Kornitzer Capital Management Inc. KS Increases Position in Rockwell Automation, Inc. (NYSE:ROK)

Kornitzer Capital Management Inc. KS raised its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 19.1% in the 4th quarter, HoldingsChannel reports. The fund owned 32,038 shares of the industrial products company’s stock after acquiring an additional 5,128 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Rockwell Automation were worth $9,947,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ROK. OFI Invest Asset Management acquired a new position in Rockwell Automation in the third quarter valued at $26,000. Provence Wealth Management Group purchased a new position in shares of Rockwell Automation during the 3rd quarter worth about $27,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Rockwell Automation in the fourth quarter worth approximately $27,000. BluePath Capital Management LLC purchased a new stake in Rockwell Automation in the third quarter valued at approximately $29,000. Finally, Neo Ivy Capital Management purchased a new position in Rockwell Automation during the second quarter worth approximately $29,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Automation Stock Down 1.3 %

ROK stock traded down $3.54 during midday trading on Friday, hitting $269.96. 1,196,641 shares of the company’s stock were exchanged, compared to its average volume of 838,069. The firm has a 50 day moving average price of $282.86 and a 200-day moving average price of $284.17. Rockwell Automation, Inc. has a 12-month low of $252.11 and a 12-month high of $348.52. The stock has a market capitalization of $30.93 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 2.76 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.58). Rockwell Automation had a return on equity of 37.22% and a net margin of 13.35%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter last year, the firm posted $2.46 EPS. On average, analysts anticipate that Rockwell Automation, Inc. will post 11.98 EPS for the current year.

Rockwell Automation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 13th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.85%. Rockwell Automation’s payout ratio is 47.57%.

Analysts Set New Price Targets

A number of research firms have recently commented on ROK. Berenberg Bank restated a “hold” rating and set a $290.00 price objective (down from $330.00) on shares of Rockwell Automation in a report on Wednesday, March 6th. Barclays reduced their price objective on Rockwell Automation from $269.00 to $265.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 2nd. Wells Fargo & Company cut their price target on shares of Rockwell Automation from $357.00 to $320.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. UBS Group upgraded shares of Rockwell Automation from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $305.00 to $360.00 in a research note on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $254.00 target price on shares of Rockwell Automation in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $310.08.

Insider Buying and Selling

In other Rockwell Automation news, CFO Nicholas C. Gangestad sold 1,989 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $288.17, for a total transaction of $573,170.13. Following the sale, the chief financial officer now owns 12,217 shares in the company, valued at $3,520,572.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Rockwell Automation news, CFO Nicholas C. Gangestad sold 1,989 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $288.17, for a total transaction of $573,170.13. Following the completion of the sale, the chief financial officer now owns 12,217 shares in the company, valued at $3,520,572.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Scott Genereux sold 500 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $290.00, for a total transaction of $145,000.00. Following the completion of the transaction, the vice president now owns 2,383 shares in the company, valued at $691,070. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,877 shares of company stock worth $5,058,772. Corporate insiders own 0.68% of the company’s stock.

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.