American International Group Inc. Boosts Holdings in Rockwell Automation, Inc. (NYSE:ROK)

American International Group Inc. increased its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,730 shares of the industrial products company’s stock after purchasing an additional 308 shares during the period. American International Group Inc.’s holdings in Rockwell Automation were worth $9,852,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new position in Rockwell Automation in the 4th quarter worth approximately $27,000. Provence Wealth Management Group purchased a new position in Rockwell Automation in the 3rd quarter worth approximately $27,000. Security National Bank bought a new stake in Rockwell Automation in the 4th quarter worth approximately $40,000. Fortitude Family Office LLC bought a new stake in Rockwell Automation in the 4th quarter worth approximately $46,000. Finally, Cape Investment Advisory Inc. bought a new stake in Rockwell Automation in the 4th quarter worth approximately $54,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Price Performance

Shares of ROK stock opened at $260.31 on Wednesday. Rockwell Automation, Inc. has a 1-year low of $249.00 and a 1-year high of $348.52. The stock’s 50-day moving average is $268.74 and its 200 day moving average is $282.38. The company has a market cap of $29.68 billion, a P/E ratio of 25.45, a PEG ratio of 3.97 and a beta of 1.38. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.11 and a quick ratio of 0.74.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.35. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the company earned $3.01 earnings per share. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. Research analysts predict that Rockwell Automation, Inc. will post 10.14 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 12th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Monday, August 12th. Rockwell Automation’s payout ratio is currently 48.88%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Barclays reduced their price objective on Rockwell Automation from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 4th. Robert W. Baird cut their price objective on Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. Loop Capital cut their price objective on Rockwell Automation from $300.00 to $290.00 and set a “hold” rating on the stock in a research report on Tuesday, May 14th. Berenberg Bank reaffirmed a “hold” rating and issued a $290.00 price objective (down previously from $330.00) on shares of Rockwell Automation in a research report on Wednesday, March 6th. Finally, Wells Fargo & Company cut their price objective on Rockwell Automation from $320.00 to $312.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Rockwell Automation currently has an average rating of “Hold” and a consensus price target of $307.21.

Insider Activity at Rockwell Automation

In related news, SVP Tessa M. Myers sold 248 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $256.37, for a total transaction of $63,579.76. Following the sale, the senior vice president now owns 4,246 shares of the company’s stock, valued at $1,088,547.02. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Rockwell Automation news, SVP Tessa M. Myers sold 248 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $256.37, for a total value of $63,579.76. Following the completion of the sale, the senior vice president now owns 4,246 shares of the company’s stock, valued at $1,088,547.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP John M. Miller sold 467 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $273.27, for a total value of $127,617.09. Following the completion of the sale, the vice president now directly owns 4,800 shares of the company’s stock, valued at approximately $1,311,696. The disclosure for this sale can be found here. Insiders have sold a total of 2,199 shares of company stock valued at $572,750 over the last quarter. 0.68% of the stock is owned by corporate insiders.

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.