Pictet Asset Management Holding SA Reduces Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Pictet Asset Management Holding SA reduced its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 15.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 611,398 shares of the industrial products company’s stock after selling 112,111 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.54% of Rockwell Automation worth $174,731,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its position in shares of Rockwell Automation by 70.7% during the third quarter. Larson Financial Group LLC now owns 601 shares of the industrial products company’s stock valued at $161,000 after buying an additional 249 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Rockwell Automation during the 3rd quarter valued at approximately $300,000. The Manufacturers Life Insurance Company grew its holdings in shares of Rockwell Automation by 12.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 79,152 shares of the industrial products company’s stock worth $21,250,000 after acquiring an additional 8,864 shares during the period. Quantbot Technologies LP bought a new position in shares of Rockwell Automation in the 3rd quarter worth approximately $1,780,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Rockwell Automation by 4.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 149,243 shares of the industrial products company’s stock valued at $40,066,000 after purchasing an additional 5,844 shares during the period. 75.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ROK has been the topic of several recent research reports. HSBC raised Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 price target on the stock in a research note on Wednesday, December 11th. Morgan Stanley increased their price target on shares of Rockwell Automation from $335.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Wells Fargo & Company boosted their price objective on shares of Rockwell Automation from $315.00 to $337.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Oppenheimer lifted their target price on shares of Rockwell Automation from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. cut their price target on Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 15th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $307.42.

Rockwell Automation Trading Down 3.7 %

Shares of ROK stock opened at $258.22 on Friday. The stock has a market capitalization of $29.20 billion, a P/E ratio of 32.16, a P/E/G ratio of 3.53 and a beta of 1.39. 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 firm’s 50 day moving average is $278.93 and its 200 day moving average is $278.64. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $308.70.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data 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 return on equity of 30.17% and a net margin of 11.38%. Research analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th were paid a $1.31 dividend. This represents a $5.24 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Tuesday, February 18th. Rockwell Automation’s dividend payout ratio (DPR) is presently 65.26%.

Insider Buying and Selling

In related news, SVP Tessa M. Myers sold 1,231 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $285.43, for a total value of $351,364.33. Following the transaction, the senior vice president now directly owns 3,650 shares of the company’s stock, valued at approximately $1,041,819.50. This trade represents a 25.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Terry L. Riesterer sold 850 shares of the business’s 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 sale, the vice president now directly owns 1,633 shares of the company’s stock, valued at $490,242.93. This represents a 34.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,352 shares of company stock valued at $1,246,298. 0.68% of the stock is owned by insiders.

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.