Franklin Resources Inc. Cuts Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Franklin Resources Inc. cut its stake in Rockwell Automation, Inc. (NYSE:ROK) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 567,447 shares of the industrial products company’s stock after selling 25,721 shares during the period. Franklin Resources Inc.’s holdings in Rockwell Automation were worth $162,171,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ROK. West Oak Capital LLC boosted its stake in shares of 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 buying an additional 82 shares during the period. Bank of Jackson Hole Trust acquired a new stake in Rockwell Automation in the fourth quarter valued at approximately $34,000. SBI Securities Co. Ltd. purchased a new position in Rockwell Automation in the fourth quarter worth approximately $35,000. Flagship Wealth Advisors LLC acquired a new position in Rockwell Automation during the 4th quarter worth approximately $38,000. Finally, Knuff & Co LLC increased its position 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 purchasing an additional 41 shares during the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Trading Up 0.8 %

Shares of ROK stock opened at $260.75 on Thursday. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $308.70. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $277.15 and its two-hundred day moving average is $278.76. The company has a market capitalization of $29.48 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 3.53 and a beta of 1.39.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Monday, February 10th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.22. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. Equities analysts forecast that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a yield of 2.01%. Rockwell Automation’s payout ratio is currently 65.26%.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, VP Terry L. Riesterer sold 850 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $300.21, for a total transaction of $255,178.50. Following the sale, the vice president now directly owns 1,633 shares in the company, valued at approximately $490,242.93. The trade was a 34.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott Genereux sold 500 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $290.14, for a total transaction of $145,070.00. Following the completion of the transaction, the vice president now owns 1,905 shares of the company’s stock, valued at $552,716.70. This represents a 20.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,352 shares of company stock valued at $1,246,298. 0.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ROK has been the subject of a number of analyst reports. Stephens upgraded shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $275.00 to $350.00 in a research note on Thursday, January 16th. Jefferies Financial Group upgraded Rockwell Automation from a “hold” rating to a “buy” rating and increased their price objective for the company from $290.00 to $350.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. decreased their target price on Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating for the company in a research note on Wednesday, January 15th. Morgan Stanley increased their price target on shares of Rockwell Automation from $335.00 to $345.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their price objective on shares of Rockwell Automation from $315.00 to $337.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Three 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. Based on data from MarketBeat, Rockwell Automation presently has an average rating of “Hold” and an average price target of $307.42.

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.