Fortitude Advisory Group L.L.C. Increases Position in Rockwell Automation, Inc. (NYSE:ROK)

Fortitude Advisory Group L.L.C. increased its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 3.8% during the 4th quarter, HoldingsChannel reports. The fund owned 1,082 shares of the industrial products company’s stock after acquiring an additional 40 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Rockwell Automation were worth $309,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Richardson Financial Services Inc. boosted its stake in shares of Rockwell Automation by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after buying an additional 48 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Rockwell Automation in the third quarter valued at $26,000. West Oak Capital LLC raised its holdings in Rockwell Automation by 455.6% in the fourth quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 82 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Rockwell Automation during the 3rd quarter valued at $34,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Rockwell Automation during the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

ROK stock opened at $284.31 on Tuesday. The company has a 50-day simple moving average of $288.50 and a 200 day simple moving average of $275.25. The company has a market capitalization of $32.14 billion, a P/E ratio of 34.34, a PEG ratio of 3.11 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.70. Rockwell Automation, Inc. has a fifty-two week low of $242.81 and a fifty-two week high of $307.71.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the business posted $3.64 EPS. The business’s revenue for the quarter was down 20.6% compared to the same quarter last year. Sell-side analysts predict that Rockwell Automation, Inc. will post 9.32 earnings per share for the current fiscal year.

Rockwell Automation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.31 per share. The ex-dividend date of this dividend was Monday, November 18th. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 annualized dividend and a dividend yield of 1.84%. Rockwell Automation’s dividend payout ratio (DPR) is 63.29%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ROK shares. Barclays reduced their price target on shares of Rockwell Automation from $290.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded Rockwell Automation from a “hold” rating to a “buy” rating and lifted their target price for the stock from $290.00 to $350.00 in a research report on Thursday, December 12th. KeyCorp raised Rockwell Automation from a “sector weight” rating to an “overweight” rating and set a $345.00 price target on the stock in a research report on Monday, December 9th. Morgan Stanley lifted their price objective on shares of Rockwell Automation from $320.00 to $335.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, HSBC raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 target price on the stock in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $304.16.

Insider Transactions at Rockwell Automation

In other news, VP Isaac Woods sold 895 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $274.72, for a total transaction of $245,874.40. Following the completion of the transaction, the vice president now owns 1,198 shares in the company, valued at approximately $329,114.56. This trade represents a 42.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Blake D. Moret sold 26,700 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $298.63, for a total transaction of $7,973,421.00. Following the completion of the sale, the chief executive officer now owns 78,115 shares in the company, valued at $23,327,482.45. The trade was a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,436 shares of company stock valued at $10,832,549. Corporate insiders own 0.68% of the company’s stock.

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.