Rockwell Automation, Inc. $ROK Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 43.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,303 shares of the industrial products company’s stock after selling 62,612 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Rockwell Automation were worth $21,265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Citizens National Bank Trust Department acquired a new position in shares of Rockwell Automation during the first quarter worth approximately $26,000. Financial Gravity Asset Management Inc. bought a new stake in Rockwell Automation during the first quarter worth approximately $31,000. IMA Advisory Services Inc. bought a new stake in Rockwell Automation during the first quarter worth approximately $32,000. Parvin Asset Management LLC bought a new stake in Rockwell Automation during the fourth quarter worth approximately $36,000. Finally, Cooksen Wealth LLC bought a new stake in Rockwell Automation during the first quarter worth approximately $34,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Rockwell Automation

In related news, SVP Matheus De A. G. Viera Bulho sold 526 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $325.35, for a total value of $171,134.10. Following the completion of the transaction, the senior vice president owned 983 shares of the company’s stock, valued at approximately $319,819.05. This trade represents a 34.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Tessa M. Myers sold 363 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $326.32, for a total transaction of $118,454.16. Following the completion of the transaction, the senior vice president directly owned 4,063 shares of the company’s stock, valued at $1,325,838.16. This represents a 8.20% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,818 shares of company stock worth $1,944,708. 0.68% of the stock is currently owned by insiders.

Rockwell Automation Price Performance

NYSE ROK opened at $350.7550 on Friday. The stock has a market capitalization of $39.44 billion, a P/E ratio of 41.17, a P/E/G ratio of 3.61 and a beta of 1.39. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $360.92. The business’s fifty day moving average is $341.12 and its two-hundred day moving average is $298.64. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.06.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.15. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The firm’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.71 earnings per share. On average, research analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be paid a $1.31 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $5.24 dividend on an annualized basis and a yield of 1.5%. Rockwell Automation’s dividend payout ratio (DPR) is currently 61.50%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ROK shares. JPMorgan Chase & Co. boosted their target price on Rockwell Automation from $271.00 to $299.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Wall Street Zen raised shares of Rockwell Automation from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Bank of America raised shares of Rockwell Automation from a “neutral” rating to a “buy” rating and upped their price target for the company from $360.00 to $410.00 in a report on Wednesday, July 16th. TD Cowen raised shares of Rockwell Automation from a “sell” rating to a “hold” rating and set a $275.00 target price for the company in a research note on Friday, May 9th. Finally, Stephens reissued an “overweight” rating and set a $375.00 target price (up from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $340.16.

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.