Rockwell Automation, Inc. (NYSE:ROK) Shares Acquired by Independence Bank of Kentucky

Independence Bank of Kentucky boosted its position in Rockwell Automation, Inc. (NYSE:ROKFree Report) by 20.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 240 shares of the industrial products company’s stock after purchasing an additional 40 shares during the quarter. Independence Bank of Kentucky’s holdings in Rockwell Automation were worth $75,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Rockwell Automation by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 11,472,877 shares of the industrial products company’s stock valued at $3,212,750,000 after purchasing an additional 106,641 shares during the last quarter. State Street Corp raised its stake in Rockwell Automation by 2.0% in the 2nd quarter. State Street Corp now owns 4,518,655 shares of the industrial products company’s stock valued at $1,488,671,000 after purchasing an additional 90,589 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Rockwell Automation by 2.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,752,223 shares of the industrial products company’s stock valued at $786,778,000 after purchasing an additional 70,272 shares during the last quarter. Morgan Stanley grew its holdings in Rockwell Automation by 20.0% in the 4th quarter. Morgan Stanley now owns 2,741,019 shares of the industrial products company’s stock valued at $706,004,000 after buying an additional 457,383 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Rockwell Automation by 2.2% in the 1st quarter. Geode Capital Management LLC now owns 2,375,698 shares of the industrial products company’s stock valued at $695,560,000 after buying an additional 51,561 shares in the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Stock Performance

NYSE ROK opened at $279.87 on Thursday. The stock has a fifty day simple moving average of $283.10 and a 200-day simple moving average of $284.49. Rockwell Automation, Inc. has a twelve month low of $252.11 and a twelve month high of $348.52. The stock has a market cap of $32.07 billion, a PE ratio of 26.63, a P/E/G ratio of 2.64 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76.

Rockwell Automation (NYSE:ROKGet Free Report) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.58). Rockwell Automation had a net margin of 13.35% and a return on equity of 37.22%. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter last year, the business earned $2.46 earnings per share. Equities analysts anticipate that Rockwell Automation, Inc. will post 12.13 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Tuesday, February 20th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Friday, February 16th. Rockwell Automation’s dividend payout ratio (DPR) is 47.57%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ROK. Barclays dropped their target price on Rockwell Automation from $269.00 to $265.00 and set an “underweight” rating for the company in a report on Tuesday. UBS Group upgraded Rockwell Automation from a “neutral” rating to a “buy” rating and upped their target price for the company from $305.00 to $360.00 in a report on Wednesday, January 3rd. Mizuho dropped their target price on Rockwell Automation from $300.00 to $265.00 and set a “neutral” rating for the company in a report on Thursday, February 1st. Berenberg Bank restated a “hold” rating and issued a $290.00 target price (down from $330.00) on shares of Rockwell Automation in a report on Wednesday, March 6th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $254.00 price target on shares of Rockwell Automation in a report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $308.00.

Check Out Our Latest Stock Analysis on ROK

Insider Activity at Rockwell Automation

In related news, VP Brian A. Shepherd sold 637 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $262.87, for a total transaction of $167,448.19. Following the completion of the transaction, the vice president now directly owns 5,088 shares in the company, valued at approximately $1,337,482.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Rockwell Automation news, VP Scott Genereux sold 500 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $290.00, for a total value of $145,000.00. Following the sale, the vice president now owns 2,383 shares of the company’s stock, valued at approximately $691,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian A. Shepherd sold 637 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $262.87, for a total value of $167,448.19. Following the completion of the sale, the vice president now directly owns 5,088 shares in the company, valued at approximately $1,337,482.56. The disclosure for this sale can be found here. Insiders sold 17,877 shares of company stock worth $5,058,772 in the last three months. 0.68% of the stock is owned by company insiders.

Rockwell Automation 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.

Further Reading

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

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