Parsons Capital Management Inc. RI Decreases Stake in Rockwell Automation, Inc. (NYSE:ROK)

Parsons Capital Management Inc. RI lessened its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,022 shares of the industrial products company’s stock after selling 50 shares during the period. Parsons Capital Management Inc. RI’s holdings in Rockwell Automation were worth $292,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Marshall Wace LLP grew its position in shares of Rockwell Automation by 70.5% in the second quarter. Marshall Wace LLP now owns 11,400 shares of the industrial products company’s stock valued at $3,138,000 after purchasing an additional 4,713 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Rockwell Automation by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 70,288 shares of the industrial products company’s stock valued at $19,345,000 after buying an additional 284 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Rockwell Automation in the 2nd quarter worth $1,349,000. Ascent Group LLC raised its holdings in shares of Rockwell Automation by 23.6% during the 2nd quarter. Ascent Group LLC now owns 3,285 shares of the industrial products company’s stock worth $904,000 after acquiring an additional 627 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of Rockwell Automation by 0.7% during the 2nd quarter. NewEdge Advisors LLC now owns 19,882 shares of the industrial products company’s stock valued at $5,473,000 after acquiring an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Down 0.7 %

Shares of NYSE ROK opened at $282.27 on Wednesday. The stock has a market cap of $31.90 billion, a P/E ratio of 34.09, a PEG ratio of 3.11 and a beta of 1.36. The business’s fifty day simple moving average is $288.52 and its 200-day simple moving average is $275.32. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $307.71. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter last year, the business posted $3.64 EPS. The business’s quarterly revenue was down 20.6% compared to the same quarter last year. As a group, equities analysts predict that Rockwell Automation, Inc. will post 9.32 EPS for the current fiscal year.

Rockwell Automation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a $1.31 dividend. The ex-dividend date was Monday, November 18th. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.86%. Rockwell Automation’s dividend payout ratio is currently 63.29%.

Insider Activity

In other Rockwell Automation news, VP Scott Genereux sold 278 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $302.04, for a total value of $83,967.12. Following the sale, the vice president now directly owns 3,184 shares in the company, valued at $961,695.36. This trade represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Blake D. Moret sold 26,700 shares of Rockwell Automation stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $298.63, for a total value of $7,973,421.00. Following the sale, the chief executive officer now directly owns 78,115 shares of the company’s stock, valued at $23,327,482.45. This trade represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,436 shares of company stock worth $10,832,549. 0.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Stephens upgraded shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $275.00 to $350.00 in a research report on Thursday, January 16th. Wells Fargo & Company lifted their price target on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Oppenheimer increased their price objective on Rockwell Automation from $288.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Bank of America lifted their target price on Rockwell Automation from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group upgraded Rockwell Automation from a “hold” rating to a “buy” rating and increased their price target for the stock from $290.00 to $350.00 in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $304.16.

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.