Monetta Financial Services Inc. Takes $800,000 Position in Rockwell Automation, Inc. (NYSE:ROK)

Monetta Financial Services Inc. purchased a new stake in Rockwell Automation, Inc. (NYSE:ROK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,800 shares of the industrial products company’s stock, valued at approximately $800,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ROK. Empowered Funds LLC increased its stake in shares of Rockwell Automation by 14.0% in the 3rd quarter. Empowered Funds LLC now owns 6,938 shares of the industrial products company’s stock valued at $1,863,000 after purchasing an additional 851 shares during the last quarter. Quest Partners LLC bought a new position in shares of Rockwell Automation in the 3rd quarter valued at $537,000. Prospera Financial Services Inc increased its stake in shares of Rockwell Automation by 0.9% in the 3rd quarter. Prospera Financial Services Inc now owns 4,033 shares of the industrial products company’s stock valued at $1,083,000 after purchasing an additional 37 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of Rockwell Automation in the 3rd quarter valued at $137,000. Finally, Darwin Wealth Management LLC bought a new position in shares of Rockwell Automation in the 3rd quarter valued at $34,000. Institutional investors own 75.75% of the company’s stock.

Insider Activity at Rockwell Automation

In related news, VP Isaac Woods sold 895 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $274.72, for a total value of $245,874.40. Following the completion of the sale, the vice president now directly owns 1,198 shares of the company’s stock, valued at $329,114.56. The trade was a 42.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Terry L. Riesterer sold 850 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $300.21, for a total value of $255,178.50. Following the completion of the sale, the vice president now directly owns 1,633 shares of the company’s stock, valued at $490,242.93. The trade was a 34.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,352 shares of company stock valued at $1,246,298 in the last three months. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ROK. The Goldman Sachs Group raised their price objective on Rockwell Automation from $257.00 to $290.00 and gave the company a “sell” rating in a report on Tuesday, February 11th. Citigroup raised their price objective on Rockwell Automation from $345.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. HSBC raised Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 price objective on the stock in a report on Wednesday, December 11th. Oppenheimer raised their price objective on Rockwell Automation from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Finally, BNP Paribas downgraded Rockwell Automation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rockwell Automation currently has an average rating of “Hold” and a consensus price target of $307.68.

Rockwell Automation Stock Down 0.8 %

Shares of NYSE:ROK opened at $257.91 on Friday. The company has a market capitalization of $29.16 billion, a price-to-earnings ratio of 32.12, a P/E/G ratio of 3.53 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.08 and a quick ratio of 0.72. The business’s 50-day moving average is $280.42 and its 200-day moving average is $278.41. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $308.70.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Monday, February 10th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. Equities research analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th were paid a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Tuesday, February 18th. Rockwell Automation’s dividend payout ratio is 65.26%.

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.