Allstate Corp Buys New Shares in Rockwell Automation, Inc. (NYSE:ROK)

Allstate Corp purchased a new position in shares of Rockwell Automation, Inc. (NYSE:ROK) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,421 shares of the industrial products company’s stock, valued at approximately $978,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. West Oak Capital LLC increased its stake in shares of Rockwell Automation by 455.6% in the fourth quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 82 shares during the period. Bank of Jackson Hole Trust purchased a new stake in Rockwell Automation in the fourth quarter valued at $34,000. SBI Securities Co. Ltd. acquired a new stake in Rockwell Automation during the 4th quarter worth about $35,000. Flagship Wealth Advisors LLC purchased a new position in shares of Rockwell Automation during the 4th quarter valued at about $38,000. Finally, Knuff & Co LLC lifted its holdings in shares of Rockwell Automation by 41.0% in the 4th quarter. Knuff & Co LLC now owns 141 shares of the industrial products company’s stock valued at $40,000 after buying an additional 41 shares during the period. Institutional investors and hedge funds own 75.75% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on ROK shares. JPMorgan Chase & Co. reduced their price target on Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating for the company in a research report on Wednesday, January 15th. Jefferies Financial Group upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and boosted their target price for the company from $290.00 to $350.00 in a research note on Thursday, December 12th. Citigroup raised their price target on shares of Rockwell Automation from $345.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Stephens upgraded shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $275.00 to $350.00 in a research report on Thursday, January 16th. Finally, Loop Capital raised their target price on Rockwell Automation from $260.00 to $280.00 and gave the company a “hold” rating in a research report on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $307.42.

Insiders Place Their Bets

In other news, VP Isaac Woods sold 895 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $274.72, for a total transaction of $245,874.40. Following the completion of the sale, the vice president now owns 1,198 shares in the company, valued at $329,114.56. This trade represents a 42.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Tessa M. Myers sold 1,231 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $285.43, for a total value of $351,364.33. Following the completion of the transaction, the senior vice president now owns 3,650 shares in the company, valued at $1,041,819.50. This represents a 25.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,352 shares of company stock valued at $1,246,298 in the last three months. 0.68% of the stock is currently owned by insiders.

Rockwell Automation Price Performance

Rockwell Automation stock opened at $258.42 on Tuesday. The company has a fifty day simple moving average of $278.36 and a 200-day simple moving average of $278.91. The firm has a market capitalization of $29.22 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 3.53 and a beta of 1.39. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.72. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $308.70.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Monday, February 10th. The industrial products company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.22. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. On average, equities analysts anticipate that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were issued a $1.31 dividend. This represents a $5.24 annualized dividend and a yield of 2.03%. The ex-dividend date was Tuesday, February 18th. Rockwell Automation’s payout ratio is currently 65.26%.

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.