abrdn plc Boosts Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

abrdn plc grew its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 28.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,777 shares of the industrial products company’s stock after purchasing an additional 22,757 shares during the period. abrdn plc’s holdings in Rockwell Automation were worth $31,600,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bruce G. Allen Investments LLC purchased a new position in Rockwell Automation in the 4th quarter worth about $27,000. OFI Invest Asset Management bought a new position in Rockwell Automation in the 3rd quarter worth about $26,000. Provence Wealth Management Group purchased a new position in shares of Rockwell Automation during the third quarter worth approximately $27,000. BluePath Capital Management LLC bought a new stake in shares of Rockwell Automation during the third quarter valued at approximately $29,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Rockwell Automation in the fourth quarter valued at approximately $46,000. 75.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JPMorgan Chase & Co. restated an “underweight” rating and set a $254.00 price objective on shares of Rockwell Automation in a report on Thursday, March 21st. Oppenheimer decreased their price objective on Rockwell Automation from $324.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, February 1st. Berenberg Bank reaffirmed a “hold” rating and issued a $290.00 price objective (down from $330.00) on shares of Rockwell Automation in a research note on Wednesday, March 6th. Mizuho cut their target price on shares of Rockwell Automation from $300.00 to $265.00 and set a “neutral” rating on the stock in a research report on Thursday, February 1st. Finally, UBS Group raised shares of Rockwell Automation from a “neutral” rating to a “buy” rating and upped their price target for the stock from $305.00 to $360.00 in a research report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $310.08.

Rockwell Automation Price Performance

Shares of NYSE ROK opened at $273.58 on Tuesday. Rockwell Automation, Inc. has a fifty-two week low of $252.11 and a fifty-two week high of $348.52. The company has a market cap of $31.35 billion, a PE ratio of 26.03, a P/E/G ratio of 2.72 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.25. The business has a 50-day simple moving average of $282.72 and a two-hundred day simple moving average of $284.05.

Rockwell Automation (NYSE:ROK) last released 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 return on equity of 37.22% and a net margin of 13.35%. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter last year, the business earned $2.46 earnings per share. As a group, equities analysts expect that Rockwell Automation, Inc. will post 11.98 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 13th will be paid a $1.25 dividend. The ex-dividend date is Friday, May 10th. This represents a $5.00 dividend on an annualized basis and a yield of 1.83%. Rockwell Automation’s dividend payout ratio (DPR) is 47.57%.

Insider Buying and Selling

In other Rockwell Automation news, VP Brian A. Shepherd sold 637 shares of the business’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 sale, the vice president now owns 5,088 shares in the company, valued at approximately $1,337,482.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Nicholas C. Gangestad sold 1,989 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $288.17, for a total value of $573,170.13. Following the sale, the chief financial officer now owns 12,217 shares in the company, valued at $3,520,572.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian A. Shepherd sold 637 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $262.87, for a total transaction of $167,448.19. Following the transaction, the vice president now owns 5,088 shares of the company’s stock, valued at $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 90 days. Insiders own 0.68% of the company’s stock.

Rockwell Automation 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.