Rockwell Automation, Inc. (NYSE:ROK) Holdings Lowered by Riverbridge Partners LLC

Riverbridge Partners LLC trimmed its position in Rockwell Automation, Inc. (NYSE:ROK) by 8.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,840 shares of the industrial products company’s stock after selling 645 shares during the quarter. Riverbridge Partners LLC’s holdings in Rockwell Automation were worth $1,955,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ROK. Richardson Financial Services Inc. raised its stake in Rockwell Automation by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 48 shares during the period. Ashton Thomas Securities LLC acquired a new position in Rockwell Automation during the third quarter valued at $26,000. West Oak Capital LLC lifted its stake in 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 acquiring an additional 82 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in Rockwell Automation during the 3rd quarter worth about $34,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Rockwell Automation during the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Down 0.6 %

ROK stock opened at $289.09 on Thursday. The business’s 50-day simple moving average is $288.32 and its 200 day simple moving average is $274.71. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. The company has a market cap of $32.68 billion, a PE ratio of 34.91, a price-to-earnings-growth ratio of 3.13 and a beta of 1.36. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $307.71.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. Rockwell Automation’s quarterly revenue was down 20.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.64 earnings per share. On average, research analysts anticipate that Rockwell Automation, Inc. will post 9.32 earnings per share for the current year.

Rockwell Automation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.81%. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date was Monday, November 18th. Rockwell Automation’s dividend payout ratio (DPR) is presently 63.29%.

Insider Activity at Rockwell Automation

In related news, VP John M. Miller sold 467 shares of Rockwell Automation stock in a transaction dated 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. This trade represents a 8.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Isaac Woods sold 895 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was 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 approximately $329,114.56. The trade was a 42.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,436 shares of company stock valued at $10,832,549 over the last quarter. 0.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ROK. JPMorgan Chase & Co. cut their price target on Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating for the company in a research note on Wednesday, January 15th. Jefferies Financial Group raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and raised their price objective for the company from $290.00 to $350.00 in a research report on Thursday, December 12th. Wells Fargo & Company boosted their target price on shares of Rockwell Automation from $293.00 to $305.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Barclays cut their price target on shares of Rockwell Automation from $290.00 to $285.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Finally, BNP Paribas started coverage on shares of Rockwell Automation in a report on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $304.16.

About Rockwell Automation

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.