Rockwell Automation, Inc. (NYSE:ROK) Position Cut by Fifth Third Bancorp

Fifth Third Bancorp lowered its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 0.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,001 shares of the industrial products company’s stock after selling 45 shares during the period. Fifth Third Bancorp’s holdings in Rockwell Automation were worth $1,429,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ROK. Richardson Financial Services Inc. increased its stake in shares of Rockwell Automation by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 48 shares during the period. Ashton Thomas Securities LLC bought a new position in Rockwell Automation in the 3rd quarter worth approximately $26,000. West Oak Capital LLC increased its position in Rockwell Automation by 455.6% in the 4th quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 82 shares during the period. Darwin Wealth Management LLC bought a new stake in Rockwell Automation during the 3rd quarter valued at $34,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Rockwell Automation during the 2nd quarter worth $36,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Trading Down 0.7 %

Shares of ROK stock opened at $282.27 on Wednesday. Rockwell Automation, Inc. has a 12 month low of $242.81 and a 12 month high of $307.71. The company has a market cap of $31.90 billion, a PE ratio of 34.09, a price-to-earnings-growth ratio of 3.11 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average is $288.52 and its two-hundred day moving average is $275.32.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. Rockwell Automation’s revenue was down 20.6% compared to the same quarter last year. During the same period last year, the business posted $3.64 EPS. Equities analysts predict that Rockwell Automation, Inc. will post 9.32 EPS for the current year.

Rockwell Automation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Monday, November 18th. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s payout ratio is currently 63.29%.

Insider Activity at Rockwell Automation

In related news, SVP Veena M. Lakkundi sold 579 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $266.86, for a total transaction of $154,511.94. Following the completion of the transaction, the senior vice president now directly owns 4,576 shares in the company, valued at $1,221,151.36. This represents a 11.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Blake D. Moret sold 26,700 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 78,115 shares in the company, valued at $23,327,482.45. This represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,436 shares of company stock worth $10,832,549 in the last 90 days. 0.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ROK shares. KeyCorp raised Rockwell Automation from a “sector weight” rating to an “overweight” rating and set a $345.00 price target on the stock in a report on Monday, December 9th. Wells Fargo & Company raised their target price on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. reduced their price target on shares of Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating for the company in a research note on Wednesday, January 15th. Robert W. Baird raised their price objective on shares of Rockwell Automation from $290.00 to $305.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Finally, Stephens raised shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $275.00 to $350.00 in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rockwell Automation presently has an average rating of “Hold” and a consensus price target of $304.16.

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.