Stratos Wealth Partners LTD. Cuts Stake in Rockwell Automation, Inc. (NYSE:ROK)

Posted by Defense World Staff on Jul 17th, 2023

Stratos Wealth Partners LTD. lessened its stake in shares of Rockwell Automation, Inc. (NYSE:ROK – Free Report) by 2.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,864 shares of the industrial products company’s stock after selling 171 shares during the period. Stratos Wealth Partners LTD.’s holdings in Rockwell Automation were worth $1,721,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baystate Wealth Management LLC grew its stake in Rockwell Automation by 2.4% in the 1st quarter. Baystate Wealth Management LLC now owns 1,572 shares of the industrial products company’s stock valued at $462,000 after buying an additional 37 shares in the last quarter. ETF Managers Group LLC raised its stake in shares of Rockwell Automation by 1.5% during the 1st quarter. ETF Managers Group LLC now owns 2,602 shares of the industrial products company’s stock valued at $764,000 after purchasing an additional 38 shares during the period. Kentucky Retirement Systems lifted its holdings in Rockwell Automation by 0.4% during the 4th quarter. Kentucky Retirement Systems now owns 9,076 shares of the industrial products company’s stock worth $2,338,000 after purchasing an additional 40 shares in the last quarter. Accurate Wealth Management LLC lifted its holdings in Rockwell Automation by 4.2% during the 1st quarter. Accurate Wealth Management LLC now owns 1,007 shares of the industrial products company’s stock worth $277,000 after purchasing an additional 41 shares in the last quarter. Finally, Elmwood Wealth Management Inc. boosted its stake in Rockwell Automation by 0.9% in the 4th quarter. Elmwood Wealth Management Inc. now owns 5,556 shares of the industrial products company’s stock worth $1,431,000 after purchasing an additional 50 shares during the period. 79.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rockwell Automation

In other news, VP Isaac Woods sold 150 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $325.00, for a total transaction of $48,750.00. Following the transaction, the vice president now directly owns 940 shares of the company’s stock, valued at $305,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Blake D. Moret sold 4,855 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $315.00, for a total value of $1,529,325.00. Following the completion of the transaction, the chief executive officer now owns 64,425 shares of the company’s stock, valued at approximately $20,293,875. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Isaac Woods sold 150 shares of the company’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $325.00, for a total value of $48,750.00. Following the completion of the sale, the vice president now directly owns 940 shares in the company, valued at $305,500. The disclosure for this sale can be found here. Insiders sold 15,217 shares of company stock valued at $4,687,705 in the last 90 days. Insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

ROK has been the topic of several analyst reports. StockNews.com upgraded Rockwell Automation from a “hold” rating to a “buy” rating in a research report on Saturday. Mizuho raised their price target on shares of Rockwell Automation from $260.00 to $270.00 in a report on Friday, April 28th. Barclays boosted their price target on shares of Rockwell Automation from $262.00 to $300.00 in a research report on Monday, July 10th. Bank of America increased their price objective on Rockwell Automation from $335.00 to $375.00 in a research report on Friday. Finally, Wells Fargo & Company upped their target price on Rockwell Automation from $260.00 to $290.00 in a research note on Monday, July 10th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $290.00.

Rockwell Automation Stock Performance

Shares of ROK stock opened at $341.23 on Monday. The company has a market capitalization of $39.20 billion, a P/E ratio of 30.04, a PEG ratio of 2.51 and a beta of 1.45. Rockwell Automation, Inc. has a fifty-two week low of $200.98 and a fifty-two week high of $343.66. 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 stock has a 50 day moving average price of $303.23 and a two-hundred day moving average price of $289.43.

Rockwell Automation (NYSE:ROK – Get Free Report) last posted its quarterly earnings results on Thursday, April 27th. The industrial products company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.41. The company 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 firm’s revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.66 EPS. Analysts expect that Rockwell Automation, Inc. will post 11.98 earnings per share for the current year.

Rockwell Automation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 14th will be issued a dividend of $1.18 per share. The ex-dividend date is Friday, August 11th. This represents a $4.72 dividend on an annualized basis and a yield of 1.38%. Rockwell Automation’s dividend 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.