Rockwell Automation, Inc. (NYSE:ROK) Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 122.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,291 shares of the industrial products company’s stock after purchasing an additional 1,262 shares during the quarter. Farther Finance Advisors LLC’s holdings in Rockwell Automation were worth $593,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Rockwell Automation by 0.9% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,775 shares of the industrial products company’s stock valued at $1,079,000 after buying an additional 33 shares during the last quarter. Whittier Trust Co. grew its stake in Rockwell Automation by 1.9% during the 4th quarter. Whittier Trust Co. now owns 1,896 shares of the industrial products company’s stock valued at $542,000 after purchasing an additional 35 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake in Rockwell Automation by 0.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company’s stock valued at $1,199,000 after purchasing an additional 38 shares during the last quarter. Lake Street Advisors Group LLC increased its holdings in shares of Rockwell Automation by 3.0% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,351 shares of the industrial products company’s stock valued at $386,000 after purchasing an additional 39 shares during the period. Finally, Knuff & Co LLC raised its stake in shares of Rockwell Automation by 41.0% in the fourth quarter. Knuff & Co LLC now owns 141 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Insider Buying and Selling

In related news, SVP Matheus De A. G. Viera Bulho sold 526 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $325.35, for a total transaction of $171,134.10. Following the transaction, the senior vice president now directly owns 983 shares in the company, valued at approximately $319,819.05. The trade was a 34.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Matthew W. Fordenwalt sold 223 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $313.97, for a total value of $70,015.31. Following the transaction, the senior vice president now owns 3,209 shares in the company, valued at approximately $1,007,529.73. This represents a 6.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,681 shares of company stock worth $2,382,987 in the last 90 days. Insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

ROK has been the topic of several research reports. Barclays upgraded shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $283.00 to $350.00 in a report on Friday, May 30th. BNP Paribas upgraded shares of Rockwell Automation from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 9th. KeyCorp boosted their target price on shares of Rockwell Automation from $345.00 to $360.00 and gave the company an “overweight” rating in a research report on Friday. TD Cowen raised Rockwell Automation from a “sell” rating to a “hold” rating and set a $275.00 price target on the stock in a research report on Friday, May 9th. Finally, Loop Capital lifted their price objective on Rockwell Automation from $280.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, May 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $317.79.

Rockwell Automation Stock Performance

Shares of ROK stock opened at $317.36 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. Rockwell Automation, Inc. has a 12-month low of $215.00 and a 12-month high of $328.90. The business’s 50 day moving average is $279.47 and its two-hundred day moving average is $279.78. The company has a market capitalization of $35.77 billion, a P/E ratio of 39.52, a P/E/G ratio of 3.53 and a beta of 1.38.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.36. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the firm posted $2.50 EPS. The business’s revenue was down 5.9% on a year-over-year basis. Analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be given a $1.31 dividend. The ex-dividend date is Monday, August 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.65%. Rockwell Automation’s dividend payout ratio (DPR) is 65.99%.

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.