Trueblood Wealth Management LLC Has $392,000 Position in Rockwell Automation, Inc. (NYSE:ROK)

Trueblood Wealth Management LLC lessened its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 7.3% in the first quarter, Holdings Channel reports. The institutional investor owned 1,518 shares of the industrial products company’s stock after selling 119 shares during the period. Trueblood Wealth Management LLC’s holdings in Rockwell Automation were worth $392,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bank of Jackson Hole Trust bought a new stake in Rockwell Automation in the fourth quarter valued at $34,000. SBI Securities Co. Ltd. purchased a new position in shares of Rockwell Automation in the 4th quarter worth about $35,000. Parvin Asset Management LLC purchased a new position in shares of Rockwell Automation in the 4th quarter worth about $36,000. Flagship Wealth Advisors LLC purchased a new stake in Rockwell Automation during the fourth quarter valued at about $38,000. Finally, Knuff & Co LLC lifted its holdings in Rockwell Automation by 41.0% during the fourth quarter. Knuff & Co LLC now owns 141 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 41 shares during the last quarter. Institutional investors own 75.75% of the company’s stock.

Insider Activity

In other news, VP Terry L. Riesterer sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $304.13, for a total value of $760,325.00. Following the transaction, the vice president now owns 1,033 shares in the company, valued at $314,166.29. This trade represents a 70.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Matthew W. Fordenwalt sold 500 shares of Rockwell Automation stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $295.01, for a total value of $147,505.00. Following the transaction, the senior vice president now owns 2,838 shares in the company, valued at approximately $837,238.38. The trade was a 14.98% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,681 shares of company stock valued at $2,382,987. Company insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ROK. TD Cowen upgraded Rockwell Automation from a “sell” rating to a “hold” rating and set a $275.00 price target on the stock in a research report on Friday, May 9th. BNP Paribas raised Rockwell Automation from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 9th. Loop Capital increased their price objective on Rockwell Automation from $280.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, May 15th. Oppenheimer increased their price objective on Rockwell Automation from $258.00 to $304.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Finally, Wells Fargo & Company raised their price target on Rockwell Automation from $265.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $316.21.

Rockwell Automation Trading Down 0.1%

Shares of NYSE ROK opened at $325.06 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.08 and a quick ratio of 0.72. The stock has a market capitalization of $36.64 billion, a P/E ratio of 40.48, a price-to-earnings-growth ratio of 3.53 and a beta of 1.38. Rockwell Automation, Inc. has a 1-year low of $215.00 and a 1-year high of $328.90. The business has a fifty day moving average price of $275.52 and a 200 day moving average price of $279.56.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.36. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period last year, the business posted $2.50 earnings per share. The firm’s revenue was down 5.9% compared to the same quarter last year. Equities research analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Monday, May 19th. Rockwell Automation’s dividend payout ratio is presently 65.99%.

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.