DNB Asset Management AS Trims Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

DNB Asset Management AS trimmed its stake in Rockwell Automation, Inc. (NYSE:ROK) by 5.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,679 shares of the industrial products company’s stock after selling 1,703 shares during the period. DNB Asset Management AS’s holdings in Rockwell Automation were worth $8,170,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new stake in Rockwell Automation during the 1st quarter valued at approximately $26,000. Riverview Trust Co purchased a new stake in shares of Rockwell Automation during the 1st quarter valued at approximately $28,000. Bfsg LLC acquired a new position in shares of Rockwell Automation in the 1st quarter valued at $29,000. ESL Trust Services LLC purchased a new position in shares of Rockwell Automation during the 1st quarter worth approximately $29,000. Finally, Security National Bank acquired a new position in Rockwell Automation in the 4th quarter valued at about $40,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Automation Stock Performance

NYSE:ROK traded up $2.50 during midday trading on Tuesday, reaching $250.77. The stock had a trading volume of 796,413 shares, compared to its average volume of 965,796. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.11 and a quick ratio of 0.74. The firm’s fifty day simple moving average is $265.55 and its 200-day simple moving average is $275.13. The stock has a market capitalization of $28.59 billion, a P/E ratio of 24.56, a PEG ratio of 4.71 and a beta of 1.37. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $317.74.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.35. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.05 billion. Rockwell Automation had a net margin of 13.19% and a return on equity of 34.83%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.01 earnings per share. On average, equities research analysts forecast that Rockwell Automation, Inc. will post 10.07 EPS for the current fiscal year.

Rockwell Automation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be paid a dividend of $1.25 per share. The ex-dividend date is Monday, August 12th. This represents a $5.00 annualized dividend and a dividend yield of 1.99%. Rockwell Automation’s dividend payout ratio (DPR) is currently 48.88%.

Insider Activity

In other news, SVP Tessa M. Myers sold 528 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total transaction of $133,995.84. Following the completion of the transaction, the senior vice president now directly owns 3,718 shares in the company, valued at approximately $943,554.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, VP John M. Miller sold 467 shares of Rockwell Automation stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $273.27, for a total value of $127,617.09. Following the completion of the transaction, the vice president now owns 4,800 shares of the company’s stock, valued at approximately $1,311,696. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Tessa M. Myers sold 528 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total transaction of $133,995.84. Following the sale, the senior vice president now owns 3,718 shares of the company’s stock, valued at $943,554.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,199 shares of company stock valued at $572,750. Company insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Redburn Atlantic assumed coverage on shares of Rockwell Automation in a research report on Monday, July 8th. They issued a “neutral” rating and a $256.00 price objective on the stock. Barclays reduced their price objective on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Loop Capital dropped their price target on shares of Rockwell Automation from $300.00 to $290.00 and set a “hold” rating on the stock in a research note on Tuesday, May 14th. Mizuho decreased their target price on shares of Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Finally, Robert W. Baird lowered their price target on Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $294.17.

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.