State of Alaska Department of Revenue Sells 1,160 Shares of Rockwell Automation, Inc. (NYSE:ROK)

State of Alaska Department of Revenue decreased its stake in Rockwell Automation, Inc. (NYSE:ROK) by 6.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,729 shares of the industrial products company’s stock after selling 1,160 shares during the quarter. State of Alaska Department of Revenue’s holdings in Rockwell Automation were worth $4,582,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ROK. Iyo Bank Ltd. bought a new position in shares of Rockwell Automation during the first quarter worth about $1,605,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Rockwell Automation by 6.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 955,574 shares of the industrial products company’s stock worth $278,387,000 after acquiring an additional 54,948 shares during the period. Cullinan Associates Inc. acquired a new stake in Rockwell Automation during the 1st quarter worth approximately $437,000. Claro Advisors LLC lifted its holdings in Rockwell Automation by 4.6% during the 1st quarter. Claro Advisors LLC now owns 4,058 shares of the industrial products company’s stock worth $1,182,000 after purchasing an additional 179 shares during the last quarter. Finally, Diversified Trust Co lifted its holdings in Rockwell Automation by 61.3% during the 1st quarter. Diversified Trust Co now owns 9,761 shares of the industrial products company’s stock worth $2,844,000 after purchasing an additional 3,708 shares during the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Barclays lowered 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. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $254.00 price target on shares of Rockwell Automation in a report on Thursday, March 21st. Loop Capital dropped their target price on Rockwell Automation from $300.00 to $290.00 and set a “hold” rating on the stock in a report on Tuesday, May 14th. Wells Fargo & Company dropped their target price on Rockwell Automation from $320.00 to $312.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Finally, Citigroup dropped their price target on Rockwell Automation from $322.00 to $316.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Rockwell Automation has an average rating of “Hold” and a consensus price target of $305.08.

Rockwell Automation Trading Up 0.5 %

Shares of Rockwell Automation stock opened at $266.34 on Friday. The firm has a market cap of $30.36 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 4.40 and a beta of 1.37. The business has a 50-day moving average price of $265.68 and a 200-day moving average price of $280.85. The company has a quick ratio of 0.74, a current ratio of 1.11 and a debt-to-equity ratio of 0.69. Rockwell Automation, Inc. has a twelve month low of $249.00 and a twelve month high of $348.52.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.35. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.05 billion. Rockwell Automation had a net margin of 13.19% and a return on equity of 34.83%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.01 EPS. Equities research analysts anticipate that Rockwell Automation, Inc. will post 10.15 EPS for the current fiscal year.

Rockwell Automation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Monday, August 12th. Rockwell Automation’s dividend payout ratio is presently 48.88%.

Insider Activity at Rockwell Automation

In related news, SVP Cyril Perducat sold 659 shares of Rockwell Automation stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $260.11, for a total transaction of $171,412.49. Following the transaction, the senior vice president now directly owns 4,630 shares of the company’s stock, valued at $1,204,309.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Rockwell Automation news, SVP Cyril Perducat sold 659 shares of Rockwell Automation 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 transaction, the senior vice president now directly owns 4,630 shares of the company’s stock, valued at $1,204,309.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John M. Miller sold 467 shares of Rockwell Automation stock in a transaction 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 owns 4,800 shares of the company’s stock, 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 over the last ninety days. 0.68% of the stock is owned by company insiders.

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.