Cornerstone Wealth Group LLC Increases Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Cornerstone Wealth Group LLC increased its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 9.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 735 shares of the industrial products company’s stock after purchasing an additional 62 shares during the period. Cornerstone Wealth Group LLC’s holdings in Rockwell Automation were worth $214,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Foguth Wealth Management LLC. purchased a new stake in shares of Rockwell Automation in the first quarter valued at $242,000. Symphony Financial Ltd. Co. grew its position in shares of Rockwell Automation by 5.6% in the first quarter. Symphony Financial Ltd. Co. now owns 2,814 shares of the industrial products company’s stock valued at $820,000 after purchasing an additional 149 shares during the period. Trivant Custom Portfolio Group LLC purchased a new stake in shares of Rockwell Automation in the first quarter valued at $1,599,000. WoodTrust Financial Corp boosted its holdings in Rockwell Automation by 8.5% in the first quarter. WoodTrust Financial Corp now owns 6,448 shares of the industrial products company’s stock valued at $1,878,000 after acquiring an additional 503 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC boosted its holdings in Rockwell Automation by 23.6% in the first quarter. S.E.E.D. Planning Group LLC now owns 1,847 shares of the industrial products company’s stock valued at $538,000 after acquiring an additional 353 shares during the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Up 2.8 %

Shares of NYSE:ROK traded up $7.62 during trading on Friday, hitting $275.28. The company’s stock had a trading volume of 4,325,877 shares, compared to its average volume of 862,749. 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, Inc. has a fifty-two week low of $249.00 and a fifty-two week high of $348.52. The stock’s 50-day moving average price is $266.26 and its two-hundred day moving average price is $281.59. The company has a market capitalization of $31.38 billion, a PE ratio of 26.91, a PEG ratio of 4.30 and a beta of 1.37.

Rockwell Automation (NYSE:ROK) last released its quarterly 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 business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the firm posted $3.01 earnings per share. The company’s revenue was down 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that Rockwell Automation, Inc. will post 10.15 EPS for the current year.

Rockwell Automation Dividend Announcement

The firm 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. This represents a $5.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Monday, August 12th. Rockwell Automation’s dividend payout ratio (DPR) is 48.88%.

Analyst Ratings Changes

A number of research analysts recently weighed in on ROK shares. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $254.00 target price on shares of Rockwell Automation in a report on Thursday, March 21st. Robert W. Baird reduced their target price on Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Mizuho reduced their target price on Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Berenberg Bank reiterated a “hold” rating and issued a $290.00 target price (down previously from $330.00) on shares of Rockwell Automation in a report on Wednesday, March 6th. Finally, Barclays reduced their target price on Rockwell Automation from $260.00 to $250.00 and set an “underweight” rating on the stock in a report on Tuesday, June 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $305.08.

Insider Buying and Selling

In related news, SVP Tessa M. Myers sold 528 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which is available at this hyperlink. In related news, VP John M. Miller sold 467 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was 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 directly owns 4,800 shares of the company’s stock, valued at $1,311,696. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Tessa M. Myers sold 528 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $253.78, for a total value of $133,995.84. Following the completion of the sale, the senior vice president now directly owns 3,718 shares of the company’s stock, valued at $943,554.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,199 shares of company stock worth $572,750. 0.68% of the stock is currently owned by corporate 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.