Rockwell Automation, Inc. (NYSE:ROK) Shares Sold by ProVise Management Group LLC

ProVise Management Group LLC decreased its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 10.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,447 shares of the industrial products company’s stock after selling 174 shares during the period. ProVise Management Group LLC’s holdings in Rockwell Automation were worth $414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in ROK. Amundi grew its stake in shares of Rockwell Automation by 26.2% during the 4th quarter. Amundi now owns 2,073,594 shares of the industrial products company’s stock worth $580,095,000 after purchasing an additional 430,498 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Rockwell Automation by 33.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,556,292 shares of the industrial products company’s stock valued at $417,802,000 after buying an additional 390,784 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Rockwell Automation during the 4th quarter valued at approximately $56,887,000. Raymond James Financial Inc. purchased a new position in shares of Rockwell Automation during the 4th quarter valued at approximately $32,532,000. Finally, Thrivent Financial for Lutherans lifted its position in shares of Rockwell Automation by 26.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 514,690 shares of the industrial products company’s stock valued at $147,093,000 after buying an additional 106,257 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Trading Up 0.8 %

Shares of ROK stock opened at $260.19 on Thursday. The company’s 50-day moving average price is $280.85 and its 200-day moving average price is $278.55. 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 stock has a market cap of $29.42 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 3.53 and a beta of 1.39. Rockwell Automation, Inc. has a twelve month low of $242.81 and a twelve month high of $308.70.

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

Rockwell Automation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Tuesday, February 18th were issued a $1.31 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.24 annualized dividend and a yield of 2.01%. Rockwell Automation’s dividend payout ratio (DPR) is currently 65.26%.

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 shares were sold at an average price of $274.72, for a total value of $245,874.40. Following the sale, the vice president now directly owns 1,198 shares in the company, valued at approximately $329,114.56. The trade was a 42.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Scott Genereux sold 500 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $290.14, for a total transaction of $145,070.00. Following the sale, the vice president now owns 1,905 shares in the company, valued at $552,716.70. This trade represents a 20.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,352 shares of company stock worth $1,246,298. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

ROK has been the topic of a number of recent analyst reports. Stephens upgraded Rockwell Automation from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $275.00 to $350.00 in a research report on Thursday, January 16th. Robert W. Baird increased their target price on Rockwell Automation from $305.00 to $315.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. The Goldman Sachs Group increased their target price on Rockwell Automation from $257.00 to $290.00 and gave the company a “sell” rating in a research report on Tuesday, February 11th. HSBC upgraded Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 target price on the stock in a research report on Wednesday, December 11th. Finally, Morgan Stanley raised their price objective on Rockwell Automation from $335.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Rockwell Automation has a consensus rating of “Hold” and an average target price of $307.68.

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.