Rockwell Automation, Inc. (NYSE:ROK) Stock Position Lowered by Hartford Investment Management Co.

Posted by Defense World Staff on Mar 31st, 2023

Hartford Investment Management Co. lessened its position in Rockwell Automation, Inc. (NYSE:ROK – Get Rating) by 24.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,357 shares of the industrial products company’s stock after selling 2,632 shares during the quarter. Hartford Investment Management Co.’s holdings in Rockwell Automation were worth $2,153,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Rockwell Automation by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 13,495,152 shares of the industrial products company’s stock valued at $2,902,943,000 after acquiring an additional 40,192 shares in the last quarter. Amundi lifted its position in shares of Rockwell Automation by 70.1% in the 2nd quarter. Amundi now owns 1,941,741 shares of the industrial products company’s stock valued at $387,703,000 after acquiring an additional 800,290 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Rockwell Automation by 104.1% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 1,498,756 shares of the industrial products company’s stock valued at $322,398,000 after acquiring an additional 764,385 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Rockwell Automation by 2.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,082,189 shares of the industrial products company’s stock valued at $215,691,000 after acquiring an additional 26,780 shares in the last quarter. Finally, Champlain Investment Partners LLC lifted its position in shares of Rockwell Automation by 22.5% in the 2nd quarter. Champlain Investment Partners LLC now owns 1,062,025 shares of the industrial products company’s stock valued at $211,672,000 after acquiring an additional 195,200 shares in the last quarter. Hedge funds and other institutional investors own 77.66% of the company’s stock.

Rockwell Automation Price Performance

Shares of NYSE:ROK opened at $287.53 on Friday. The company has a market cap of $33.00 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 2.57 and a beta of 1.44. The business has a 50 day moving average price of $287.57 and a 200 day moving average price of $263.79. The company has a quick ratio of 0.69, a current ratio of 1.03 and a debt-to-equity ratio of 0.90. Rockwell Automation, Inc. has a twelve month low of $190.08 and a twelve month high of $309.36.

Rockwell Automation (NYSE:ROK – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The industrial products company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.65. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.93 billion. Rockwell Automation had a return on equity of 38.70% and a net margin of 13.63%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.14 earnings per share. Research analysts predict that Rockwell Automation, Inc. will post 11.21 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Tuesday, February 21st were issued a dividend of $1.18 per share. The ex-dividend date of this dividend was Friday, February 17th. This represents a $4.72 annualized dividend and a dividend yield of 1.64%. Rockwell Automation’s payout ratio is 51.14%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ROK. Barclays increased their target price on shares of Rockwell Automation from $220.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Friday, January 27th. Mizuho increased their target price on shares of Rockwell Automation from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 27th. StockNews.com began coverage on shares of Rockwell Automation in a research report on Thursday, March 16th. They issued a “buy” rating for the company. The Goldman Sachs Group increased their target price on shares of Rockwell Automation from $238.00 to $272.00 and gave the stock a “sell” rating in a research report on Friday, January 27th. Finally, Oppenheimer increased their target price on shares of Rockwell Automation from $278.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 24th. Four analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $263.24.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, VP Scott Genereux sold 943 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $286.05, for a total value of $269,745.15. Following the completion of the sale, the vice president now owns 3,876 shares in the company, valued at approximately $1,108,729.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Isaac Woods sold 100 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $294.33, for a total value of $29,433.00. Following the sale, the vice president now owns 452 shares of the company’s stock, valued at $133,037.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Scott Genereux sold 943 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $286.05, for a total transaction of $269,745.15. Following the transaction, the vice president now owns 3,876 shares of the company’s stock, valued at approximately $1,108,729.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,730 shares of company stock worth $3,112,032. 0.64% of the stock is currently owned by company insiders.

About Rockwell Automation

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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.