Confluence Investment Management LLC purchased a new position in shares of Rockwell Automation (NYSE:ROK) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 112,109 shares of the industrial products company’s stock, valued at approximately $16,918,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. grew its stake in shares of Rockwell Automation by 67.6% in the first quarter. Meeder Asset Management Inc. now owns 176 shares of the industrial products company’s stock valued at $27,000 after buying an additional 71 shares in the last quarter. OmniStar Financial Group Inc. bought a new position in shares of Rockwell Automation in the first quarter valued at $29,000. Citizens Financial Group Inc RI grew its stake in shares of Rockwell Automation by 68.4% in the first quarter. Citizens Financial Group Inc RI now owns 192 shares of the industrial products company’s stock valued at $29,000 after buying an additional 78 shares in the last quarter. Asset Dedication LLC grew its stake in shares of Rockwell Automation by 117.4% in the first quarter. Asset Dedication LLC now owns 200 shares of the industrial products company’s stock valued at $30,000 after buying an additional 108 shares in the last quarter. Finally, CVA Family Office LLC bought a new position in shares of Rockwell Automation in the first quarter valued at $30,000. 77.35% of the stock is owned by institutional investors.

In related news, CFO Patrick P. Goris sold 3,300 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $220.00, for a total value of $726,000.00. Following the transaction, the chief financial officer now owns 13,043 shares in the company, valued at $2,869,460. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Phillip Holloman sold 1,582 shares of Rockwell Automation stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $194.34, for a total value of $307,445.88. The disclosure for this sale can be found here. Insiders sold 25,036 shares of company stock worth $5,292,882 in the last 90 days. 0.77% of the stock is owned by company insiders.

Shares of ROK traded down $3.15 during midday trading on Friday, reaching $205.05. 5,324 shares of the stock were exchanged, compared to its average volume of 1,040,022. Rockwell Automation has a twelve month low of $115.38 and a twelve month high of $230.71. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 2.37. The company has a market cap of $24.02 billion, a P/E ratio of 34.23, a PEG ratio of 5.26 and a beta of 1.49. The stock’s 50 day simple moving average is $207.66 and its 200 day simple moving average is $190.88.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.61. Rockwell Automation had a return on equity of 118.85% and a net margin of 10.54%. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the business earned $2.04 earnings per share. Rockwell Automation’s revenue was up 1.5% on a year-over-year basis. As a group, analysts predict that Rockwell Automation will post 7.18 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, August 14th. Rockwell Automation’s payout ratio is currently 47.06%.

Several research firms recently weighed in on ROK. Rosenblatt Securities cut shares of Rockwell Automation from a “neutral” rating to a “sell” rating and raised their target price for the company from $155.00 to $173.00 in a research note on Wednesday, April 29th. UBS Group raised their price target on Rockwell Automation from $161.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Credit Suisse Group raised their price target on Rockwell Automation from $163.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Deutsche Bank raised their price target on Rockwell Automation from $165.00 to $212.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Finally, Oppenheimer raised their price target on Rockwell Automation from $182.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. Rockwell Automation currently has a consensus rating of “Hold” and an average price target of $190.53.

About Rockwell Automation

Rockwell Automation, Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.

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Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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