Smithbridge Asset Management Inc. DE Raises Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Smithbridge Asset Management Inc. DE lifted its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,720 shares of the industrial products company’s stock after buying an additional 505 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Rockwell Automation were worth $2,951,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ROK. Louisiana State Employees Retirement System bought a new position in Rockwell Automation in the fourth quarter worth approximately $2,142,000. Vontobel Holding Ltd. grew its stake in Rockwell Automation by 3.1% in the fourth quarter. Vontobel Holding Ltd. now owns 17,820 shares of the industrial products company’s stock worth $5,533,000 after purchasing an additional 543 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Rockwell Automation by 5.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,582 shares of the industrial products company’s stock worth $19,741,000 after purchasing an additional 3,144 shares in the last quarter. Tyche Wealth Partners LLC bought a new position in Rockwell Automation in the fourth quarter worth approximately $373,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in Rockwell Automation by 90.3% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 255 shares of the industrial products company’s stock worth $79,000 after purchasing an additional 121 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 $1.13 during trading hours on Friday, hitting $262.69. 547,393 shares of the stock traded hands, compared to its average volume of 958,344. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $317.74. The firm’s 50 day moving average price is $265.67 and its 200-day moving average price is $272.41. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.11 and a quick ratio of 0.74. The stock has a market capitalization of $29.95 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 4.71 and a beta of 1.37.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.08 by $0.63. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Rockwell Automation had a net margin of 13.19% and a return on equity of 34.83%. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.01 EPS. As a group, equities analysts expect that Rockwell Automation, Inc. will post 10.07 EPS for the current fiscal 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 given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, August 12th. Rockwell Automation’s dividend payout ratio (DPR) is presently 48.88%.

Insider Activity at Rockwell Automation

In other news, SVP Cyril Perducat sold 659 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $260.11, for a total transaction of $171,412.49. Following the completion of the transaction, the senior vice president now directly owns 4,630 shares of the company’s stock, valued at approximately $1,204,309.30. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Cyril Perducat sold 659 shares of Rockwell Automation stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $260.11, for a total value of $171,412.49. Following the sale, the senior vice president now owns 4,630 shares in the company, valued at $1,204,309.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Tessa M. Myers sold 248 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $256.37, for a total transaction of $63,579.76. Following the transaction, the senior vice president now owns 4,246 shares of the company’s stock, valued at approximately $1,088,547.02. The disclosure for this sale can be found here. Insiders sold a total of 1,732 shares of company stock worth $445,133 in the last 90 days. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

ROK has been the topic of several research analyst reports. Robert W. Baird dropped their price objective on Rockwell Automation from $304.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Citigroup dropped their target price on Rockwell Automation from $322.00 to $316.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Oppenheimer dropped their target price on Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. TD Cowen dropped their target price on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Finally, Loop Capital dropped their target price on Rockwell Automation from $300.00 to $290.00 and set a “hold” rating on the stock in a research report on Tuesday, May 14th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $280.14.

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.