Corebridge Financial Inc. Sells 3,410 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Corebridge Financial Inc. decreased its stake in Rockwell Automation, Inc. (NYSE:ROK) by 11.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,864 shares of the industrial products company’s stock after selling 3,410 shares during the period. Corebridge Financial Inc.’s holdings in Rockwell Automation were worth $7,677,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. West Oak Capital LLC raised its holdings in shares of Rockwell Automation by 455.6% in the 4th quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 82 shares during the period. Bank of Jackson Hole Trust bought a new stake in shares of Rockwell Automation in the fourth quarter valued at $34,000. SBI Securities Co. Ltd. bought a new stake in shares of Rockwell Automation in the fourth quarter valued at $35,000. Flagship Wealth Advisors LLC purchased a new position in shares of Rockwell Automation during the 4th quarter valued at $38,000. Finally, Knuff & Co LLC grew its stake in shares of Rockwell Automation by 41.0% during the 4th quarter. Knuff & Co LLC now owns 141 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 41 shares during the period. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Rockwell Automation

In related news, VP Isaac Woods sold 895 shares of Rockwell Automation stock in a transaction on Friday, January 10th. The shares were sold at an average price of $274.72, for a total value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tessa M. Myers sold 1,231 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $285.43, for a total transaction of $351,364.33. Following the sale, the senior vice president now owns 3,650 shares of the company’s stock, valued at approximately $1,041,819.50. The trade was a 25.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,352 shares of company stock valued at $1,246,298. Corporate insiders own 0.68% of the company’s stock.

Rockwell Automation Trading Down 0.3 %

Shares of Rockwell Automation stock opened at $268.50 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.08 and a quick ratio of 0.72. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $308.70. The firm has a market cap of $30.36 billion, a PE ratio of 33.44, a PEG ratio of 3.53 and a beta of 1.39. The company has a 50 day simple moving average of $279.51 and a two-hundred day simple moving average of $278.65.

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, topping 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%. Analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th were given a dividend of $1.31 per share. The ex-dividend date was Tuesday, February 18th. This represents a $5.24 annualized dividend and a dividend yield of 1.95%. Rockwell Automation’s dividend payout ratio (DPR) is presently 65.26%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Rockwell Automation from $315.00 to $337.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Barclays lowered their price target on shares of Rockwell Automation from $285.00 to $280.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Citigroup raised their price objective on shares of Rockwell Automation from $345.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Stephens upgraded shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $275.00 to $350.00 in a research note on Thursday, January 16th. Finally, Loop Capital increased their target price on Rockwell Automation from $260.00 to $280.00 and gave the stock a “hold” rating in a research report on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $307.42.

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.