Rockwell Automation, Inc. (NYSE:ROK) Shares Acquired by Macquarie Group Ltd.

Posted by on Mar 10th, 2023

Macquarie Group Ltd. grew its stake in Rockwell Automation, Inc. (NYSE:ROK – Get Rating) by 12.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,711 shares of the industrial products company’s stock after purchasing an additional 1,367 shares during the period. Macquarie Group Ltd.’s holdings in Rockwell Automation were worth $2,734,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Neo Ivy Capital Management acquired a new position in shares of Rockwell Automation in the second quarter valued at approximately $29,000. BDO Wealth Advisors LLC increased its holdings in shares of Rockwell Automation by 103.8% in the third quarter. BDO Wealth Advisors LLC now owns 163 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 83 shares during the period. Money Concepts Capital Corp grew its holdings in Rockwell Automation by 1,445.5% during the third quarter. Money Concepts Capital Corp now owns 170 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 159 shares during the period. Eagle Bay Advisors LLC purchased a new position in Rockwell Automation in the second quarter worth $39,000. Finally, Quent Capital LLC lifted its holdings in Rockwell Automation by 30.7% in the third quarter. Quent Capital LLC now owns 200 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 77.66% of the company’s stock.

Rockwell Automation Price Performance

Rockwell Automation stock opened at $298.92 on Friday. Rockwell Automation, Inc. has a 12-month low of $190.08 and a 12-month high of $309.36. The stock has a market capitalization of $34.31 billion, a P/E ratio of 32.39, a P/E/G ratio of 2.76 and a beta of 1.44. The firm’s 50-day moving average is $284.23 and its two-hundred day moving average is $259.62. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.03 and a quick ratio of 0.69.

Rockwell Automation (NYSE:ROK – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.65. Rockwell Automation had a net margin of 13.63% and a return on equity of 38.70%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period last year, the company earned $2.14 EPS. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities analysts predict that Rockwell Automation, Inc. will post 11.18 earnings per share for the current year.

Rockwell Automation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Shareholders of record on Tuesday, February 21st will be paid a dividend of $1.18 per share. The ex-dividend date of this dividend is Friday, February 17th. This represents a $4.72 annualized dividend and a dividend yield of 1.58%. Rockwell Automation’s dividend payout ratio is currently 51.14%.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Tessa M. Myers sold 4,534 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $290.49, for a total transaction of $1,317,081.66. Following the sale, the senior vice president now directly owns 1,206 shares of the company’s stock, valued at approximately $350,330.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Blake D. Moret sold 1,183 shares of the firm’s stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $258.55, for a total value of $305,864.65. Following the sale, the chief executive officer now directly owns 67,580 shares of the company’s stock, valued at $17,472,809. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Tessa M. Myers sold 4,534 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $290.49, for a total transaction of $1,317,081.66. Following the completion of the sale, the senior vice president now directly owns 1,206 shares in the company, valued at $350,330.94. The disclosure for this sale can be found here. Insiders have sold 12,666 shares of company stock valued at $3,614,143 in the last ninety days. Insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ROK shares. StockNews.com raised shares of Rockwell Automation from a “hold” rating to a “buy” rating in a research note on Friday, January 27th. Cowen increased their price target on shares of Rockwell Automation from $200.00 to $220.00 and gave the company an “underperform” rating in a report on Monday, January 30th. Barclays increased their price target on shares of Rockwell Automation from $220.00 to $250.00 and gave the company an “equal weight” rating in a report on Friday, January 27th. Oppenheimer increased their price target on shares of Rockwell Automation from $278.00 to $290.00 and gave the company an “outperform” rating in a report on Tuesday, January 24th. Finally, Wells Fargo & Company increased their price target on shares of Rockwell Automation from $233.00 to $249.00 and gave the company an “underweight” rating in a report on Thursday, January 19th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $263.24.

Rockwell Automation Company Profile

(Get Rating)

Rockwell Automation, Inc engages in the provision of industrial automation and information services. It operates through the following segments: Intelligent Devices, Software and Control, and Lifecycle Services. The Intelligent Devices segment combines a comprehensive portfolio of smart products that create the foundation of an agile, resilient, and sustainable production system.

Featured Articles

Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

Receive News & Ratings for Rockwell Automation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rockwell Automation and related companies with MarketBeat.com's FREE daily email newsletter.