Enterprise Bank & Trust Co trimmed its position in Rockwell Automation, Inc. (NYSE:ROK – Get Rating) by 47.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 749 shares of the industrial products company’s stock after selling 676 shares during the period. Enterprise Bank & Trust Co’s holdings in Rockwell Automation were worth $210,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of ROK. Capital World Investors boosted its holdings in shares of Rockwell Automation by 35.2% during the 4th quarter. Capital World Investors now owns 4,892,850 shares of the industrial products company’s stock worth $1,706,871,000 after purchasing an additional 1,272,634 shares during the last quarter. State Street Corp boosted its holdings in shares of Rockwell Automation by 2.6% during the 4th quarter. State Street Corp now owns 4,846,228 shares of the industrial products company’s stock worth $1,690,607,000 after purchasing an additional 120,708 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Rockwell Automation by 9.8% during the 4th quarter. Alliancebernstein L.P. now owns 1,461,253 shares of the industrial products company’s stock worth $509,758,000 after purchasing an additional 130,498 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Rockwell Automation by 16.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,349,037 shares of the industrial products company’s stock worth $470,612,000 after purchasing an additional 191,618 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Rockwell Automation by 2.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,149,342 shares of the industrial products company’s stock worth $400,949,000 after purchasing an additional 32,860 shares during the last quarter. Institutional investors and hedge funds own 78.21% of the company’s stock.
Rockwell Automation stock opened at $195.66 on Thursday. Rockwell Automation, Inc. has a 12-month low of $190.08 and a 12-month high of $354.99. The company has a market capitalization of $22.75 billion, a price-to-earnings ratio of 35.57, a price-to-earnings-growth ratio of 1.98 and a beta of 1.42. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.09 and a quick ratio of 0.78. The firm’s fifty day moving average price is $220.36 and its 200 day moving average price is $271.27.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Monday, August 15th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, August 12th. Rockwell Automation’s dividend payout ratio (DPR) is presently 81.45%.
Rockwell Automation announced that its board has approved a stock buyback program on Tuesday, May 3rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to purchase up to 4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
Several research analysts have recently weighed in on ROK shares. JPMorgan Chase & Co. lowered their target price on Rockwell Automation from $220.00 to $200.00 in a report on Thursday, May 5th. Robert W. Baird reduced their price target on shares of Rockwell Automation from $310.00 to $255.00 in a research report on Wednesday, May 4th. Wells Fargo & Company cut their target price on Rockwell Automation from $261.00 to $212.00 in a research report on Wednesday, May 4th. The Goldman Sachs Group cut their target price on Rockwell Automation from $294.00 to $252.00 and set a “sell” rating on the stock in a research report on Thursday, April 7th. Finally, Oppenheimer dropped their price target on shares of Rockwell Automation from $360.00 to $290.00 in a research note on Wednesday, May 4th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $263.06.
In other news, SVP Cyril Perducat sold 664 shares of Rockwell Automation stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $217.75, for a total value of $144,586.00. Following the transaction, the senior vice president now directly owns 1,576 shares of the company’s stock, valued at $343,174. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Patricia A. Watson bought 1,110 shares of the company’s stock in a transaction dated Thursday, May 5th. The stock was purchased at an average cost of $219.58 per share, for a total transaction of $243,733.80. Following the completion of the transaction, the director now owns 4,827 shares of the company’s stock, valued at $1,059,912.66. The disclosure for this purchase can be found here. Insiders own 0.68% of the company’s stock.
Rockwell Automation Company Profile (Get Rating)
Rockwell Automation, Inc provides industrial automation and digital transformation solutions in the United States and internationally. The company operates in three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products, and services.
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