Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its stake in Rockwell Automation, Inc. (NYSE:ROKGet Rating) by 6.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 164,914 shares of the industrial products company’s stock after selling 11,879 shares during the quarter. Victory Capital Management Inc. owned approximately 0.14% of Rockwell Automation worth $41,669,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Capital World Investors grew its position in Rockwell Automation by 35.2% in the 4th quarter. Capital World Investors now owns 4,892,850 shares of the industrial products company’s stock worth $1,706,871,000 after purchasing an additional 1,272,634 shares during the last quarter. State Street Corp grew its position in Rockwell Automation by 2.6% in the 4th quarter. State Street Corp now owns 4,846,228 shares of the industrial products company’s stock worth $1,690,607,000 after purchasing an additional 120,708 shares during the last quarter. Alliancebernstein L.P. grew its position in Rockwell Automation by 9.8% in the 4th quarter. Alliancebernstein L.P. now owns 1,461,253 shares of the industrial products company’s stock worth $509,758,000 after purchasing an additional 130,498 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Rockwell Automation by 16.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,349,037 shares of the industrial products company’s stock worth $470,612,000 after purchasing an additional 191,618 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Rockwell Automation by 2.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,149,342 shares of the industrial products company’s stock worth $400,949,000 after purchasing an additional 32,860 shares during the last quarter. Institutional investors and hedge funds own 78.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ROK. Deutsche Bank Aktiengesellschaft upped their target price on shares of Rockwell Automation from $212.00 to $231.00 in a research report on Thursday, July 28th. The Goldman Sachs Group decreased their price objective on shares of Rockwell Automation from $294.00 to $252.00 and set a “sell” rating for the company in a report on Thursday, April 7th. Morgan Stanley reiterated a “maintains” rating and issued a $265.00 price objective (up from $260.00) on shares of Rockwell Automation in a report on Thursday, July 28th. HSBC decreased their price objective on shares of Rockwell Automation from $293.00 to $240.00 in a report on Tuesday, May 10th. Finally, Cowen decreased their price objective on shares of Rockwell Automation from $275.00 to $185.00 in a report on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $254.65.

Insiders Place Their Bets

In other Rockwell Automation news, VP John M. Miller sold 1,200 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $253.10, for a total value of $303,720.00. Following the completion of the sale, the vice president now owns 4,508 shares in the company, valued at approximately $1,140,974.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP John M. Miller sold 1,200 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $253.10, for a total value of $303,720.00. Following the transaction, the vice president now directly owns 4,508 shares in the company, valued at approximately $1,140,974.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Cyril Perducat sold 664 shares of the firm’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $217.75, for a total transaction of $144,586.00. Following the completion of the sale, the senior vice president now owns 1,576 shares in the company, valued at $343,174. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Rockwell Automation Stock Down 1.1 %

Shares of NYSE:ROK opened at $252.57 on Tuesday. Rockwell Automation, Inc. has a 52 week low of $190.08 and a 52 week high of $354.99. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.76 and a current ratio of 1.06. The company has a market cap of $29.36 billion, a PE ratio of 44.08, a price-to-earnings-growth ratio of 2.71 and a beta of 1.47. The firm has a 50 day simple moving average of $209.00 and a 200 day simple moving average of $244.52.

Rockwell Automation (NYSE:ROKGet Rating) last released its earnings results on Wednesday, July 27th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.33. Rockwell Automation had a net margin of 9.03% and a return on equity of 37.06%. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the firm earned $2.31 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. As a group, research analysts expect that Rockwell Automation, Inc. will post 9.39 earnings per share for the current year.

Rockwell Automation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Monday, August 15th will be given a $1.12 dividend. The ex-dividend date of this dividend is Friday, August 12th. This represents a $4.48 dividend on an annualized basis and a yield of 1.77%. Rockwell Automation’s payout ratio is 78.18%.

Rockwell Automation declared that its board has approved a share repurchase program on Tuesday, May 3rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Rockwell Automation Profile

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Rockwell Automation, Inc provides industrial automation and digital transformation solutions in the United States and internationally. The company operates in three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products, and services.

See Also

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

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