Allspring Global Investments Holdings LLC Has $1.82 Million Position in Rockwell Automation, Inc. (NYSE:ROK)

Allspring Global Investments Holdings LLC lowered its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 67.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 6,229 shares of the industrial products company’s stock after selling 12,870 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Rockwell Automation were worth $1,815,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Patrick M Sweeney & Associates Inc. bought a new stake in Rockwell Automation in the fourth quarter valued at about $380,000. Sequoia Financial Advisors LLC increased its stake in Rockwell Automation by 676.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 32,156 shares of the industrial products company’s stock valued at $9,984,000 after acquiring an additional 28,016 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in Rockwell Automation by 0.9% in the third quarter. Mercer Global Advisors Inc. ADV now owns 11,423 shares of the industrial products company’s stock valued at $3,266,000 after acquiring an additional 97 shares during the period. Carnegie Capital Asset Management LLC increased its stake in Rockwell Automation by 5.0% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 85,551 shares of the industrial products company’s stock valued at $26,562,000 after acquiring an additional 4,093 shares during the period. Finally, Lincoln National Corp increased its stake in Rockwell Automation by 76.5% in the fourth quarter. Lincoln National Corp now owns 3,111 shares of the industrial products company’s stock valued at $966,000 after acquiring an additional 1,348 shares during the period. Institutional investors and hedge funds own 75.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays lowered their target price on shares of Rockwell Automation from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 4th. Robert W. Baird decreased their price objective on shares of Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Berenberg Bank reaffirmed a “hold” rating and set a $290.00 price objective (down from $330.00) on shares of Rockwell Automation in a research note on Wednesday, March 6th. Loop Capital decreased their price objective on shares of Rockwell Automation from $300.00 to $290.00 and set a “hold” rating on the stock in a research note on Tuesday, May 14th. Finally, Wells Fargo & Company decreased their price objective on shares of Rockwell Automation from $320.00 to $312.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Rockwell Automation currently has an average rating of “Hold” and a consensus price target of $305.08.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, VP John M. Miller sold 467 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $273.27, for a total value of $127,617.09. Following the transaction, the vice president now directly owns 4,800 shares of the company’s stock, valued at approximately $1,311,696. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Rockwell Automation news, 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 transaction of $133,995.84. Following the sale, the senior vice president now directly owns 3,718 shares of the company’s stock, valued at approximately $943,554.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John M. Miller sold 467 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $273.27, for a total transaction of $127,617.09. Following the sale, the vice president now directly owns 4,800 shares in the company, valued at $1,311,696. The disclosure for this sale can be found here. Insiders have sold a total of 2,199 shares of company stock valued at $572,750 in the last ninety days. 0.68% of the stock is currently owned by company insiders.

Rockwell Automation Stock Performance

NYSE ROK opened at $264.90 on Wednesday. The firm has a 50-day moving average of $266.10 and a 200-day moving average of $281.23. 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 stock has a market cap of $30.20 billion, a PE ratio of 25.89, a P/E/G ratio of 4.55 and a beta of 1.37. Rockwell Automation, Inc. has a 52-week low of $249.00 and a 52-week high of $348.52.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.35. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Rockwell Automation had a net margin of 13.19% and a return on equity of 34.83%. Rockwell Automation’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.01 EPS. On average, sell-side analysts anticipate that Rockwell Automation, Inc. will post 10.15 EPS for the current year.

Rockwell Automation Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 12th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.89%. The ex-dividend date is Monday, August 12th. Rockwell Automation’s dividend payout ratio (DPR) is 48.88%.

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.