Allstate Corp Purchases Shares of 3,421 Rockwell Automation, Inc. (NYSE:ROK)

Allstate Corp acquired a new stake in shares of Rockwell Automation, Inc. (NYSE:ROK) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,421 shares of the industrial products company’s stock, valued at approximately $978,000.

A number of other institutional investors have also recently made changes to their positions in ROK. DnB Asset Management AS grew its holdings in shares of Rockwell Automation by 56.2% in the fourth quarter. DnB Asset Management AS now owns 48,200 shares of the industrial products company’s stock valued at $13,775,000 after purchasing an additional 17,336 shares in the last quarter. Alerus Financial NA purchased a new position in shares of Rockwell Automation in the 4th quarter worth $5,470,000. Orion Portfolio Solutions LLC grew its stake in shares of Rockwell Automation by 18.9% in the 4th quarter. Orion Portfolio Solutions LLC now owns 12,848 shares of the industrial products company’s stock worth $3,672,000 after buying an additional 2,044 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Rockwell Automation by 0.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 34,356 shares of the industrial products company’s stock worth $9,819,000 after buying an additional 147 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Rockwell Automation during the 4th quarter valued at about $3,437,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Price Performance

ROK opened at $258.42 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. The business’s fifty day simple moving average is $278.36 and its 200-day simple moving average is $278.91. The company has a market capitalization of $29.22 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 3.53 and a beta of 1.39. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $308.70.

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

Rockwell Automation Announces Dividend

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

Insider Buying and Selling at Rockwell Automation

In related news, VP Isaac Woods sold 895 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $274.72, for a total transaction of $245,874.40. Following the sale, the vice president now owns 1,198 shares of the company’s stock, valued at $329,114.56. This trade represents a 42.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Terry L. Riesterer sold 850 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $300.21, for a total transaction of $255,178.50. Following the completion of the transaction, the vice president now owns 1,633 shares of the company’s stock, valued at $490,242.93. This represents a 34.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,352 shares of company stock valued at $1,246,298. 0.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. HSBC raised Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 price objective on the stock in a research note on Wednesday, December 11th. Barclays cut their target price on Rockwell Automation from $285.00 to $280.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. BNP Paribas lowered shares of Rockwell Automation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. reduced their target price on shares of Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company lifted their price target on shares of Rockwell Automation from $315.00 to $337.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Rockwell Automation currently has an average rating of “Hold” and a consensus price target of $307.42.

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.