Louisiana State Employees Retirement System Increases Stake in Rockwell Automation, Inc. (NYSE:ROK)

Posted by Defense World Staff on Jul 3rd, 2023

Louisiana State Employees Retirement System increased its stake in shares of Rockwell Automation, Inc. (NYSE:ROK – Free Report) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,500 shares of the industrial products company’s stock after acquiring an additional 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Rockwell Automation were worth $2,201,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. New Hampshire Trust bought a new stake in shares of Rockwell Automation in the 4th quarter valued at about $26,000. MinichMacGregor Wealth Management LLC purchased a new stake in Rockwell Automation in the 4th quarter worth $27,000. Clear Street Markets LLC acquired a new stake in Rockwell Automation during the 4th quarter worth $30,000. Delta Asset Management LLC TN acquired a new stake in Rockwell Automation during the 4th quarter worth $32,000. Finally, First Manhattan Co. boosted its position in shares of Rockwell Automation by 150.0% during the 4th quarter. First Manhattan Co. now owns 125 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 79.28% of the company’s stock.

Analysts Set New Price Targets

ROK has been the subject of several research analyst reports. Barclays increased their target price on shares of Rockwell Automation from $250.00 to $262.00 in a research note on Friday, April 28th. Jefferies Financial Group initiated coverage on shares of Rockwell Automation in a report on Tuesday, June 27th. They set a “hold” rating and a $335.00 price objective on the stock. StockNews.com began coverage on shares of Rockwell Automation in a report on Thursday, May 18th. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft raised their target price 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. Finally, Sanford C. Bernstein raised their target price on shares of Rockwell Automation from $250.00 to $290.00 in a research report on Thursday, May 11th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $275.63.

Rockwell Automation Trading Up 1.6 %

Shares of ROK stock opened at $329.45 on Monday. The firm has a 50-day moving average price of $292.40 and a 200 day moving average price of $283.96. Rockwell Automation, Inc. has a twelve month low of $192.90 and a twelve month high of $331.40. The company has a market capitalization of $37.85 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 2.42 and a beta of 1.45. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 0.83.

Rockwell Automation (NYSE:ROK – Free Report) last announced its earnings results on Thursday, April 27th. The industrial products company reported $3.01 earnings per share for the quarter, beating 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 the consensus estimate of $2.09 billion. During the same quarter in the previous year, the company posted $1.66 EPS. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. Research analysts forecast that Rockwell Automation, Inc. will post 12.01 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Monday, August 14th will be issued a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Friday, August 11th. Rockwell Automation’s payout ratio is currently 41.55%.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, VP John M. Miller sold 556 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was 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 owns 4,281 shares in the company, valued at approximately $1,194,784.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Scott Genereux sold 500 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $280.00, for a total value of $140,000.00. Following the completion of the transaction, the vice president now owns 3,376 shares in the company, valued at approximately $945,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John M. Miller sold 556 shares of the stock in a transaction dated Tuesday, May 2nd. The stock was 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 of the company’s stock, valued at $1,194,784.29. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,217 shares of company stock worth $4,687,705. 0.64% of the stock is currently owned by company insiders.

Rockwell Automation Company Profile

(Free Report)

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.