New York State Common Retirement Fund Decreases Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

New York State Common Retirement Fund lowered its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,926 shares of the industrial products company’s stock after selling 10,267 shares during the period. New York State Common Retirement Fund owned about 0.08% of Rockwell Automation worth $29,162,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ROK. OFI Invest Asset Management purchased a new stake in Rockwell Automation during the third quarter worth about $26,000. Provence Wealth Management Group purchased a new stake in Rockwell Automation during the third quarter worth about $27,000. Bruce G. Allen Investments LLC purchased a new stake in Rockwell Automation during the fourth quarter worth about $27,000. BluePath Capital Management LLC purchased a new stake in shares of Rockwell Automation in the third quarter valued at about $29,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Rockwell Automation in the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Insider Activity

In other news, VP Brian A. Shepherd sold 637 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $262.87, for a total value of $167,448.19. Following the completion of the transaction, the vice president now directly owns 5,088 shares in the company, valued at $1,337,482.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Rockwell Automation news, VP Brian A. Shepherd sold 637 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $262.87, for a total transaction of $167,448.19. Following the transaction, the vice president now directly owns 5,088 shares in the company, valued at approximately $1,337,482.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Isaac Woods sold 150 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $287.59, for a total transaction of $43,138.50. Following the transaction, the vice president now owns 1,199 shares in the company, valued at $344,820.41. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,877 shares of company stock worth $5,058,772. 0.68% of the stock is currently owned by company insiders.

Rockwell Automation Price Performance

ROK opened at $276.93 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 0.76. Rockwell Automation, Inc. has a 52-week low of $252.11 and a 52-week high of $348.52. The company has a 50 day moving average of $282.50 and a two-hundred day moving average of $283.84. The company has a market cap of $31.73 billion, a P/E ratio of 26.35, a P/E/G ratio of 2.78 and a beta of 1.43.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by ($0.58). Rockwell Automation had a return on equity of 37.22% and a net margin of 13.35%. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. On average, analysts expect that Rockwell Automation, Inc. will post 11.98 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 13th will be paid a $1.25 dividend. The ex-dividend date is Friday, May 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.81%. Rockwell Automation’s dividend payout ratio (DPR) is presently 47.57%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Citigroup reduced their price target on shares of Rockwell Automation from $330.00 to $322.00 and set a “buy” rating on the stock in a report on Monday, April 8th. UBS Group raised shares of Rockwell Automation from a “neutral” rating to a “buy” rating and upped their price target for the company from $305.00 to $360.00 in a report on Wednesday, January 3rd. Mizuho cut their price objective on shares of Rockwell Automation from $300.00 to $265.00 and set a “neutral” rating for the company in a research report on Thursday, February 1st. Berenberg Bank reissued a “hold” rating and issued a $290.00 price objective (down previously from $330.00) on shares of Rockwell Automation in a research report on Wednesday, March 6th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $254.00 price objective on shares of Rockwell Automation in a research report on Thursday, March 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $310.08.

Rockwell Automation Company Profile

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.