Kornitzer Capital Management Inc. KS Sells 10,599 Shares of Rockwell Automation, Inc. $ROK

Kornitzer Capital Management Inc. KS reduced its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 66.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,404 shares of the industrial products company’s stock after selling 10,599 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Rockwell Automation were worth $1,939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. DMC Group LLC increased its holdings in Rockwell Automation by 10.0% in the first quarter. DMC Group LLC now owns 1,481 shares of the industrial products company’s stock worth $532,000 after purchasing an additional 135 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Rockwell Automation by 48.1% during the 1st quarter. Hsbc Holdings PLC now owns 406,586 shares of the industrial products company’s stock worth $145,713,000 after buying an additional 132,074 shares during the period. Kestra Advisory Services LLC increased its stake in shares of Rockwell Automation by 3.2% in the 1st quarter. Kestra Advisory Services LLC now owns 28,153 shares of the industrial products company’s stock valued at $10,103,000 after acquiring an additional 869 shares in the last quarter. Granite Investment Partners LLC lifted its position in shares of Rockwell Automation by 3.1% during the 1st quarter. Granite Investment Partners LLC now owns 67,451 shares of the industrial products company’s stock valued at $24,207,000 after acquiring an additional 2,014 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Rockwell Automation by 0.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 981,885 shares of the industrial products company’s stock worth $352,379,000 after acquiring an additional 3,886 shares in the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Stock Performance

Shares of Rockwell Automation stock opened at $472.91 on Monday. Rockwell Automation, Inc. has a 52 week low of $305.44 and a 52 week high of $497.36. The company has a quick ratio of 0.76, a current ratio of 1.09 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average price of $458.98 and a 200-day moving average price of $417.50. The company has a market cap of $52.62 billion, a PE ratio of 49.16, a price-to-earnings-growth ratio of 3.01 and a beta of 1.54.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Tuesday, May 5th. The industrial products company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.42. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.16 billion. Rockwell Automation had a return on equity of 37.54% and a net margin of 12.36%.Rockwell Automation’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.45 earnings per share. Rockwell Automation has set its FY 2026 guidance at 12.500-13.100 EPS. Equities analysts anticipate that Rockwell Automation, Inc. will post 13.06 earnings per share for the current fiscal year.

Rockwell Automation announced that its Board of Directors has approved a stock repurchase program on Tuesday, June 9th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Rockwell Automation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, August 17th. Rockwell Automation’s dividend payout ratio is presently 57.38%.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, SVP Christopher Nardecchia sold 2,538 shares of Rockwell Automation stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $446.43, for a total transaction of $1,133,039.34. Following the transaction, the senior vice president owned 14,232 shares of the company’s stock, valued at $6,353,591.76. This trade represents a 15.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John M. Miller sold 1,054 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $426.02, for a total value of $449,025.08. Following the sale, the vice president directly owned 5,615 shares of the company’s stock, valued at $2,392,102.30. The trade was a 15.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 9,361 shares of company stock worth $4,189,886. Company insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

ROK has been the topic of several research reports. Citigroup upped their price objective on shares of Rockwell Automation from $466.00 to $500.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wells Fargo & Company increased their price target on Rockwell Automation from $360.00 to $440.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Mizuho set a $445.00 price objective on Rockwell Automation in a report on Wednesday, May 6th. BNP Paribas Exane increased their target price on Rockwell Automation from $495.00 to $515.00 in a report on Wednesday, May 6th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $525.00 price target on shares of Rockwell Automation in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $466.71.

About Rockwell Automation

Rockwell Automation is a global industrial automation and digital transformation company headquartered in Milwaukee, Wisconsin. The firm designs, manufactures and supports control systems, industrial control hardware and software, and related services that help manufacturers and industrial operators automate processes, improve productivity and enable data-driven decision making. Rockwell traces its heritage to the Allen-Bradley and Rockwell automation businesses and positions itself as a provider of integrated automation solutions across discrete and process industries.

The company’s product portfolio includes programmable logic controllers (PLCs), human-machine interfaces (HMIs), variable frequency drives, sensors, safety components and other industrial control hardware, often marketed under the Allen-Bradley brand.