Cambridge Trust Co. Reduces Position in Rockwell Automation, Inc. (NYSE:ROK)

Cambridge Trust Co. decreased its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,315 shares of the industrial products company’s stock after selling 80 shares during the period. Cambridge Trust Co.’s holdings in Rockwell Automation were worth $383,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Pathway Financial Advisers LLC acquired a new stake in shares of Rockwell Automation during the first quarter worth $26,000. Cetera Advisors LLC boosted its holdings in Rockwell Automation by 30.3% in the first quarter. Cetera Advisors LLC now owns 7,122 shares of the industrial products company’s stock valued at $2,075,000 after acquiring an additional 1,658 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Rockwell Automation by 336.5% in the first quarter. Cetera Investment Advisers now owns 27,307 shares of the industrial products company’s stock valued at $7,956,000 after acquiring an additional 21,051 shares during the last quarter. Swedbank AB acquired a new position in Rockwell Automation in the first quarter valued at $118,345,000. Finally, Wahed Invest LLC boosted its holdings in Rockwell Automation by 14.7% in the first quarter. Wahed Invest LLC now owns 2,247 shares of the industrial products company’s stock valued at $655,000 after acquiring an additional 288 shares during the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Stock Down 4.2 %

Shares of NYSE ROK traded down $11.15 during midday trading on Friday, reaching $253.47. 831,550 shares of the company’s stock were exchanged, compared to its average volume of 723,806. Rockwell Automation, Inc. has a 52-week low of $249.00 and a 52-week high of $317.74. The stock has a market capitalization of $28.90 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 4.71 and a beta of 1.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.11. The business’s fifty day moving average price is $265.87 and its two-hundred day moving average price is $275.79.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.35. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.05 billion. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.01 earnings per share. Analysts forecast that Rockwell Automation, Inc. will post 10.07 EPS for the current year.

Rockwell Automation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders 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 1.97%. The ex-dividend date of this dividend is Monday, August 12th. Rockwell Automation’s payout ratio is currently 48.88%.

Analyst Upgrades and Downgrades

ROK has been the topic of a number of research analyst reports. Robert W. Baird reduced 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. Mizuho reduced their target price on Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Redburn Atlantic started 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. Wells Fargo & Company reduced their price objective on Rockwell Automation from $312.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Finally, Loop Capital reduced their price objective on Rockwell Automation from $300.00 to $290.00 and set a “hold” rating on the stock in a research note on Tuesday, May 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $294.17.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, SVP Tessa M. Myers sold 248 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $256.37, for a total transaction of $63,579.76. Following the sale, the senior vice president now owns 4,246 shares in the company, valued at $1,088,547.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Tessa M. Myers sold 248 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $256.37, for a total transaction of $63,579.76. Following the sale, the senior vice president now directly owns 4,246 shares in the company, valued at approximately $1,088,547.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John M. Miller sold 467 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $273.27, for a total value of $127,617.09. Following the sale, the vice president now owns 4,800 shares in the company, valued at $1,311,696. The disclosure for this sale can be found here. Insiders have sold 2,199 shares of company stock worth $572,750 over the last quarter. 0.68% of the stock is owned by corporate 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.