Corebridge Financial Inc. Sells 3,410 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Corebridge Financial Inc. lowered its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 11.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,864 shares of the industrial products company’s stock after selling 3,410 shares during the period. Corebridge Financial Inc.’s holdings in Rockwell Automation were worth $7,677,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. MCF Advisors LLC grew its holdings in shares of Rockwell Automation by 95.8% during the fourth quarter. MCF Advisors LLC now owns 2,332 shares of the industrial products company’s stock worth $667,000 after purchasing an additional 1,141 shares during the last quarter. Ameritas Advisory Services LLC grew its holdings in Rockwell Automation by 99.1% during the 4th quarter. Ameritas Advisory Services LLC now owns 5,187 shares of the industrial products company’s stock worth $1,482,000 after acquiring an additional 2,582 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Rockwell Automation by 6.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 34,209 shares of the industrial products company’s stock valued at $9,184,000 after acquiring an additional 1,928 shares during the period. Nordea Investment Management AB raised its stake in shares of Rockwell Automation by 5.9% during the fourth quarter. Nordea Investment Management AB now owns 462,537 shares of the industrial products company’s stock valued at $132,554,000 after acquiring an additional 25,882 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Rockwell Automation by 7.3% during the third quarter. Wellington Management Group LLP now owns 789 shares of the industrial products company’s stock worth $212,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds own 75.75% of the company’s stock.

Analyst Upgrades and Downgrades

ROK has been the subject of several analyst reports. Citigroup raised their target price on Rockwell Automation from $345.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. lowered their price objective on Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating for the company in a research report on Wednesday, January 15th. Stephens upgraded Rockwell Automation from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $275.00 to $350.00 in a report on Thursday, January 16th. Jefferies Financial Group upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and raised their price target for the stock from $290.00 to $350.00 in a report on Thursday, December 12th. Finally, The Goldman Sachs Group upped their price objective on shares of Rockwell Automation from $257.00 to $290.00 and gave the company a “sell” rating in a research note on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $307.42.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, VP Terry L. Riesterer sold 850 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $300.21, for a total value of $255,178.50. Following the completion of the sale, the vice president now owns 1,633 shares in the company, valued at approximately $490,242.93. This trade represents a 34.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Tessa M. Myers sold 1,231 shares of Rockwell Automation stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $285.43, for a total transaction of $351,364.33. Following the transaction, the senior vice president now directly owns 3,650 shares in the company, valued at approximately $1,041,819.50. This represents a 25.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,352 shares of company stock valued at $1,246,298. 0.68% of the stock is owned by insiders.

Rockwell Automation Stock Performance

ROK opened at $268.50 on Friday. The company has a market cap of $30.36 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 3.53 and a beta of 1.39. The company’s fifty day moving average price is $279.51 and its two-hundred day moving average price is $278.65. Rockwell Automation, Inc. has a 1-year low of $242.81 and a 1-year high of $308.70. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72.

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%. On average, analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Tuesday, February 18th were given a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Tuesday, February 18th. Rockwell Automation’s payout ratio is currently 65.26%.

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.