Rockwell Automation, Inc. (NYSE:ROK) Shares Purchased by Sit Investment Associates Inc.

Sit Investment Associates Inc. raised its stake in Rockwell Automation, Inc. (NYSE:ROK) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,835 shares of the industrial products company’s stock after buying an additional 80 shares during the quarter. Sit Investment Associates Inc.’s holdings in Rockwell Automation were worth $1,922,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ROK. Neo Ivy Capital Management acquired a new position in shares of Rockwell Automation in the 2nd quarter worth approximately $29,000. Clear Street Markets LLC acquired a new position in Rockwell Automation during the fourth quarter worth $30,000. First Manhattan Co. boosted its position in shares of Rockwell Automation by 150.0% during the fourth quarter. First Manhattan Co. now owns 125 shares of the industrial products company’s stock worth $32,000 after buying an additional 75 shares during the period. GPS Wealth Strategies Group LLC boosted its position in shares of Rockwell Automation by 62.9% during the second quarter. GPS Wealth Strategies Group LLC now owns 101 shares of the industrial products company’s stock worth $33,000 after buying an additional 39 shares during the period. Finally, Fortis Capital Advisors LLC acquired a new stake in shares of Rockwell Automation in the first quarter valued at $37,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Rockwell Automation Price Performance

ROK stock opened at $270.17 on Thursday. The company has a current ratio of 1.46, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $30.98 billion, a P/E ratio of 22.59, a PEG ratio of 1.98 and a beta of 1.46. The business has a 50 day simple moving average of $278.16 and a 200-day simple moving average of $296.36. Rockwell Automation, Inc. has a twelve month low of $248.71 and a twelve month high of $348.52.

Rockwell Automation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Monday, November 13th will be paid a $1.25 dividend. The ex-dividend date is Friday, November 10th. This is a positive change from Rockwell Automation’s previous quarterly dividend of $1.18. This represents a $5.00 dividend on an annualized basis and a yield of 1.85%. Rockwell Automation’s payout ratio is currently 41.81%.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, SVP Rebecca W. House sold 440 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $285.26, for a total transaction of $125,514.40. Following the completion of the sale, the senior vice president now directly owns 6,549 shares of the company’s stock, valued at approximately $1,868,167.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Rebecca W. House sold 440 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $285.26, for a total value of $125,514.40. Following the completion of the sale, the senior vice president now owns 6,549 shares in the company, valued at approximately $1,868,167.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Isaac Woods sold 113 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $285.43, for a total transaction of $32,253.59. Following the transaction, the vice president now owns 827 shares in the company, valued at $236,050.61. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,150 shares of company stock worth $311,281. Company insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ROK. KeyCorp assumed coverage on Rockwell Automation in a report on Monday, October 2nd. They set a “sector weight” rating for the company. Mizuho dropped their price objective on shares of Rockwell Automation from $270.00 to $265.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. StockNews.com initiated coverage on shares of Rockwell Automation in a report on Thursday, October 5th. They set a “hold” rating on the stock. Barclays decreased their price target on shares of Rockwell Automation from $287.00 to $270.00 in a research report on Tuesday, October 10th. Finally, Stephens reaffirmed an “equal weight” rating and set a $350.00 price objective on shares of Rockwell Automation in a research report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $299.20.

About Rockwell Automation

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.