Rockwell Automation, Inc. (NYSE:ROK) Shares Bought by Moran Wealth Management LLC

Moran Wealth Management LLC increased its stake in Rockwell Automation, Inc. (NYSE:ROK) by 2.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,411 shares of the industrial products company’s stock after purchasing an additional 69 shares during the quarter. Moran Wealth Management LLC’s holdings in Rockwell Automation were worth $689,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Assetmark Inc. grew its position in Rockwell Automation by 5.7% in the third quarter. Assetmark Inc. now owns 2,486 shares of the industrial products company’s stock valued at $667,000 after acquiring an additional 135 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Rockwell Automation during the 3rd quarter valued at $26,000. Wolverine Asset Management LLC purchased a new stake in Rockwell Automation during the 3rd quarter worth $1,611,000. Catalytic Wealth RIA LLC acquired a new position in Rockwell Automation in the 3rd quarter worth $559,000. Finally, Versor Investments LP purchased a new position in Rockwell Automation in the 3rd quarter valued at about $409,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ROK has been the topic of a number of analyst reports. Oppenheimer lifted their target price on Rockwell Automation from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Wells Fargo & Company lifted their price objective on Rockwell Automation from $315.00 to $337.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. HSBC upgraded Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 target price for the company in a research note on Wednesday, December 11th. UBS Group assumed coverage on shares of Rockwell Automation in a research note on Wednesday, November 13th. They set a “neutral” rating and a $313.00 price objective on the stock. Finally, Morgan Stanley upped their target price on shares of Rockwell Automation from $335.00 to $345.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Rockwell Automation has an average rating of “Hold” and an average target price of $307.68.

Rockwell Automation Price Performance

Shares of ROK opened at $265.53 on Wednesday. Rockwell Automation, Inc. has a 12 month low of $242.81 and a 12 month high of $308.70. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.08 and a quick ratio of 0.72. The stock has a fifty day moving average price of $283.55 and a 200 day moving average price of $278.93. The company has a market cap of $30.02 billion, a P/E ratio of 33.07, a PEG ratio of 3.53 and a beta of 1.39.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Monday, February 10th. The industrial products company reported $1.83 EPS for the quarter, topping 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%. On average, research analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were paid a $1.31 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.97%. Rockwell Automation’s payout ratio is currently 65.26%.

Insider Activity

In other news, VP Isaac Woods sold 895 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $274.72, for a total value of $245,874.40. Following the completion of the transaction, the vice president now owns 1,198 shares of the company’s stock, valued at approximately $329,114.56. This represents a 42.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Tessa M. Myers sold 1,231 shares of Rockwell Automation stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $285.43, for a total transaction of $351,364.33. Following the sale, the senior vice president now owns 3,650 shares in the company, valued at approximately $1,041,819.50. This represents a 25.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,352 shares of company stock valued at $1,246,298. Insiders own 0.68% of the company’s stock.

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.