Chemung Canal Trust Co. Cuts Stake in Rockwell Automation, Inc. (NYSE:ROK)

Chemung Canal Trust Co. reduced its stake in Rockwell Automation, Inc. (NYSE:ROK) by 86.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 2,000 shares of the industrial products company’s stock after selling 12,871 shares during the quarter. Chemung Canal Trust Co.’s holdings in Rockwell Automation were worth $583,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bruce G. Allen Investments LLC purchased a new position in shares of Rockwell Automation in the 4th quarter worth about $27,000. Riverview Trust Co purchased a new position in shares of Rockwell Automation in the 1st quarter worth about $28,000. Security National Bank purchased a new position in shares of Rockwell Automation in the 4th quarter worth about $40,000. Cooksen Wealth LLC purchased a new position in shares of Rockwell Automation in the 4th quarter worth about $40,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Rockwell Automation in the 4th quarter worth about $46,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on ROK. Loop Capital lowered their price objective on Rockwell Automation from $300.00 to $290.00 and set a “hold” rating on the stock in a research note on Tuesday, May 14th. Berenberg Bank restated a “hold” rating and issued a $290.00 price objective (down from $330.00) on shares of Rockwell Automation in a research note on Wednesday, March 6th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $254.00 price objective on shares of Rockwell Automation in a research note on Thursday, March 21st. Robert W. Baird lowered their price objective on Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Finally, Wells Fargo & Company lowered their price objective on Rockwell Automation from $320.00 to $312.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $305.08.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, SVP Cyril Perducat sold 659 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $260.11, for a total value of $171,412.49. Following the completion of the sale, the senior vice president now owns 4,630 shares of the company’s stock, valued at $1,204,309.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Rockwell Automation news, SVP Cyril Perducat sold 659 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $260.11, for a total value of $171,412.49. Following the completion of the sale, the senior vice president now owns 4,630 shares of the company’s stock, valued at $1,204,309.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP John M. Miller sold 467 shares of the company’s stock in a transaction that occurred on 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. Over the last 90 days, insiders sold 2,199 shares of company stock valued at $572,750. 0.68% of the stock is owned by corporate insiders.

Rockwell Automation Stock Up 2.8 %

Shares of NYSE ROK opened at $275.28 on Friday. Rockwell Automation, Inc. has a 12 month low of $249.00 and a 12 month high of $348.52. The company has a current ratio of 1.11, a quick ratio of 0.74 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $31.38 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 4.30 and a beta of 1.37. The business has a 50-day moving average of $266.26 and a 200-day moving average of $281.59.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $2.50 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the firm earned $3.01 earnings per share. Rockwell Automation’s revenue was down 6.6% on a year-over-year basis. Sell-side analysts expect that Rockwell Automation, Inc. will post 10.15 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Monday, August 12th. Rockwell Automation’s payout ratio is 48.88%.

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.