Banque Pictet & Cie SA Purchases 2,425 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Banque Pictet & Cie SA grew its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 9.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,807 shares of the industrial products company’s stock after buying an additional 2,425 shares during the quarter. Banque Pictet & Cie SA’s holdings in Rockwell Automation were worth $7,930,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. L. Roy Papp & Associates LLP grew its stake in Rockwell Automation by 2.6% during the second quarter. L. Roy Papp & Associates LLP now owns 16,753 shares of the industrial products company’s stock worth $4,612,000 after buying an additional 426 shares during the last quarter. &PARTNERS bought a new stake in Rockwell Automation during the second quarter worth about $285,000. Cultivar Capital Inc. bought a new stake in Rockwell Automation during the second quarter worth about $46,000. 1620 Investment Advisors Inc. acquired a new position in shares of Rockwell Automation during the second quarter worth approximately $180,000. Finally, American National Bank lifted its position in shares of Rockwell Automation by 82.7% during the second quarter. American National Bank now owns 1,615 shares of the industrial products company’s stock worth $445,000 after purchasing an additional 731 shares in the last quarter. 75.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Loop Capital reduced their target price on shares of Rockwell Automation from $300.00 to $290.00 and set a “hold” rating on the stock in a research report on Tuesday, May 14th. JPMorgan Chase & Co. reduced their target price on shares of Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Bank of America reduced their target price on shares of Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Redburn Atlantic began coverage on shares of Rockwell Automation in a report on Monday, July 8th. They issued a “neutral” rating and a $256.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $280.14.

Insider Transactions at Rockwell Automation

In other news, SVP Tessa M. Myers sold 248 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $256.37, for a total transaction of $63,579.76. Following the completion of the sale, the senior vice president now owns 4,246 shares of the company’s stock, valued at $1,088,547.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Cyril Perducat sold 659 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $260.11, for a total value of $171,412.49. Following the completion of the transaction, the senior vice president now owns 4,630 shares of the company’s stock, valued at $1,204,309.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Tessa M. Myers sold 248 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $256.37, for a total transaction of $63,579.76. Following the completion of the transaction, the senior vice president now directly owns 4,246 shares of the company’s stock, valued at approximately $1,088,547.02. The disclosure for this sale can be found here. Insiders sold 1,732 shares of company stock valued at $445,133 over the last quarter. Corporate insiders own 0.68% of the company’s stock.

Rockwell Automation Trading Up 3.0 %

NYSE:ROK traded up $7.95 during trading hours on Friday, hitting $270.98. The stock had a trading volume of 512,920 shares, compared to its average volume of 945,347. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $317.74. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.11. The company has a market cap of $30.89 billion, a price-to-earnings ratio of 26.49, a P/E/G ratio of 4.71 and a beta of 1.37. The business’s 50 day moving average is $266.52 and its 200-day moving average is $272.54.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.08 by $0.63. Rockwell Automation had a net margin of 13.19% and a return on equity of 34.83%. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $3.01 earnings per share. The business’s quarterly revenue was down 8.4% on a year-over-year basis. Sell-side analysts anticipate that Rockwell Automation, Inc. will post 10.07 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Monday, August 12th. Rockwell Automation’s dividend payout ratio is 48.88%.

Rockwell Automation Company 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.