Rockwell Automation, Inc. (NYSE:ROK) Shares Purchased by NorthCrest Asset Manangement LLC

Posted by Defense World Staff on Jul 10th, 2023

NorthCrest Asset Manangement LLC lifted its holdings in Rockwell Automation, Inc. (NYSE:ROK – Free Report) by 0.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,497 shares of the industrial products company’s stock after purchasing an additional 40 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Rockwell Automation were worth $8,656,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ROK. Schechter Investment Advisors LLC acquired a new position in Rockwell Automation in the 4th quarter valued at $206,000. Teacher Retirement System of Texas boosted its stake in shares of Rockwell Automation by 70.3% during the 4th quarter. Teacher Retirement System of Texas now owns 28,468 shares of the industrial products company’s stock worth $7,333,000 after purchasing an additional 11,754 shares during the last quarter. Diversified Trust Co boosted its position in shares of Rockwell Automation by 22.0% in the fourth quarter. Diversified Trust Co now owns 6,878 shares of the industrial products company’s stock worth $1,772,000 after acquiring an additional 1,239 shares during the last quarter. Amalgamated Bank boosted its position in shares of Rockwell Automation by 1.1% in the fourth quarter. Amalgamated Bank now owns 30,786 shares of the industrial products company’s stock worth $7,930,000 after acquiring an additional 330 shares during the last quarter. Finally, Tredje AP fonden boosted its position in shares of Rockwell Automation by 11.2% in the fourth quarter. Tredje AP fonden now owns 6,967 shares of the industrial products company’s stock worth $1,794,000 after acquiring an additional 700 shares during the last quarter. Institutional investors and hedge funds own 79.28% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ROK shares. Sanford C. Bernstein lifted their price target on shares of Rockwell Automation from $250.00 to $290.00 in a research report on Thursday, May 11th. Jefferies Financial Group started coverage on shares of Rockwell Automation in a research report on Tuesday, June 27th. They set a “hold” rating and a $335.00 price target on the stock. StockNews.com cut shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company dropped their price objective on shares of Rockwell Automation from $245.00 to $238.00 and set an “underweight” rating on the stock in a research note on Thursday, April 13th. Finally, 1-800-FLOWERS.COM reiterated an “initiates” rating on shares of Rockwell Automation in a research note on Tuesday, June 27th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $275.63.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Frank C. Kulaszewicz sold 7,729 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $310.00, for a total transaction of $2,395,990.00. Following the sale, the senior vice president now owns 13,660 shares in the company, valued at approximately $4,234,600. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Frank C. Kulaszewicz sold 7,729 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $310.00, for a total value of $2,395,990.00. Following the transaction, the senior vice president now owns 13,660 shares in the company, valued at approximately $4,234,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John M. Miller sold 556 shares of the company’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 completion of the transaction, the vice president now owns 4,281 shares in the company, valued at approximately $1,194,784.29. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,217 shares of company stock worth $4,687,705. Company insiders own 0.64% of the company’s stock.

Rockwell Automation Stock Performance

Shares of ROK opened at $325.38 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.73 and a current ratio of 1.08. The firm has a fifty day moving average of $297.35 and a 200-day moving average of $286.51. Rockwell Automation, Inc. has a 1 year low of $192.90 and a 1 year high of $331.40. The company has a market cap of $37.38 billion, a price-to-earnings ratio of 28.64, a price-to-earnings-growth ratio of 2.40 and a beta of 1.45.

Rockwell Automation (NYSE:ROK – Free Report) last issued its quarterly earnings results on Thursday, April 27th. The industrial products company reported $3.01 EPS for the quarter, topping the consensus estimate of $2.60 by $0.41. The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Rockwell Automation had a net margin of 15.82% and a return on equity of 42.15%. Rockwell Automation’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.66 earnings per share. As a group, equities analysts anticipate that Rockwell Automation, Inc. will post 11.98 earnings per share for the current year.

Rockwell Automation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 14th will be issued a dividend of $1.18 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $4.72 annualized dividend and a yield of 1.45%. Rockwell Automation’s payout ratio is presently 41.55%.

About Rockwell Automation

(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.