, the vice president now directly owns 4,800 shares in the company, valued at approximately $1,311,696. The disclosure for this sale can be found here. Insiders sold a total of 2,199 shares of company stock worth $572,750 in the last ninety days. 0.68% of the stock is currently owned by insiders.

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.