Franklin Resources Inc. Sells 25,721 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Franklin Resources Inc. lowered its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 567,447 shares of the industrial products company’s stock after selling 25,721 shares during the quarter. Franklin Resources Inc. owned 0.50% of Rockwell Automation worth $162,171,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Townsquare Capital LLC increased its holdings in Rockwell Automation by 13.2% in the 3rd quarter. Townsquare Capital LLC now owns 2,104 shares of the industrial products company’s stock valued at $565,000 after acquiring an additional 245 shares during the last quarter. Public Sector Pension Investment Board lifted its position in shares of Rockwell Automation by 14.0% in the third quarter. Public Sector Pension Investment Board now owns 4,897 shares of the industrial products company’s stock worth $1,315,000 after buying an additional 600 shares in the last quarter. Ascent Group LLC boosted its stake in Rockwell Automation by 7.2% during the third quarter. Ascent Group LLC now owns 3,520 shares of the industrial products company’s stock valued at $945,000 after buying an additional 235 shares during the last quarter. Centiva Capital LP purchased a new position in Rockwell Automation during the 3rd quarter valued at approximately $1,186,000. Finally, Investment Management Corp of Ontario increased its position in Rockwell Automation by 50.9% in the third quarter. Investment Management Corp of Ontario now owns 3,854 shares of the industrial products company’s stock worth $1,035,000 after purchasing an additional 1,300 shares during the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Stock Up 0.8 %

ROK stock opened at $260.75 on Thursday. Rockwell Automation, Inc. has a one year low of $242.81 and a one year high of $308.70. The firm has a market cap of $29.48 billion, a PE ratio of 32.47, a PEG ratio of 3.53 and a beta of 1.39. The firm’s 50 day moving average price is $277.15 and its 200-day moving average price is $278.76. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.08.

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 return on equity of 30.17% and a net margin of 11.38%. On average, equities research analysts anticipate that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 2.01%. Rockwell Automation’s dividend payout ratio is presently 65.26%.

Insider Activity

In related news, VP Terry L. Riesterer sold 850 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $300.21, for a total value of $255,178.50. Following the sale, the vice president now owns 1,633 shares in the company, valued at approximately $490,242.93. The trade was a 34.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Tessa M. Myers sold 1,231 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $285.43, for a total value of $351,364.33. Following the transaction, the senior vice president now owns 3,650 shares of the company’s stock, valued at $1,041,819.50. This trade represents a 25.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,352 shares of company stock valued at $1,246,298. Company insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

ROK has been the topic of several analyst reports. Jefferies Financial Group upgraded Rockwell Automation from a “hold” rating to a “buy” rating and upped their price objective for the company from $290.00 to $350.00 in a research report on Thursday, December 12th. Stephens raised shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $275.00 to $350.00 in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their target price on Rockwell Automation from $257.00 to $290.00 and gave the stock a “sell” rating in a research note on Tuesday, February 11th. Morgan Stanley lifted their target price on Rockwell Automation from $335.00 to $345.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company upped their price target on shares of Rockwell Automation from $315.00 to $337.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $307.42.

Rockwell Automation Company 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.