Connable Office Inc. Sells 94 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Connable Office Inc. decreased its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,051 shares of the industrial products company’s stock after selling 94 shares during the period. Connable Office Inc.’s holdings in Rockwell Automation were worth $2,015,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Accredited Investors Inc. increased its holdings in shares of Rockwell Automation by 162,058.5% during the third quarter. Accredited Investors Inc. now owns 1,185,379 shares of the industrial products company’s stock worth $318,227,000 after buying an additional 1,184,648 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Rockwell Automation by 33.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,556,292 shares of the industrial products company’s stock worth $417,802,000 after buying an additional 390,784 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Rockwell Automation during the fourth quarter worth approximately $56,887,000. DAVENPORT & Co LLC increased its holdings in shares of Rockwell Automation by 27.9% during the fourth quarter. DAVENPORT & Co LLC now owns 408,336 shares of the industrial products company’s stock worth $116,682,000 after buying an additional 88,962 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Rockwell Automation by 229.5% during the fourth quarter. Truist Financial Corp now owns 102,347 shares of the industrial products company’s stock worth $29,250,000 after buying an additional 71,288 shares in the last quarter. Institutional investors own 75.75% of the company’s stock.

Analysts Set New Price Targets

ROK has been the subject of several recent analyst reports. Stephens raised shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $275.00 to $350.00 in a report on Thursday, January 16th. 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. JPMorgan Chase & Co. dropped their price objective on shares of Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating for the company in a report on Wednesday, January 15th. HSBC raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 price target for the company in a report on Wednesday, December 11th. Finally, Morgan Stanley raised their price target on shares of Rockwell Automation from $335.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Rockwell Automation currently has a consensus rating of “Hold” and an average price target of $307.55.

Insider Transactions at Rockwell Automation

In related news, CEO Blake D. Moret sold 1,741 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $296.67, for a total value of $516,502.47. Following the sale, the chief executive officer now directly owns 80,309 shares of the company’s stock, valued at approximately $23,825,271.03. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Matheus De A. G. Viera Bulho sold 1,304 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $299.61, for a total transaction of $390,691.44. Following the completion of the sale, the senior vice president now directly owns 1,059 shares in the company, valued at $317,286.99. This represents a 55.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,540 shares of company stock valued at $1,935,134 over the last three months. 0.68% of the stock is currently owned by corporate insiders.

Rockwell Automation Price Performance

ROK opened at $287.51 on Friday. The company has a fifty day moving average price of $286.05 and a two-hundred day moving average price of $278.35. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.08. Rockwell Automation, Inc. has a 52 week low of $242.81 and a 52 week high of $308.70. The firm has a market capitalization of $32.51 billion, a PE ratio of 35.80, a P/E/G ratio of 3.53 and a beta of 1.35.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share 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%. As a group, analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.31 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.82%. Rockwell Automation’s dividend payout ratio is 65.26%.

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.