CIBC Private Wealth Group LLC Decreases Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

CIBC Private Wealth Group LLC lowered its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 5.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,537 shares of the industrial products company’s stock after selling 320 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Rockwell Automation were worth $1,548,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. MCF Advisors LLC raised its holdings in shares of Rockwell Automation by 95.8% in the fourth quarter. MCF Advisors LLC now owns 2,332 shares of the industrial products company’s stock worth $667,000 after acquiring an additional 1,141 shares during the last quarter. Ameritas Advisory Services LLC raised its stake in Rockwell Automation by 99.1% in the 4th quarter. Ameritas Advisory Services LLC now owns 5,187 shares of the industrial products company’s stock valued at $1,482,000 after purchasing an additional 2,582 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings 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 purchasing an additional 1,928 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Rockwell Automation by 5.9% during the 4th quarter. Nordea Investment Management AB now owns 462,537 shares of the industrial products company’s stock worth $132,554,000 after purchasing an additional 25,882 shares during the last quarter. Finally, Wellington Management Group LLP grew 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 buying an additional 54 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Automation Price Performance

ROK stock opened at $239.18 on Friday. The stock has a 50-day simple moving average of $276.11 and a 200-day simple moving average of $278.48. The firm has a market cap of $27.04 billion, a P/E ratio of 29.79, a price-to-earnings-growth ratio of 3.53 and a beta of 1.39. 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, Inc. has a 1 year low of $237.50 and a 1 year high of $308.70.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Monday, February 10th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.31 per share. The ex-dividend date is Monday, May 19th. This represents a $5.24 annualized dividend and a dividend yield of 2.19%. Rockwell Automation’s dividend payout ratio is presently 65.26%.

Insider Transactions at Rockwell Automation

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ROK. JPMorgan Chase & Co. reduced their price objective on shares of Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 15th. Stephens raised Rockwell Automation from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $275.00 to $350.00 in a research note on Thursday, January 16th. Oppenheimer lifted their price objective on Rockwell Automation from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Wells Fargo & Company increased their target price on Rockwell Automation from $315.00 to $337.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Finally, Jefferies Financial Group upgraded Rockwell Automation from a “hold” rating to a “buy” rating and lifted their price target for the company from $290.00 to $350.00 in a report on Thursday, December 12th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rockwell Automation has a consensus rating of “Hold” and an average price target of $307.42.

Rockwell Automation Company 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.