Independence Bank of Kentucky Acquires 40 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Independence Bank of Kentucky lifted its holdings in Rockwell Automation, Inc. (NYSE:ROKFree Report) by 20.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 240 shares of the industrial products company’s stock after purchasing an additional 40 shares during the period. Independence Bank of Kentucky’s holdings in Rockwell Automation were worth $75,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Drive Wealth Management LLC bought a new position in shares of Rockwell Automation in the 4th quarter worth approximately $217,000. Monte Financial Group LLC raised its stake in Rockwell Automation by 23.3% during the 4th quarter. Monte Financial Group LLC now owns 4,172 shares of the industrial products company’s stock worth $1,295,000 after acquiring an additional 789 shares during the period. Prio Wealth Limited Partnership bought a new stake in Rockwell Automation during the 4th quarter worth approximately $212,000. Tevis Investment Management bought a new stake in Rockwell Automation during the 4th quarter worth approximately $216,000. Finally, L. Roy Papp & Associates LLP raised its stake in Rockwell Automation by 11.6% during the 4th quarter. L. Roy Papp & Associates LLP now owns 15,772 shares of the industrial products company’s stock worth $4,897,000 after acquiring an additional 1,644 shares during the period. Institutional investors own 75.75% of the company’s stock.

Insiders Place Their Bets

In other Rockwell Automation news, VP Brian A. Shepherd sold 637 shares of Rockwell Automation 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 completion of the transaction, the vice president now directly owns 5,088 shares of the company’s stock, valued at $1,337,482.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Rockwell Automation news, VP Brian A. Shepherd sold 637 shares of Rockwell Automation 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 completion of the transaction, the vice president now directly owns 5,088 shares of the company’s stock, valued at $1,337,482.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert L. Buttermore sold 201 shares of Rockwell Automation stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $277.50, for a total transaction of $55,777.50. Following the transaction, the senior vice president now directly owns 2,311 shares of the company’s stock, valued at $641,302.50. The disclosure for this sale can be found here. Insiders sold 17,877 shares of company stock valued at $5,058,772 over the last three months. 0.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ROK shares. Barclays decreased their target price on shares of Rockwell Automation from $269.00 to $265.00 and set an “underweight” rating on the stock in a research note on Tuesday. Berenberg Bank restated a “hold” rating and set a $290.00 target price (down previously from $330.00) on shares of Rockwell Automation in a research note on Wednesday, March 6th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $254.00 price objective on shares of Rockwell Automation in a report on Thursday, March 21st. Oppenheimer cut their price objective on shares of Rockwell Automation from $324.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, February 1st. Finally, UBS Group raised shares of Rockwell Automation from a “neutral” rating to a “buy” rating and increased their price objective for the company from $305.00 to $360.00 in a report on Wednesday, January 3rd. Two 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $308.00.

Get Our Latest Report on ROK

Rockwell Automation Trading Down 0.1 %

ROK stock opened at $279.87 on Thursday. The firm has a fifty day moving average price of $283.10 and a 200 day moving average price of $284.49. 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 firm has a market cap of $32.07 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 2.64 and a beta of 1.43.

Rockwell Automation (NYSE:ROKGet Free Report) last posted its earnings results on Wednesday, January 31st. The industrial products company reported $2.04 earnings per share for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.58). The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Rockwell Automation had a net margin of 13.35% and a return on equity of 37.22%. During the same period last year, the business posted $2.46 earnings per share. Sell-side analysts anticipate that Rockwell Automation, Inc. will post 12.13 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Tuesday, February 20th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend was Friday, February 16th. Rockwell Automation’s payout ratio is 47.57%.

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.

Further Reading

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

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