Nemes Rush Group LLC Cuts Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Nemes Rush Group LLC reduced its position in Rockwell Automation, Inc. (NYSE:ROK) by 46.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,024 shares of the industrial products company’s stock after selling 896 shares during the quarter. Nemes Rush Group LLC’s holdings in Rockwell Automation were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Rockwell Automation by 0.9% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,775 shares of the industrial products company’s stock valued at $1,079,000 after purchasing an additional 33 shares in the last quarter. Whittier Trust Co. raised its holdings in Rockwell Automation by 1.9% in the fourth quarter. Whittier Trust Co. now owns 1,896 shares of the industrial products company’s stock valued at $542,000 after buying an additional 35 shares during the period. Bank Pictet & Cie Europe AG lifted its position in Rockwell Automation by 0.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company’s stock valued at $1,199,000 after buying an additional 38 shares in the last quarter. Lake Street Advisors Group LLC grew its stake in Rockwell Automation by 3.0% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,351 shares of the industrial products company’s stock worth $386,000 after buying an additional 39 shares during the period. Finally, Fortitude Advisory Group L.L.C. increased its position in shares of Rockwell Automation by 3.8% in the fourth quarter. Fortitude Advisory Group L.L.C. now owns 1,082 shares of the industrial products company’s stock worth $309,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

Shares of Rockwell Automation stock opened at $258.68 on Wednesday. The firm has a market cap of $29.25 billion, a PE ratio of 32.21, a price-to-earnings-growth ratio of 3.53 and a beta of 1.39. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $308.70. The firm’s 50-day simple moving average is $277.71 and its 200-day simple moving average is $278.88. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.08.

Rockwell Automation (NYSE:ROK) last released its earnings results on Monday, February 10th. The industrial products company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. Equities analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a yield of 2.03%. Rockwell Automation’s dividend payout ratio is presently 65.26%.

Insider Buying and Selling at Rockwell Automation

In related news, VP Scott Genereux sold 500 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $290.14, for a total transaction of $145,070.00. Following the completion of the sale, the vice president now owns 1,905 shares of the company’s stock, valued at $552,716.70. This represents a 20.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tessa M. Myers sold 1,231 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $285.43, for a total transaction of $351,364.33. Following the completion of the transaction, the senior vice president now directly owns 3,650 shares in the company, valued at $1,041,819.50. This represents a 25.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,352 shares of company stock worth $1,246,298 over the last 90 days. Insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

ROK has been the subject of a number of research reports. KeyCorp raised shares of Rockwell Automation from a “sector weight” rating to an “overweight” rating and set a $345.00 price target for the company in a research report on Monday, December 9th. HSBC upgraded Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 price objective on the stock in a research note on Wednesday, December 11th. Loop Capital raised their target price on Rockwell Automation from $260.00 to $280.00 and gave the company a “hold” rating in a report on Tuesday, February 25th. Morgan Stanley upped their price target on Rockwell Automation from $335.00 to $345.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, BNP Paribas downgraded shares of Rockwell Automation from a “strong-buy” rating to a “hold” rating in a research report 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $307.42.

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.