Axxcess Wealth Management LLC Has $1.72 Million Position in Rockwell Automation, Inc. (NYSE:ROK)

Axxcess Wealth Management LLC lifted its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 26.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,888 shares of the industrial products company’s stock after purchasing an additional 1,225 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Rockwell Automation were worth $1,715,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Patrick M Sweeney & Associates Inc. acquired a new stake in shares of Rockwell Automation during the fourth quarter worth about $380,000. Sequoia Financial Advisors LLC raised its position in Rockwell Automation by 676.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 32,156 shares of the industrial products company’s stock valued at $9,984,000 after buying an additional 28,016 shares during the last quarter. Carnegie Capital Asset Management LLC raised its position in Rockwell Automation by 5.0% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 85,551 shares of the industrial products company’s stock valued at $26,562,000 after buying an additional 4,093 shares during the last quarter. Lincoln National Corp raised its position in Rockwell Automation by 76.5% in the 4th quarter. Lincoln National Corp now owns 3,111 shares of the industrial products company’s stock valued at $966,000 after buying an additional 1,348 shares during the last quarter. Finally, Norden Group LLC acquired a new stake in Rockwell Automation in the 1st quarter valued at approximately $2,003,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Wall Street Analysts Forecast Growth

ROK has been the topic of a number of recent research reports. Loop Capital dropped their target price on Rockwell Automation from $300.00 to $290.00 and set a “hold” rating on the stock in a research report on Tuesday, May 14th. Wells Fargo & Company dropped their target price on Rockwell Automation from $312.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Redburn Atlantic initiated coverage on Rockwell Automation in a research report on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price on the stock. Citigroup dropped their target price on Rockwell Automation from $322.00 to $316.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Finally, Robert W. Baird lowered their price target on Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating on the stock in a research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $300.71.

Rockwell Automation Stock Performance

Shares of NYSE ROK traded up $6.04 during midday trading on Friday, hitting $277.04. 689,228 shares of the company’s stock were exchanged, compared to its average volume of 873,731. The company has a quick ratio of 0.74, a current ratio of 1.11 and a debt-to-equity ratio of 0.69. Rockwell Automation, Inc. has a 12 month low of $249.00 and a 12 month high of $339.65. The company’s 50 day moving average price is $265.75 and its 200 day moving average price is $277.01. The firm has a market capitalization of $31.58 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 4.82 and a beta of 1.37.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, May 8th. The industrial products company reported $2.50 EPS for the quarter, topping 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 company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the company posted $3.01 EPS. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, analysts predict that Rockwell Automation, Inc. will post 10.07 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 12th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $5.00 annualized dividend and a yield of 1.80%. Rockwell Automation’s dividend payout ratio (DPR) is presently 48.88%.

Insider Activity at Rockwell Automation

In related news, SVP Tessa M. Myers sold 248 shares of the business’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 completion of the sale, the senior vice president now directly owns 4,246 shares in the company, valued at approximately $1,088,547.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Tessa M. Myers sold 248 shares of the business’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 completion of the sale, the senior vice president now directly owns 4,246 shares in the company, valued at approximately $1,088,547.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John M. Miller sold 467 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $273.27, for a total value of $127,617.09. Following the completion of the sale, the vice president now owns 4,800 shares of the company’s stock, valued at $1,311,696. The disclosure for this sale can be found here. Insiders sold 2,199 shares of company stock worth $572,750 in the last ninety days. 0.68% of the stock is owned by company 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.