State of Michigan Retirement System Acquires 1,700 Shares of Rockwell Automation, Inc. (NYSE:ROK)

State of Michigan Retirement System lifted its stake in Rockwell Automation, Inc. (NYSE:ROK) by 5.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,113 shares of the industrial products company’s stock after buying an additional 1,700 shares during the period. State of Michigan Retirement System’s holdings in Rockwell Automation were worth $9,115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Rockwell Automation by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 14,048,986 shares of the industrial products company’s stock worth $4,092,891,000 after purchasing an additional 438,356 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Rockwell Automation by 951.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company’s stock worth $1,611,915,000 after buying an additional 5,006,706 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Rockwell Automation by 32.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,510,019 shares of the industrial products company’s stock valued at $439,912,000 after buying an additional 365,795 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Rockwell Automation by 6.1% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 955,574 shares of the industrial products company’s stock valued at $278,387,000 after buying an additional 54,948 shares in the last quarter. Finally, Champlain Investment Partners LLC lifted its holdings in shares of Rockwell Automation by 82.4% during the 1st quarter. Champlain Investment Partners LLC now owns 859,717 shares of the industrial products company’s stock worth $250,461,000 after acquiring an additional 388,400 shares during the period. 75.75% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Tessa M. Myers sold 528 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total value of $133,995.84. Following the transaction, the senior vice president now owns 3,718 shares in the company, valued at $943,554.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Tessa M. Myers sold 528 shares of the 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 completion of the transaction, the senior vice president now owns 3,718 shares in the company, valued at approximately $943,554.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Tessa M. Myers sold 248 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were 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 $1,088,547.02. The disclosure for this sale can be found here. Insiders have sold a total of 1,732 shares of company stock worth $445,133 in the last ninety days. Corporate insiders own 0.68% of the company’s stock.

Rockwell Automation Price Performance

Shares of ROK opened at $263.32 on Wednesday. The firm has a market cap of $30.02 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 4.71 and a beta of 1.37. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $317.74. The business’s 50 day moving average price is $266.71 and its two-hundred day moving average price is $272.49. 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 (NYSE:ROK) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.63. Rockwell Automation had a net margin of 13.19% and a return on equity of 34.83%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the firm earned $3.01 earnings per share. Rockwell Automation’s revenue was down 8.4% on a year-over-year basis. On average, equities analysts anticipate that Rockwell Automation, Inc. will post 10.07 EPS for the current year.

Rockwell Automation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $5.00 annualized dividend and a dividend yield of 1.90%. Rockwell Automation’s dividend payout ratio is 48.88%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Mizuho decreased their target price on Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Bank of America cut their target price on shares of Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Redburn Atlantic assumed coverage on shares of Rockwell Automation in a report on Monday, July 8th. They set a “neutral” rating and a $256.00 price target for the company. Wells Fargo & Company reduced their price objective on Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, Citigroup cut their price target on Rockwell Automation from $322.00 to $316.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Rockwell Automation has an average rating of “Hold” and a consensus price target of $280.14.

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.