New York Life Investment Management LLC Has $5.74 Million Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

New York Life Investment Management LLC lifted its stake in Rockwell Automation, Inc. (NYSE:ROK) by 2.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,490 shares of the industrial products company’s stock after purchasing an additional 487 shares during the quarter. New York Life Investment Management LLC’s holdings in Rockwell Automation were worth $5,741,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in Rockwell Automation in the 3rd quarter worth about $26,000. Provence Wealth Management Group purchased a new stake in Rockwell Automation in the 3rd quarter worth about $27,000. Bruce G. Allen Investments LLC purchased a new stake in Rockwell Automation in the 4th quarter worth about $27,000. BluePath Capital Management LLC purchased a new stake in Rockwell Automation in the 3rd quarter worth about $29,000. Finally, Fortitude Family Office LLC purchased a new stake in Rockwell Automation in the 4th quarter worth about $46,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Stock Up 1.5 %

Shares of ROK stock opened at $274.05 on Friday. The stock’s 50 day simple moving average is $282.21 and its 200 day simple moving average is $283.15. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.25. Rockwell Automation, Inc. has a twelve month low of $252.11 and a twelve month high of $348.52. The company has a market capitalization of $31.40 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 2.72 and a beta of 1.43.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.04 earnings per share for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.58). The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.08 billion. Rockwell Automation had a net margin of 13.35% and a return on equity of 37.22%. During the same period in the previous year, the business posted $2.46 earnings per share. As a group, research analysts predict that Rockwell Automation, Inc. will post 11.98 EPS for the current year.

Rockwell Automation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 13th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Friday, May 10th. Rockwell Automation’s dividend payout ratio (DPR) is currently 47.57%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ROK. Mizuho reduced their price objective on Rockwell Automation from $300.00 to $265.00 and set a “neutral” rating for the company in a research note on Thursday, February 1st. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $254.00 price target on shares of Rockwell Automation in a research note on Thursday, March 21st. Wells Fargo & Company cut their price target on Rockwell Automation from $357.00 to $320.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Oppenheimer cut their price target on Rockwell Automation from $324.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, February 1st. Finally, Citigroup cut their price target on Rockwell Automation from $330.00 to $322.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $310.08.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, VP Scott Genereux sold 500 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $290.00, for a total value of $145,000.00. Following the sale, the vice president now owns 2,383 shares of the company’s stock, valued at approximately $691,070. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Scott Genereux sold 500 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $290.00, for a total transaction of $145,000.00. Following the sale, the vice president now directly owns 2,383 shares in the company, valued at $691,070. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Nicholas C. Gangestad sold 1,989 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.17, for a total value of $573,170.13. Following the sale, the chief financial officer now owns 12,217 shares in the company, valued at $3,520,572.89. The disclosure for this sale can be found here. Insiders have sold 17,240 shares of company stock valued at $4,891,324 in the last 90 days. 0.68% of the stock is currently owned by 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.