Axxcess Wealth Management LLC Boosts Stake in Rockwell Automation, Inc. (NYSE:ROK)

Axxcess Wealth Management LLC grew its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 81.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,663 shares of the industrial products company’s stock after purchasing an additional 2,097 shares during the period. Axxcess Wealth Management LLC’s holdings in Rockwell Automation were worth $1,448,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in Rockwell Automation during the third quarter worth about $26,000. Provence Wealth Management Group bought a new stake in Rockwell Automation during the third quarter worth about $27,000. Bruce G. Allen Investments LLC bought a new stake in Rockwell Automation during the fourth quarter worth about $27,000. BluePath Capital Management LLC bought a new stake in Rockwell Automation during the third quarter worth about $29,000. Finally, Fortitude Family Office LLC bought a new stake in Rockwell Automation during the fourth quarter worth about $46,000. Institutional investors own 75.75% of the company’s stock.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, CFO Nicholas C. Gangestad sold 1,989 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $288.17, for a total transaction of $573,170.13. Following the completion of the sale, the chief financial officer now directly owns 12,217 shares in the company, valued at approximately $3,520,572.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Nicholas C. Gangestad sold 1,989 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.17, for a total transaction of $573,170.13. Following the sale, the chief financial officer now owns 12,217 shares in the company, valued at $3,520,572.89. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Blake D. Moret purchased 3,500 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were purchased at an average price of $283.64 per share, for a total transaction of $992,740.00. Following the acquisition, the chief executive officer now owns 77,215 shares of the company’s stock, valued at $21,901,262.60. The disclosure for this purchase can be found here. Insiders sold a total of 17,240 shares of company stock valued at $4,891,324 in the last quarter. 0.68% of the stock is owned by insiders.

Rockwell Automation Stock Up 1.5 %

ROK stock opened at $274.05 on Monday. Rockwell Automation, Inc. has a fifty-two week low of $252.11 and a fifty-two week high of $348.52. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.25. The company has a market capitalization of $31.40 billion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 2.77 and a beta of 1.43. The business’s 50 day moving average price is $282.09 and its two-hundred day moving average price is $283.03.

Rockwell Automation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 13th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, May 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.82%. Rockwell Automation’s payout ratio is presently 47.57%.

Analysts Set New Price Targets

ROK has been the subject of a number of recent research reports. Mizuho lowered their target price on Rockwell Automation from $300.00 to $265.00 and set a “neutral” rating for the company in a research note on Thursday, February 1st. Citigroup lowered their price target on Rockwell Automation from $330.00 to $322.00 and set a “buy” rating for the company in a research report on Monday, April 8th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $254.00 price target on shares of Rockwell Automation in a research report on Thursday, March 21st. Berenberg Bank reaffirmed a “hold” rating and set a $290.00 price target (down previously from $330.00) on shares of Rockwell Automation in a research report on Wednesday, March 6th. Finally, Barclays lowered their price target on Rockwell Automation from $269.00 to $265.00 and set an “underweight” rating for the company in a research report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $310.08.

Rockwell Automation 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.