Schechter Investment Advisors LLC Buys Shares of 800 Rockwell Automation, Inc. (NYSE:ROK)

Posted by Defense World Staff on Jun 11th, 2023

Schechter Investment Advisors LLC bought a new stake in Rockwell Automation, Inc. (NYSE:ROK – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 800 shares of the industrial products company’s stock, valued at approximately $206,000.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Rockwell Automation by 104.1% during 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 purchasing an additional 764,385 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Rockwell Automation by 12.1% during the 4th quarter. JPMorgan Chase & Co. now owns 2,318,468 shares of the industrial products company’s stock valued at $597,168,000 after purchasing an additional 249,857 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Rockwell Automation by 438.1% during the 4th quarter. Handelsbanken Fonder AB now owns 221,004 shares of the industrial products company’s stock valued at $56,924,000 after purchasing an additional 179,931 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Rockwell Automation by 1,178.2% during the 1st quarter. Mackenzie Financial Corp now owns 165,068 shares of the industrial products company’s stock valued at $46,224,000 after purchasing an additional 152,154 shares during the last quarter. Finally, Ceredex Value Advisors LLC bought a new stake in shares of Rockwell Automation during the 4th quarter valued at approximately $35,512,000. 77.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on ROK. Wells Fargo & Company decreased their price target on shares of Rockwell Automation from $245.00 to $238.00 and set an “underweight” rating on the stock in a report on Thursday, April 13th. Morgan Stanley reiterated an “overweight” rating and set a $335.00 target price on shares of Rockwell Automation in a research report on Tuesday, February 14th. Sanford C. Bernstein lifted their target price on shares of Rockwell Automation from $250.00 to $290.00 in a research report on Thursday, May 11th. Mizuho boosted their price target on shares of Rockwell Automation from $260.00 to $270.00 in a research report on Friday, April 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Rockwell Automation from $272.00 to $273.00 and gave the stock a “hold” rating in a research report on Wednesday, April 12th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $271.67.

Insider Buying and Selling

In related news, VP John M. Miller sold 556 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $279.09, for a total value of $155,174.04. Following the transaction, the vice president now directly owns 4,281 shares of the company’s stock, valued at approximately $1,194,784.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP John M. Miller sold 556 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $279.09, for a total value of $155,174.04. Following the transaction, the vice president now directly owns 4,281 shares of the company’s stock, valued at approximately $1,194,784.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Cyril Perducat sold 645 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $289.23, for a total transaction of $186,553.35. Following the completion of the transaction, the senior vice president now directly owns 2,491 shares in the company, valued at $720,471.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,483 shares of company stock valued at $713,640. 0.64% of the stock is owned by insiders.

Rockwell Automation Stock Performance

NYSE ROK opened at $305.50 on Friday. Rockwell Automation, Inc. has a 1 year low of $190.08 and a 1 year high of $309.36. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 0.73. The firm has a market cap of $35.10 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 2.24 and a beta of 1.42. The company has a fifty day moving average price of $280.14 and a 200-day moving average price of $278.08.

Rockwell Automation (NYSE:ROK – Get Rating) last posted its earnings results on Thursday, April 27th. The industrial products company reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $0.41. Rockwell Automation had a net margin of 15.82% and a return on equity of 42.15%. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the business posted $1.66 EPS. The business’s revenue was up 25.8% compared to the same quarter last year. As a group, equities research analysts predict that Rockwell Automation, Inc. will post 12.04 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Investors of record on Monday, May 15th will be issued a $1.18 dividend. This represents a $4.72 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Friday, May 12th. Rockwell Automation’s dividend payout ratio (DPR) is currently 41.55%.

Rockwell Automation 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.