SouthState Corp Sells 509 Shares of Rockwell Automation, Inc. (NYSE:ROK)

SouthState Corp reduced its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 1.1% during the fourth quarter, Holdings Channel reports. The firm owned 46,175 shares of the industrial products company’s stock after selling 509 shares during the period. SouthState Corp’s holdings in Rockwell Automation were worth $13,196,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. West Oak Capital LLC lifted its position in shares of Rockwell Automation by 455.6% during the fourth quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 82 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in Rockwell Automation during the third quarter worth about $34,000. Bank of Jackson Hole Trust purchased a new stake in Rockwell Automation during the fourth quarter worth about $34,000. SBI Securities Co. Ltd. purchased a new stake in Rockwell Automation during the fourth quarter worth about $35,000. Finally, Knuff & Co LLC increased its holdings in Rockwell Automation by 41.0% during the fourth quarter. Knuff & Co LLC now owns 141 shares of the industrial products company’s stock worth $40,000 after buying an additional 41 shares during the last quarter. 75.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ROK shares. Oppenheimer raised their price objective on shares of Rockwell Automation from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Loop Capital raised their price objective on shares of Rockwell Automation from $260.00 to $280.00 and gave the stock a “hold” rating in a report on Tuesday, February 25th. Stephens upgraded shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $275.00 to $350.00 in a research note on Thursday, January 16th. Robert W. Baird lifted their target price on shares of Rockwell Automation from $305.00 to $315.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Finally, Barclays reduced their target price on shares of Rockwell Automation from $300.00 to $285.00 and set an “equal weight” rating for the company in a research note on Monday, March 10th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Rockwell Automation presently has a consensus rating of “Hold” and an average price target of $307.68.

Rockwell Automation Trading Up 1.9 %

Shares of Rockwell Automation stock opened at $260.09 on Monday. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $308.70. The firm has a market cap of $29.41 billion, a PE ratio of 32.39, a PEG ratio of 3.53 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.08 and a quick ratio of 0.72. The company has a 50 day simple moving average of $282.10 and a two-hundred day simple moving average of $278.81.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.22. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. Analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th were issued a $1.31 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 2.01%. Rockwell Automation’s payout ratio is 65.26%.

Insider Transactions at Rockwell Automation

In other news, VP Scott Genereux sold 500 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $290.14, for a total value of $145,070.00. Following the completion of the sale, the vice president now directly owns 1,905 shares in the company, valued at approximately $552,716.70. The trade was a 20.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Tessa M. Myers sold 1,231 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $285.43, for a total transaction of $351,364.33. Following the completion of the sale, the senior vice president now owns 3,650 shares of the company’s stock, valued at approximately $1,041,819.50. The trade was a 25.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,352 shares of company stock worth $1,246,298. 0.68% of the stock is currently owned by insiders.

Rockwell Automation Company 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.