Kentucky Retirement Systems Cuts Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Kentucky Retirement Systems trimmed its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 5.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,702 shares of the industrial products company’s stock after selling 473 shares during the period. Kentucky Retirement Systems’ holdings in Rockwell Automation were worth $2,535,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rockwell Automation by 951.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,532,949 shares of the industrial products company’s stock worth $1,611,915,000 after purchasing an additional 5,006,706 shares during the period. Magnetar Financial LLC purchased a new stake in Rockwell Automation in the first quarter worth about $2,817,000. Lazard Asset Management LLC lifted its holdings in Rockwell Automation by 32.0% in the first quarter. Lazard Asset Management LLC now owns 1,510,019 shares of the industrial products company’s stock worth $439,912,000 after buying an additional 365,795 shares during the period. 1832 Asset Management L.P. bought a new position in shares of Rockwell Automation during the first quarter valued at approximately $3,282,000. Finally, Gabelli Funds LLC increased its stake in shares of Rockwell Automation by 3.1% during the first quarter. Gabelli Funds LLC now owns 138,139 shares of the industrial products company’s stock valued at $40,244,000 after purchasing an additional 4,180 shares in the last quarter. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Rockwell Automation Stock Performance

Rockwell Automation stock traded down $6.24 during mid-day trading on Monday, hitting $270.80. The company had a trading volume of 263,922 shares, compared to its average volume of 971,828. 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 company’s fifty day moving average is $265.75 and its 200-day moving average is $276.65. Rockwell Automation, Inc. has a 12-month low of $249.00 and a 12-month high of $339.65. The company has a market capitalization of $30.87 billion, a price-to-earnings ratio of 27.08, a P/E/G ratio of 4.93 and a beta of 1.37.

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, beating analysts’ consensus estimates of $2.15 by $0.35. Rockwell Automation had a net margin of 13.19% and a return on equity of 34.83%. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the company earned $3.01 earnings per share. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. Equities research analysts predict that Rockwell Automation, Inc. will post 10.07 EPS for the current year.

Rockwell Automation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders 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 dividend yield of 1.85%. The ex-dividend date is Monday, August 12th. Rockwell Automation’s payout ratio is 48.88%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Loop Capital decreased their target price on shares of Rockwell Automation from $300.00 to $290.00 and set a “hold” rating for the company in a research note on Tuesday, May 14th. Wells Fargo & Company reduced their price target on shares of Rockwell Automation from $312.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Citigroup reduced their price target on shares of Rockwell Automation from $322.00 to $316.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Robert W. Baird reduced their price target on shares of Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. Finally, Redburn Atlantic assumed coverage on shares of Rockwell Automation in a research report on Monday, July 8th. They set a “neutral” rating and a $256.00 price target for the company. Two investment 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $300.71.

Insider Activity

In related news, SVP Tessa M. Myers sold 528 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $253.78, for a total transaction of $133,995.84. Following the completion of the transaction, the senior vice president now owns 3,718 shares in the company, valued at approximately $943,554.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Tessa M. Myers sold 248 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $256.37, for a total transaction of $63,579.76. Following the transaction, the senior vice president now directly owns 4,246 shares in the company, valued at $1,088,547.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tessa M. Myers sold 528 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $253.78, for a total transaction of $133,995.84. Following the completion of the sale, the senior vice president now owns 3,718 shares of the company’s stock, valued at approximately $943,554.04. The disclosure for this sale can be found here. Insiders have sold 2,199 shares of company stock worth $572,750 in the last quarter. Corporate insiders own 0.68% of the company’s stock.

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.