OLD National Bancorp IN Sells 525 Shares of Rockwell Automation, Inc. (NYSE:ROK)

OLD National Bancorp IN lessened its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 23.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,672 shares of the industrial products company’s stock after selling 525 shares during the period. OLD National Bancorp IN’s holdings in Rockwell Automation were worth $519,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Robbins Farley boosted its holdings in shares of Rockwell Automation by 18.1% during the 4th quarter. Robbins Farley now owns 4,754 shares of the industrial products company’s stock valued at $1,476,000 after purchasing an additional 730 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Rockwell Automation by 9.8% in the 4th quarter. Lindbrook Capital LLC now owns 707 shares of the industrial products company’s stock valued at $220,000 after acquiring an additional 63 shares during the last quarter. abrdn plc lifted its holdings in shares of Rockwell Automation by 28.8% in the 4th quarter. abrdn plc now owns 101,777 shares of the industrial products company’s stock valued at $31,600,000 after acquiring an additional 22,757 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Rockwell Automation by 19.1% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 32,038 shares of the industrial products company’s stock valued at $9,947,000 after acquiring an additional 5,128 shares during the last quarter. Finally, Ninety One North America Inc. lifted its holdings in shares of Rockwell Automation by 50.4% in the 4th quarter. Ninety One North America Inc. now owns 22,391 shares of the industrial products company’s stock valued at $6,952,000 after acquiring an additional 7,499 shares during the last quarter. Institutional investors own 75.75% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on ROK shares. Citigroup decreased their price objective on shares of Rockwell Automation from $330.00 to $322.00 and set a “buy” rating for the company in a research note on Monday, April 8th. 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 note on Wednesday, March 6th. UBS Group raised shares of Rockwell Automation from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $305.00 to $360.00 in a research note on Wednesday, January 3rd. Oppenheimer decreased their price objective on shares of Rockwell Automation from $324.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, February 1st. Finally, Wells Fargo & Company decreased their price objective on shares of Rockwell Automation from $357.00 to $320.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $310.08.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, CEO Blake D. Moret acquired 3,500 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average cost of $283.64 per share, with a total value of $992,740.00. Following the completion of the acquisition, the chief executive officer now directly owns 77,215 shares in the company, valued at approximately $21,901,262.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Rockwell Automation news, VP Brian A. Shepherd sold 637 shares of the firm’s stock in a transaction that occurred 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 sale, 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 SEC, which is available through this hyperlink. Also, CEO Blake D. Moret bought 3,500 shares of the stock in a transaction on Monday, February 12th. The stock was purchased at an average price of $283.64 per share, with a total value of $992,740.00. Following the completion of the purchase, 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 have sold a total of 17,877 shares of company stock valued at $5,058,772 over the last ninety days. 0.68% of the stock is owned by company insiders.

Rockwell Automation Stock Performance

Shares of ROK stock opened at $275.56 on Thursday. The firm has a market cap of $31.58 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 2.79 and a beta of 1.43. The company’s 50 day moving average is $282.59 and its 200 day moving average is $283.89. 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.

Rockwell Automation (NYSE:ROK) last issued 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). The business had revenue of $2.05 billion for 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 in the previous year, the business earned $2.46 earnings per share. On average, sell-side analysts anticipate that Rockwell Automation, Inc. will post 11.98 EPS for the current fiscal year.

Rockwell Automation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 13th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.81%. The ex-dividend date is Friday, May 10th. Rockwell Automation’s payout ratio is 47.57%.

About Rockwell Automation

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.