Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Renaissance Investment Group LLC
Renaissance Investment Group LLC cut its holdings in Rockwell Automation, Inc. (NYSE:ROK – Get Rating) by 19.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,326 shares of the industrial products company’s stock after selling 3,264 shares during the period. Renaissance Investment Group LLC’s holdings in Rockwell Automation were worth $3,432,000 at the end of the most recent reporting period.
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Other large investors have also recently added to or reduced their stakes in the company. MinichMacGregor Wealth Management LLC acquired a new position in Rockwell Automation in the fourth quarter valued at approximately $27,000. Neo Ivy Capital Management acquired a new position in Rockwell Automation during the second quarter worth $29,000. BDO Wealth Advisors LLC lifted its stake in Rockwell Automation by 103.8% during the third quarter. BDO Wealth Advisors LLC now owns 163 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 83 shares in the last quarter. Money Concepts Capital Corp lifted its stake in Rockwell Automation by 1,445.5% during the third quarter. Money Concepts Capital Corp now owns 170 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 159 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in Rockwell Automation during the second quarter worth $39,000. 77.66% of the stock is currently owned by institutional investors and hedge funds.
Rockwell Automation Stock Performance
Shares of ROK stock opened at $272.71 on Friday. The stock’s 50-day moving average is $286.98 and its two-hundred day moving average is $261.52. The firm has a market cap of $31.30 billion, a price-to-earnings ratio of 29.55, a PEG ratio of 2.59 and a beta of 1.44. Rockwell Automation, Inc. has a 1 year low of $190.08 and a 1 year high of $309.36. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.69 and a current ratio of 1.03.
Rockwell Automation (NYSE:ROK – Get Rating) last issued its quarterly earnings data on Thursday, January 26th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.65. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.93 billion. Rockwell Automation had a return on equity of 38.70% and a net margin of 13.63%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.14 earnings per share. Analysts predict that Rockwell Automation, Inc. will post 11.22 earnings per share for the current year.
Rockwell Automation Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Tuesday, February 21st were issued a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Friday, February 17th. Rockwell Automation’s dividend payout ratio is currently 51.14%.
Wall Street Analyst Weigh In
A number of research analysts have commented on ROK shares. Mizuho upped their price target on Rockwell Automation from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 27th. StockNews.com assumed coverage on Rockwell Automation in a research note on Thursday. They set a “buy” rating on the stock. Robert W. Baird increased their price objective on Rockwell Automation from $285.00 to $292.00 and gave the company an “outperform” rating in a research note on Friday, January 27th. Bank of America cut Rockwell Automation from a “buy” rating to a “neutral” rating in a research note on Monday, December 12th. Finally, Loop Capital increased their price objective on Rockwell Automation from $258.00 to $285.00 in a research note on Tuesday, January 31st. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $263.24.
Insider Buying and Selling
In related news, CFO Nicholas C. Gangestad sold 1,975 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $294.25, for a total transaction of $581,143.75. Following the transaction, the chief financial officer now owns 7,757 shares of the company’s stock, valued at $2,282,497.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Tessa M. Myers sold 4,534 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $290.49, for a total transaction of $1,317,081.66. Following the transaction, the senior vice president now owns 1,206 shares of the company’s stock, valued at $350,330.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Nicholas C. Gangestad sold 1,975 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $294.25, for a total transaction of $581,143.75. Following the completion of the sale, the chief financial officer now owns 7,757 shares of the company’s stock, valued at approximately $2,282,497.25. The disclosure for this sale can be found here. Insiders have sold a total of 10,730 shares of company stock valued at $3,112,032 over the last quarter. 0.64% of the stock is currently owned by insiders.
Rockwell Automation Company Profile
Rockwell Automation, Inc engages in the provision of industrial automation and information services. It operates through the following segments: Intelligent Devices, Software and Control, and Lifecycle Services. The Intelligent Devices segment combines a comprehensive portfolio of smart products that create the foundation of an agile, resilient, and sustainable production system.
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