Elevation Point Wealth Partners LLC Increases Position in Rockwell Automation, Inc. (NYSE:ROK)

Elevation Point Wealth Partners LLC boosted its holdings in Rockwell Automation, Inc. (NYSE:ROKFree Report) by 96.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,909 shares of the industrial products company’s stock after purchasing an additional 2,415 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Rockwell Automation were worth $1,268,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Rockwell Automation by 0.9% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,775 shares of the industrial products company’s stock worth $1,079,000 after purchasing an additional 33 shares during the last quarter. Whittier Trust Co. lifted its stake in Rockwell Automation by 1.9% in the fourth quarter. Whittier Trust Co. now owns 1,896 shares of the industrial products company’s stock worth $542,000 after purchasing an additional 35 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Rockwell Automation by 0.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company’s stock worth $1,199,000 after purchasing an additional 38 shares during the last quarter. Lake Street Advisors Group LLC lifted its stake in Rockwell Automation by 3.0% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,351 shares of the industrial products company’s stock worth $386,000 after purchasing an additional 39 shares during the last quarter. Finally, Knuff & Co LLC lifted its stake in Rockwell Automation by 41.0% in the fourth quarter. Knuff & Co LLC now owns 141 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 41 shares during the last quarter. 75.75% of the stock is owned by institutional investors.

Rockwell Automation Price Performance

Shares of NYSE ROK opened at $317.36 on Friday. Rockwell Automation, Inc. has a fifty-two week low of $215.00 and a fifty-two week high of $328.90. The company has a 50 day simple moving average of $279.47 and a two-hundred day simple moving average of $279.78. The company has a market capitalization of $35.77 billion, a price-to-earnings ratio of 39.52, a P/E/G ratio of 3.53 and a beta of 1.38. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.08.

Rockwell Automation (NYSE:ROKGet Free Report) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.36. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the firm earned $2.50 earnings per share. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. Analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be issued a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation’s payout ratio is 65.99%.

Insider Activity

In other news, SVP Tessa M. Myers sold 363 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $326.32, for a total transaction of $118,454.16. Following the sale, the senior vice president now owns 4,063 shares in the company, valued at $1,325,838.16. This represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Matheus De A. G. Viera Bulho sold 526 shares of Rockwell Automation stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $325.35, for a total transaction of $171,134.10. Following the completion of the sale, the senior vice president now directly owns 983 shares of the company’s stock, valued at approximately $319,819.05. This trade represents a 34.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,681 shares of company stock worth $2,382,987 over the last 90 days. 0.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Rockwell Automation from $265.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. BNP Paribas upgraded shares of Rockwell Automation from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 9th. TD Cowen upgraded shares of Rockwell Automation from a “sell” rating to a “hold” rating and set a $275.00 target price for the company in a report on Friday, May 9th. JPMorgan Chase & Co. increased their target price on shares of Rockwell Automation from $271.00 to $299.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Finally, Loop Capital increased their target price on shares of Rockwell Automation from $280.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $317.79.

Check Out Our Latest Report on ROK

Rockwell Automation Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

Receive News & Ratings for Rockwell Automation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rockwell Automation and related companies with MarketBeat.com's FREE daily email newsletter.