New York State Common Retirement Fund lessened its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 12.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,339 shares of the industrial products company’s stock after selling 20,400 shares during the period. New York State Common Retirement Fund’s holdings in Rockwell Automation were worth $36,986,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. FMR LLC boosted its stake in Rockwell Automation by 0.6% in the 1st quarter. FMR LLC now owns 119,971 shares of the industrial products company’s stock worth $21,050,000 after purchasing an additional 709 shares in the last quarter. California Public Employees Retirement System boosted its stake in Rockwell Automation by 4.1% in the 4th quarter. California Public Employees Retirement System now owns 277,934 shares of the industrial products company’s stock worth $69,709,000 after purchasing an additional 10,843 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in Rockwell Automation by 2.3% in the 4th quarter. Treasurer of the State of North Carolina now owns 44,461 shares of the industrial products company’s stock worth $11,151,000 after purchasing an additional 1,000 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its stake in Rockwell Automation by 6.9% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 1,109 shares of the industrial products company’s stock worth $278,000 after purchasing an additional 72 shares in the last quarter. Finally, Braun Stacey Associates Inc. bought a new position in Rockwell Automation in the 4th quarter worth about $386,000. Hedge funds and other institutional investors own 75.42% of the company’s stock.
A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Rockwell Automation from $189.00 to $205.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 12th. Oppenheimer upped their price target on shares of Rockwell Automation from $280.00 to $286.00 and gave the stock an “outperform” rating in a research note on Thursday, April 29th. Morgan Stanley boosted their target price on Rockwell Automation from $300.00 to $313.00 and gave the stock an “overweight” rating in a research report on Thursday, April 29th. Barclays boosted their target price on Rockwell Automation from $265.00 to $269.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Rockwell Automation from $242.00 to $268.00 and gave the stock a “hold” rating in a research report on Tuesday, April 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Rockwell Automation has a consensus rating of “Hold” and an average price target of $266.50.
NYSE ROK opened at $281.67 on Friday. Rockwell Automation, Inc. has a 52 week low of $200.60 and a 52 week high of $281.81. The stock has a market cap of $32.70 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 3.00 and a beta of 1.36. The company has a quick ratio of 1.07, a current ratio of 1.39 and a debt-to-equity ratio of 0.93. The company’s 50-day simple moving average is $266.01.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Tuesday, April 27th. The industrial products company reported $2.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.15 by $0.26. Rockwell Automation had a net margin of 25.20% and a return on equity of 57.72%. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the firm earned $2.43 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, analysts forecast that Rockwell Automation, Inc. will post 9.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 10th. Investors of record on Monday, August 16th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Friday, August 13th. Rockwell Automation’s dividend payout ratio is 55.73%.
About Rockwell Automation
Rockwell Automation, Inc provides industrial automation and digital transformation solutions. The company operates in two segments, Architecture & Software, and Control Products & Solutions. The Architecture & Software segment offers a portfolio of automation and information platforms, including hardware and software.
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