Rockwell Automation, Inc. (NYSE:ROK) Shares Purchased by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. increased its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 10.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,713 shares of the industrial products company’s stock after purchasing an additional 169 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Rockwell Automation were worth $472,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ROK. Russell Investments Group Ltd. increased its position in shares of Rockwell Automation by 31.1% during the 4th quarter. Russell Investments Group Ltd. now owns 42,028 shares of the industrial products company’s stock worth $13,051,000 after purchasing an additional 9,961 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Rockwell Automation by 82.9% during the 4th quarter. Kestra Private Wealth Services LLC now owns 2,135 shares of the industrial products company’s stock valued at $663,000 after acquiring an additional 968 shares during the period. Victory Capital Management Inc. boosted its holdings in Rockwell Automation by 10.2% during the 4th quarter. Victory Capital Management Inc. now owns 56,876 shares of the industrial products company’s stock valued at $17,659,000 after acquiring an additional 5,276 shares during the period. New York Life Investment Management LLC boosted its holdings in Rockwell Automation by 2.7% during the 4th quarter. New York Life Investment Management LLC now owns 18,490 shares of the industrial products company’s stock valued at $5,741,000 after acquiring an additional 487 shares during the period. Finally, Great Valley Advisor Group Inc. boosted its holdings in Rockwell Automation by 18.4% during the 4th quarter. Great Valley Advisor Group Inc. now owns 1,453 shares of the industrial products company’s stock valued at $451,000 after acquiring an additional 226 shares during the period. 75.75% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Stock Up 2.1 %

Shares of NYSE ROK traded up $5.51 during midday trading on Friday, hitting $272.03. 962,045 shares of the company’s stock were exchanged, compared to its average volume of 688,876. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 0.68. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $314.80. The company has a market cap of $30.87 billion, a PE ratio of 26.59, a P/E/G ratio of 4.84 and a beta of 1.37. The firm’s fifty day simple moving average is $267.19 and its 200-day simple moving average is $272.13.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.08 by $0.63. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Rockwell Automation had a return on equity of 34.09% and a net margin of 11.56%. The firm’s revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.01 earnings per share. Research analysts predict that Rockwell Automation, Inc. will post 9.66 EPS for the current fiscal year.

Rockwell Automation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders 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 yield of 1.84%. The ex-dividend date is Monday, August 12th. Rockwell Automation’s dividend payout ratio (DPR) is 48.88%.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Tessa M. Myers sold 528 shares of Rockwell Automation stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total transaction of $133,995.84. Following the transaction, the senior vice president now owns 3,718 shares of the company’s stock, valued at $943,554.04. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Tessa M. Myers sold 248 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 4,246 shares of the company’s stock, valued at $1,088,547.02. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Tessa M. Myers sold 528 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 3,718 shares in the company, valued at approximately $943,554.04. The disclosure for this sale can be found here. Insiders have sold a total of 1,732 shares of company stock valued at $445,133 over the last quarter. Company insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lowered their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Oppenheimer lowered their target price on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Barclays lowered their target price on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Citigroup decreased their price objective on Rockwell Automation from $322.00 to $316.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, Bank of America decreased their price objective on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Rockwell Automation presently has an average rating of “Hold” and an average target price of $280.14.

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.