Raymond James & Associates Has $19.87 Million Stake in Rockwell Automation, Inc. (NYSE:ROK)

Posted by Defense World Staff on May 15th, 2023

Raymond James & Associates boosted its holdings in Rockwell Automation, Inc. (NYSE:ROK – Get Rating) by 0.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,130 shares of the industrial products company’s stock after purchasing an additional 97 shares during the period. Raymond James & Associates owned about 0.07% of Rockwell Automation worth $19,867,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Macquarie Group Ltd. grew its position in shares of Rockwell Automation by 12.1% in the 3rd quarter. Macquarie Group Ltd. now owns 12,711 shares of the industrial products company’s stock valued at $2,734,000 after acquiring an additional 1,367 shares during the period. Ameritas Advisory Services LLC grew its position in shares of Rockwell Automation by 2.5% in the 3rd quarter. Ameritas Advisory Services LLC now owns 4,544 shares of the industrial products company’s stock valued at $977,000 after acquiring an additional 111 shares during the period. California Public Employees Retirement System grew its position in shares of Rockwell Automation by 15.5% in the 3rd quarter. California Public Employees Retirement System now owns 261,836 shares of the industrial products company’s stock valued at $56,324,000 after acquiring an additional 35,222 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Rockwell Automation by 1.8% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 70,778 shares of the industrial products company’s stock valued at $15,225,000 after acquiring an additional 1,284 shares during the period. Finally, Diversified Trust Co grew its position in shares of Rockwell Automation by 22.0% in the 4th quarter. Diversified Trust Co now owns 6,878 shares of the industrial products company’s stock valued at $1,772,000 after acquiring an additional 1,239 shares during the period. Institutional investors own 77.66% of the company’s stock.

Insiders Place Their Bets

In other news, VP John M. Miller sold 556 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $279.09, for a total value of $155,174.04. Following the completion of the transaction, the vice president now directly owns 4,281 shares in the company, valued at $1,194,784.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP John M. Miller sold 556 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $279.09, for a total value of $155,174.04. Following the completion of the sale, the vice president now directly owns 4,281 shares in the company, valued at approximately $1,194,784.29. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Isaac Woods sold 100 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $294.33, for a total transaction of $29,433.00. Following the completion of the sale, the vice president now owns 452 shares of the company’s stock, valued at $133,037.16. The disclosure for this sale can be found here. Insiders sold 2,631 shares of company stock worth $765,751 over the last quarter. 0.64% of the stock is currently owned by company insiders.

Rockwell Automation Price Performance

ROK opened at $271.86 on Monday. The firm has a market cap of $31.23 billion, a P/E ratio of 23.93, a PEG ratio of 2.06 and a beta of 1.42. The firm has a 50-day moving average of $280.87 and a 200 day moving average of $274.44. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.73 and a current ratio of 1.08. Rockwell Automation, Inc. has a fifty-two week low of $190.08 and a fifty-two week high of $309.36.

Rockwell Automation (NYSE:ROK – Get Rating) last issued its earnings results on Thursday, April 27th. The industrial products company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.41. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.09 billion. Rockwell Automation had a net margin of 15.82% and a return on equity of 42.15%. The company’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the business earned $1.66 earnings per share. On average, research analysts expect that Rockwell Automation, Inc. will post 12.06 EPS for the current year.

Rockwell Automation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 12th. Shareholders of record on Monday, May 15th will be given a dividend of $1.18 per share. The ex-dividend date of this dividend is Friday, May 12th. This represents a $4.72 dividend on an annualized basis and a yield of 1.74%. Rockwell Automation’s dividend payout ratio is presently 41.55%.

Wall Street Analyst Weigh In

Several analysts recently commented on ROK shares. Cowen lifted their target price on shares of Rockwell Automation from $200.00 to $220.00 and gave the stock an “underperform” rating in a report on Monday, January 30th. Sanford C. Bernstein lifted their target price on shares of Rockwell Automation from $250.00 to $290.00 in a report on Thursday. Loop Capital lifted their target price on shares of Rockwell Automation from $258.00 to $285.00 in a report on Tuesday, January 31st. Wells Fargo & Company reduced their target price on shares of Rockwell Automation from $245.00 to $238.00 and set an “underweight” rating for the company in a report on Thursday, April 13th. Finally, The Goldman Sachs Group lifted their target price on shares of Rockwell Automation from $238.00 to $272.00 and gave the stock a “sell” rating in a report on Friday, January 27th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $267.50.

Rockwell Automation Company Profile

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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 portfolio of smart products that create the foundation of an agile, resilient, and sustainable production system.