Huntington National Bank Raises Stake in Rockwell Automation, Inc. (NYSE:ROK)

Huntington National Bank increased its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 0.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 215,920 shares of the industrial products company’s stock after purchasing an additional 921 shares during the quarter. Huntington National Bank owned 0.19% of Rockwell Automation worth $61,708,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. MCF Advisors LLC increased its position in shares of Rockwell Automation by 95.8% in the fourth quarter. MCF Advisors LLC now owns 2,332 shares of the industrial products company’s stock worth $667,000 after acquiring an additional 1,141 shares in the last quarter. Ameritas Advisory Services LLC increased its holdings in Rockwell Automation by 99.1% in the 4th quarter. Ameritas Advisory Services LLC now owns 5,187 shares of the industrial products company’s stock valued at $1,482,000 after purchasing an additional 2,582 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Rockwell Automation by 6.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 34,209 shares of the industrial products company’s stock valued at $9,184,000 after purchasing an additional 1,928 shares in the last quarter. Nordea Investment Management AB raised its position in Rockwell Automation by 5.9% in the fourth quarter. Nordea Investment Management AB now owns 462,537 shares of the industrial products company’s stock valued at $132,554,000 after purchasing an additional 25,882 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Rockwell Automation by 7.3% during the third quarter. Wellington Management Group LLP now owns 789 shares of the industrial products company’s stock worth $212,000 after purchasing an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

Shares of NYSE ROK opened at $258.68 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 1.08 and a debt-to-equity ratio of 0.72. The firm’s 50-day moving average price is $277.71 and its two-hundred day moving average price is $278.88. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $308.70. The stock has a market capitalization of $29.25 billion, a P/E ratio of 32.21, a P/E/G ratio of 3.53 and a beta of 1.39.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Monday, February 10th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. As a group, sell-side analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a $1.31 dividend. This represents a $5.24 annualized dividend and a yield of 2.03%. Rockwell Automation’s dividend payout ratio (DPR) is 65.26%.

Analyst Upgrades and Downgrades

ROK has been the topic of several analyst reports. Wells Fargo & Company raised their target price on Rockwell Automation from $315.00 to $337.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Jefferies Financial Group raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and boosted their target price for the stock from $290.00 to $350.00 in a research report on Thursday, December 12th. Barclays lowered their price target on shares of Rockwell Automation from $285.00 to $280.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Citigroup upped their price objective on shares of Rockwell Automation from $345.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, BNP Paribas downgraded Rockwell Automation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rockwell Automation presently has a consensus rating of “Hold” and a consensus price target of $307.42.

Insider Buying and Selling at Rockwell Automation

In other news, VP Terry L. Riesterer sold 850 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $300.21, for a total value of $255,178.50. Following the completion of the sale, the vice president now directly owns 1,633 shares of the company’s stock, valued at approximately $490,242.93. This represents a 34.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Isaac Woods sold 895 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $274.72, for a total transaction of $245,874.40. Following the transaction, the vice president now owns 1,198 shares in the company, valued at $329,114.56. This represents a 42.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,352 shares of company stock worth $1,246,298. 0.68% of the stock is owned by company insiders.

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.