Penobscot Investment Management Company Inc. Trims Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Penobscot Investment Management Company Inc. lowered its position in Rockwell Automation, Inc. (NYSE:ROK) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,783 shares of the industrial products company’s stock after selling 65 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Rockwell Automation were worth $1,393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new position in shares of Rockwell Automation in the fourth quarter valued at approximately $313,000. Whittier Trust Co. increased its holdings in shares of Rockwell Automation by 4.8% in the fourth quarter. Whittier Trust Co. now owns 1,884 shares of the industrial products company’s stock valued at $585,000 after purchasing an additional 86 shares during the period. Fortitude Family Office LLC acquired a new position in shares of Rockwell Automation in the fourth quarter valued at approximately $46,000. Cedar Brook Financial Partners LLC acquired a new position in shares of Rockwell Automation in the fourth quarter valued at approximately $201,000. Finally, Accurate Wealth Management LLC increased its holdings in shares of Rockwell Automation by 5.0% in the fourth quarter. Accurate Wealth Management LLC now owns 876 shares of the industrial products company’s stock valued at $267,000 after purchasing an additional 42 shares during the period. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Insider Activity

In other news, SVP Tessa M. Myers sold 248 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $256.37, for a total value of $63,579.76. Following the sale, the senior vice president now directly owns 4,246 shares in the company, valued at $1,088,547.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Tessa M. Myers sold 248 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $256.37, for a total transaction of $63,579.76. Following the transaction, the senior vice president now directly owns 4,246 shares in the company, valued at $1,088,547.02. 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 stock in a transaction dated Monday, June 3rd. The stock was 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 in the company, valued at $1,204,309.30. The disclosure for this sale can be found here. Insiders have sold 2,199 shares of company stock worth $572,750 over the last three months. 0.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Redburn Atlantic assumed coverage on Rockwell Automation in a report on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price on the stock. Barclays dropped their price objective on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. Citigroup dropped their price objective on Rockwell Automation from $322.00 to $316.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Wells Fargo & Company dropped their price objective on Rockwell Automation from $312.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Finally, Mizuho dropped their price objective on Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. 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 company’s stock. According to data from MarketBeat.com, Rockwell Automation currently has an average rating of “Hold” and a consensus target price of $300.71.

Rockwell Automation Price Performance

Rockwell Automation stock traded down $3.58 during trading hours on Tuesday, hitting $272.15. The stock had a trading volume of 475,432 shares, compared to its average volume of 977,842. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.11 and a quick ratio of 0.74. The stock has a market capitalization of $31.03 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 4.48 and a beta of 1.37. Rockwell Automation, Inc. has a 1-year low of $249.00 and a 1-year high of $339.73. The stock’s fifty day moving average is $265.82 and its two-hundred day moving average is $277.58.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.35. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the business earned $3.01 earnings per share. The business’s revenue was down 6.6% on a year-over-year basis. As a group, analysts predict that Rockwell Automation, Inc. will post 10.12 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be given a $1.25 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $5.00 annualized dividend and a dividend yield of 1.84%. Rockwell Automation’s dividend payout ratio is currently 48.88%.

Rockwell Automation Company 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.