Rockwell Automation, Inc. (NYSE:ROK) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in Rockwell Automation, Inc. (NYSE:ROK) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,849 shares of the industrial products company’s stock after acquiring an additional 745 shares during the quarter. CIBC Asset Management Inc’s holdings in Rockwell Automation were worth $5,673,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ROK. Creative Planning raised its holdings in shares of Rockwell Automation by 3.2% in the third quarter. Creative Planning now owns 25,927 shares of the industrial products company’s stock worth $6,960,000 after acquiring an additional 807 shares during the last quarter. Blue Trust Inc. increased its stake in Rockwell Automation by 89.8% in the third quarter. Blue Trust Inc. now owns 744 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 352 shares during the last quarter. Vicus Capital acquired a new position in Rockwell Automation in the third quarter valued at $304,000. Eastern Bank acquired a new position in Rockwell Automation in the third quarter valued at $266,000. Finally, Symphony Financial Ltd. Co. increased its stake in Rockwell Automation by 5.3% in the third quarter. Symphony Financial Ltd. Co. now owns 3,969 shares of the industrial products company’s stock valued at $1,074,000 after purchasing an additional 198 shares during the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, VP Scott Genereux sold 278 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $302.04, for a total transaction of $83,967.12. Following the sale, the vice president now owns 3,184 shares in the company, valued at $961,695.36. This represents a 8.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Cyril Perducat sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the sale, the senior vice president now owns 3,630 shares in the company, valued at $1,089,000. The trade was a 21.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,240 shares of company stock valued at $10,800,555. Insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Jefferies Financial Group upgraded Rockwell Automation from a “hold” rating to a “buy” rating and upped their target price for the company from $290.00 to $350.00 in a research note on Thursday, December 12th. UBS Group initiated coverage on Rockwell Automation in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 target price for the company. Stephens raised Rockwell Automation from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $275.00 to $350.00 in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their price target on Rockwell Automation from $257.00 to $290.00 and gave the company a “sell” rating in a research report on Tuesday, February 11th. Finally, Oppenheimer boosted their price target on Rockwell Automation from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $308.05.

Rockwell Automation Price Performance

Shares of NYSE ROK opened at $299.27 on Thursday. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $308.70. The business has a 50-day moving average of $286.32 and a 200-day moving average of $276.50. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.08 and a quick ratio of 0.72. The company has a market capitalization of $33.84 billion, a price-to-earnings ratio of 37.27, a PEG ratio of 3.18 and a beta of 1.35.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Monday, February 10th. The industrial products company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. On average, equities analysts anticipate that Rockwell Automation, Inc. will post 9.28 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Tuesday, February 18th will be issued a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, February 18th. Rockwell Automation’s dividend payout ratio is currently 65.26%.

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.