Wedmont Private Capital Boosts Stake in Rockwell Automation, Inc. (NYSE:ROK)

Wedmont Private Capital lifted its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 7.9% during the first quarter, Holdings Channel reports. The institutional investor owned 3,645 shares of the industrial products company’s stock after purchasing an additional 268 shares during the quarter. Wedmont Private Capital’s holdings in Rockwell Automation were worth $1,046,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Provence Wealth Management Group acquired a new position in Rockwell Automation during the third quarter worth $27,000. Bruce G. Allen Investments LLC acquired a new position in Rockwell Automation during the fourth quarter worth $27,000. Security National Bank acquired a new position in Rockwell Automation during the fourth quarter worth $40,000. Cooksen Wealth LLC acquired a new position in Rockwell Automation during the fourth quarter worth $40,000. Finally, Fortitude Family Office LLC acquired a new position in Rockwell Automation during the fourth quarter worth $46,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Price Performance

Shares of NYSE ROK opened at $258.68 on Friday. Rockwell Automation, Inc. has a 1-year low of $249.00 and a 1-year high of $348.52. The business has a 50-day moving average of $267.22 and a 200-day moving average of $281.93. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.11 and a quick ratio of 0.74. The company has a market capitalization of $29.49 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 4.07 and a beta of 1.37.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share 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 company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the business earned $3.01 earnings per share. The company’s revenue was down 6.6% compared to the same quarter last year. On average, equities analysts anticipate that Rockwell Automation, Inc. will post 10.14 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Monday, August 12th. Rockwell Automation’s payout ratio is 48.88%.

Insider Transactions at Rockwell Automation

In other news, VP John M. Miller sold 467 shares of the company’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 owns 4,800 shares of the company’s stock, valued at $1,311,696. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Tessa M. Myers sold 248 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,088,547.02. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the vice president now owns 4,800 shares in the company, valued at approximately $1,311,696. The disclosure for this sale can be found here. Insiders sold 2,199 shares of company stock valued at $572,750 over the last quarter. Company insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup reduced their price objective on Rockwell Automation from $322.00 to $316.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Loop Capital cut their price target on Rockwell Automation from $300.00 to $290.00 and set a “hold” rating for the company in a report on Tuesday, May 14th. Mizuho cut their price target on Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Barclays cut their price target on Rockwell Automation from $260.00 to $250.00 and set an “underweight” rating for the company in a report on Tuesday, June 4th. Finally, Robert W. Baird cut their price target on Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $307.21.

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.