Carret Asset Management LLC Sells 3,040 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Carret Asset Management LLC lessened its position in Rockwell Automation, Inc. (NYSE:ROK) by 49.1% during the first quarter, Holdings Channel reports. The fund owned 3,150 shares of the industrial products company’s stock after selling 3,040 shares during the period. Carret Asset Management LLC’s holdings in Rockwell Automation were worth $918,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new stake in Rockwell Automation in the fourth quarter worth about $27,000. Riverview Trust Co purchased a new stake in Rockwell Automation in the first quarter worth about $28,000. Security National Bank purchased a new stake in Rockwell Automation in the fourth quarter worth about $40,000. Cooksen Wealth LLC purchased a new stake in Rockwell Automation in the fourth quarter worth about $40,000. Finally, Webster Bank N. A. purchased a new position in shares of Rockwell Automation during the first quarter valued at approximately $44,000. Institutional investors own 75.75% of the company’s stock.

Analyst Upgrades and Downgrades

ROK has been the subject of several recent research reports. Citigroup lowered their target price on shares of Rockwell Automation from $322.00 to $316.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Berenberg Bank reiterated a “hold” rating and set a $290.00 target price (down from $330.00) on shares of Rockwell Automation in a report on Wednesday, March 6th. Wells Fargo & Company lowered their target price on shares of Rockwell Automation from $320.00 to $312.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Loop Capital lowered their target price on shares of Rockwell Automation from $300.00 to $290.00 and set a “hold” rating for the company in a report on Tuesday, May 14th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $254.00 target price on shares of Rockwell Automation in a report on Thursday, March 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $305.08.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Cyril Perducat sold 659 shares of the business’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 sale, the senior vice president now owns 4,630 shares in the company, valued at approximately $1,204,309.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Cyril Perducat sold 659 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $260.11, for a total value of $171,412.49. Following the sale, the senior vice president now directly owns 4,630 shares in the company, valued at approximately $1,204,309.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Tessa M. Myers sold 528 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total transaction of $133,995.84. Following the completion of the sale, the senior vice president now owns 3,718 shares in the company, valued at $943,554.04. The disclosure for this sale can be found here. Insiders have sold a total of 2,199 shares of company stock worth $572,750 in the last 90 days. 0.68% of the stock is currently owned by corporate insiders.

Rockwell Automation Stock Up 0.5 %

ROK opened at $266.34 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.11. Rockwell Automation, Inc. has a fifty-two week low of $249.00 and a fifty-two week high of $348.52. The firm’s fifty day moving average is $265.87 and its 200 day moving average is $280.95. The stock has a market cap of $30.36 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 4.38 and a beta of 1.37.

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

Rockwell Automation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 12th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend 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.