Myriad Asset Management US LP Invests $1.65 Million in Rockwell Automation, Inc. (NYSE:ROK)

Myriad Asset Management US LP acquired a new position in Rockwell Automation, Inc. (NYSE:ROK) during the 4th quarter, Holdings Channel reports. The firm acquired 5,778 shares of the industrial products company’s stock, valued at approximately $1,651,000. Rockwell Automation accounts for 1.1% of Myriad Asset Management US LP’s holdings, making the stock its 26th largest holding.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of Rockwell Automation in the 3rd quarter worth approximately $26,000. Richardson Financial Services Inc. lifted its stake in shares of Rockwell Automation by 100.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 48 shares during the period. West Oak Capital LLC lifted its stake in shares of Rockwell Automation by 455.6% in the 4th quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 82 shares during the period. Darwin Wealth Management LLC purchased a new stake in Rockwell Automation in the 3rd quarter worth approximately $34,000. Finally, Asset Planning Inc purchased a new stake in Rockwell Automation in the 4th quarter worth approximately $49,000. Institutional investors own 75.75% of the company’s stock.

Wall Street Analysts Forecast Growth

ROK has been the subject of several analyst reports. Jefferies Financial Group raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and increased their target price for the stock from $290.00 to $350.00 in a report on Thursday, December 12th. UBS Group initiated coverage on shares of Rockwell Automation in a report on Wednesday, November 13th. They issued a “neutral” rating and a $313.00 target price for the company. Citigroup increased their target price on shares of Rockwell Automation from $345.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday. Oppenheimer increased their target price on shares of Rockwell Automation from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Morgan Stanley increased their price objective on shares of Rockwell Automation from $335.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday. 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’s stock. According to MarketBeat, Rockwell Automation currently has an average rating of “Hold” and an average target price of $308.05.

Insiders Place Their Bets

In other Rockwell Automation news, VP John M. Miller sold 467 shares of Rockwell Automation stock in a transaction on Monday, November 18th. The shares were sold at an average price of $284.07, for a total transaction of $132,660.69. Following the completion of the transaction, the vice president now directly owns 4,800 shares of the company’s stock, valued at $1,363,536. The trade was a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Isaac Woods sold 895 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $274.72, for a total transaction of $245,874.40. Following the sale, the vice president now directly owns 1,198 shares of the company’s stock, valued at $329,114.56. This represents a 42.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,707 shares of company stock valued at $10,933,215 over the last three months. 0.68% of the stock is owned by company insiders.

Rockwell Automation Trading Down 1.3 %

Shares of ROK opened at $294.81 on Friday. The company’s fifty day moving average is $286.26 and its 200 day moving average is $275.81. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $308.70. The stock has a market capitalization of $33.32 billion, a PE ratio of 35.61, a P/E/G ratio of 2.89 and a beta of 1.35. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Monday, February 10th. The industrial products company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.61 by $0.22. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. Sell-side analysts expect that Rockwell Automation, Inc. will post 9.32 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, February 18th. Rockwell Automation’s payout ratio is 63.29%.

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.