Norden Group LLC Buys New Stake in Rockwell Automation, Inc. (NYSE:ROK)

Norden Group LLC purchased a new position in Rockwell Automation, Inc. (NYSE:ROK) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,875 shares of the industrial products company’s stock, valued at approximately $2,003,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROK. Patrick M Sweeney & Associates Inc. bought a new position in shares of Rockwell Automation during the 4th quarter worth approximately $380,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Rockwell Automation by 676.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 32,156 shares of the industrial products company’s stock valued at $9,984,000 after acquiring an additional 28,016 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in shares of Rockwell Automation by 0.9% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 11,423 shares of the industrial products company’s stock valued at $3,266,000 after purchasing an additional 97 shares in the last quarter. Carnegie Capital Asset Management LLC grew its holdings in shares of Rockwell Automation by 5.0% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 85,551 shares of the industrial products company’s stock worth $26,562,000 after purchasing an additional 4,093 shares during the last quarter. Finally, Lincoln National Corp increased its position in shares of Rockwell Automation by 76.5% during the 4th quarter. Lincoln National Corp now owns 3,111 shares of the industrial products company’s stock worth $966,000 after purchasing an additional 1,348 shares in the last quarter. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Trading Up 0.5 %

NYSE:ROK opened at $266.34 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.74 and a debt-to-equity ratio of 0.69. Rockwell Automation, Inc. has a 1-year low of $249.00 and a 1-year high of $348.52. The firm has a market capitalization of $30.36 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 4.40 and a beta of 1.37. The business’s 50-day moving average price is $265.68 and its two-hundred day moving average price is $280.85.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.35. Rockwell Automation had a net margin of 13.19% and a return on equity of 34.83%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the firm earned $3.01 EPS. Rockwell Automation’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, equities analysts expect that Rockwell Automation, Inc. will post 10.15 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 12th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.88%. The ex-dividend date is Monday, August 12th. Rockwell Automation’s payout ratio is presently 48.88%.

Insiders Place Their Bets

In other Rockwell Automation news, VP John M. Miller sold 467 shares of the 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 in the company, valued at $1,311,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP John M. Miller sold 467 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $273.27, for a total value of $127,617.09. Following the sale, the vice president now directly owns 4,800 shares of the company’s stock, valued at approximately $1,311,696. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Cyril Perducat sold 659 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $260.11, for a total value of $171,412.49. Following the transaction, the senior vice president now owns 4,630 shares of the company’s stock, valued at approximately $1,204,309.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,199 shares of company stock worth $572,750. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

ROK has been the subject of a number of research analyst reports. Robert W. Baird cut their target price on shares of Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. Wells Fargo & Company reduced 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. Citigroup lowered their target price on Rockwell Automation from $322.00 to $316.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Barclays reduced their price target on shares of Rockwell Automation from $260.00 to $250.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 4th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $254.00 price objective on shares of Rockwell Automation in a research report on Thursday, March 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $305.08.

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.