Assenagon Asset Management S.A. Buys 29,105 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Assenagon Asset Management S.A. raised its stake in Rockwell Automation, Inc. (NYSE:ROK) by 357.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,239 shares of the industrial products company’s stock after purchasing an additional 29,105 shares during the period. Assenagon Asset Management S.A.’s holdings in Rockwell Automation were worth $10,643,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Gladstone Institutional Advisory LLC lifted its stake in shares of Rockwell Automation by 33.2% in the third quarter. Gladstone Institutional Advisory LLC now owns 1,377 shares of the industrial products company’s stock valued at $370,000 after buying an additional 343 shares during the period. GSA Capital Partners LLP acquired a new position in Rockwell Automation in the 3rd quarter valued at approximately $912,000. Nomura Asset Management Co. Ltd. lifted its position in shares of Rockwell Automation by 6.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 34,209 shares of the industrial products company’s stock worth $9,184,000 after acquiring an additional 1,928 shares during the period. Vicus Capital acquired a new stake in shares of Rockwell Automation during the 3rd quarter worth approximately $304,000. Finally, Nordea Investment Management AB increased its position in shares of Rockwell Automation by 5.9% during the fourth quarter. Nordea Investment Management AB now owns 462,537 shares of the industrial products company’s stock valued at $132,554,000 after purchasing an additional 25,882 shares during the period. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Automation Price Performance

Rockwell Automation stock opened at $287.06 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $32.45 billion, a P/E ratio of 34.67, a PEG ratio of 2.87 and a beta of 1.36. The business has a 50-day moving average of $287.88 and a 200-day moving average of $274.25. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $307.71.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.40 by $0.07. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The business’s quarterly revenue was down 20.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.64 earnings per share. On average, equities analysts anticipate that Rockwell Automation, Inc. will post 9.37 EPS for the current year.

Rockwell Automation Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a yield of 1.83%. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, November 18th. Rockwell Automation’s payout ratio is presently 63.29%.

Insiders Place Their Bets

In other Rockwell Automation news, CEO Blake D. Moret sold 26,700 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $298.63, for a total transaction of $7,973,421.00. Following the completion of the transaction, the chief executive officer now owns 78,115 shares in the company, valued at approximately $23,327,482.45. This represents a 25.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Cyril Perducat sold 1,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $300.00, for a total value of $300,000.00. Following the completion of the sale, the senior vice president now owns 3,630 shares in the company, valued at approximately $1,089,000. This trade represents a 21.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,436 shares of company stock worth $10,832,549 over the last ninety days. 0.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Rockwell Automation from $320.00 to $335.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. BNP Paribas started coverage on shares of Rockwell Automation in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 target price on the stock. Wells Fargo & Company increased their price target 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 decreased their price objective on 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, Oppenheimer increased their target price on Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rockwell Automation has an average rating of “Hold” and a consensus target price of $304.16.

Rockwell Automation 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.