Iyo Bank Ltd. Acquires 10,340 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Iyo Bank Ltd. grew its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 93.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,350 shares of the industrial products company’s stock after buying an additional 10,340 shares during the period. Rockwell Automation makes up 1.8% of Iyo Bank Ltd.’s investment portfolio, making the stock its 22nd largest holding. Iyo Bank Ltd.’s holdings in Rockwell Automation were worth $5,516,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ROK. Citizens National Bank Trust Department bought a new position in shares of Rockwell Automation in the 1st quarter worth $26,000. Financial Gravity Asset Management Inc. bought a new position in shares of Rockwell Automation in the 1st quarter worth $31,000. IMA Advisory Services Inc. bought a new position in shares of Rockwell Automation in the 1st quarter worth $32,000. Parvin Asset Management LLC bought a new position in Rockwell Automation during the 4th quarter valued at $36,000. Finally, Cooksen Wealth LLC bought a new position in Rockwell Automation during the 1st quarter valued at $34,000. 75.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ROK has been the topic of several recent analyst reports. KeyCorp raised their price objective on Rockwell Automation from $370.00 to $380.00 and gave the company an “overweight” rating in a research note on Thursday. Oppenheimer dropped their price objective on Rockwell Automation from $371.00 to $363.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. Wells Fargo & Company set a $345.00 target price on Rockwell Automation and gave the company an “equal weight” rating in a research report on Friday. TD Cowen raised Rockwell Automation from a “sell” rating to a “hold” rating and set a $275.00 target price for the company in a research report on Friday, May 9th. Finally, Stephens reaffirmed an “overweight” rating and set a $375.00 target price (up from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $339.47.

Rockwell Automation Stock Down 1.0%

Shares of NYSE ROK opened at $329.86 on Tuesday. Rockwell Automation, Inc. has a 52 week low of $215.00 and a 52 week high of $360.92. The business has a 50-day simple moving average of $337.18 and a two-hundred day simple moving average of $294.58. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.72. The company has a market cap of $37.09 billion, a P/E ratio of 38.72, a P/E/G ratio of 3.43 and a beta of 1.39.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.67 by $0.15. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the company earned $2.71 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. Research analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be given a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, August 18th. Rockwell Automation’s dividend payout ratio (DPR) is 61.50%.

Insider Activity

In other news, VP Isaac Woods sold 297 shares of Rockwell Automation stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $326.31, for a total transaction of $96,914.07. Following the completion of the sale, the vice president owned 1,691 shares in the company, valued at approximately $551,790.21. This trade represents a 14.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Tessa M. Myers sold 363 shares of Rockwell Automation stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $326.32, for a total value of $118,454.16. Following the sale, the senior vice president owned 4,063 shares of the company’s stock, valued at approximately $1,325,838.16. This trade represents a 8.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,818 shares of company stock worth $1,944,708. Company 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.