Golden State Wealth Management LLC Increases Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Golden State Wealth Management LLC boosted its stake in Rockwell Automation, Inc. (NYSE:ROK) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,596 shares of the industrial products company’s stock after acquiring an additional 96 shares during the quarter. Golden State Wealth Management LLC’s holdings in Rockwell Automation were worth $671,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Fifth Third Bancorp increased its holdings in Rockwell Automation by 8.5% during the 1st quarter. Fifth Third Bancorp now owns 5,424 shares of the industrial products company’s stock worth $1,401,000 after purchasing an additional 423 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Rockwell Automation by 39.1% during the 4th quarter. Teacher Retirement System of Texas now owns 1,063 shares of the industrial products company’s stock valued at $304,000 after acquiring an additional 299 shares during the last quarter. Brighton Jones LLC acquired a new position in Rockwell Automation during the 4th quarter worth $281,000. Schroder Investment Management Group grew its holdings in Rockwell Automation by 14.9% during the 4th quarter. Schroder Investment Management Group now owns 14,478 shares of the industrial products company’s stock worth $4,135,000 after acquiring an additional 1,872 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new stake in shares of Rockwell Automation in the 4th quarter valued at about $8,289,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Christopher Nardecchia sold 551 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $326.31, for a total value of $179,796.81. Following the completion of the transaction, the senior vice president owned 12,711 shares of the company’s stock, valued at approximately $4,147,726.41. This trade represents a 4.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Matthew W. Fordenwalt sold 500 shares of the business’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $320.02, for a total transaction of $160,010.00. Following the sale, the senior vice president directly owned 2,709 shares in the company, valued at approximately $866,934.18. This trade represents a 15.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,388 shares of company stock valued at $2,307,487 over the last 90 days. 0.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ROK. Barclays upgraded Rockwell Automation from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $283.00 to $350.00 in a research note on Friday, May 30th. TD Cowen raised Rockwell Automation from a “sell” rating to a “hold” rating and set a $275.00 price target on the stock in a research report on Friday, May 9th. Loop Capital boosted their price objective on shares of Rockwell Automation from $280.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, May 15th. Bank of America increased their target price on Rockwell Automation from $330.00 to $360.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, KeyCorp restated an “overweight” rating and issued a $360.00 target price (up previously from $345.00) on shares of Rockwell Automation in a research report on Friday, June 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $324.37.

Rockwell Automation Price Performance

NYSE:ROK opened at $346.93 on Friday. The business’s 50-day moving average price is $308.03 and its 200 day moving average price is $283.36. The firm has a market cap of $39.11 billion, a P/E ratio of 43.69, a PEG ratio of 3.90 and a beta of 1.38. The company has a quick ratio of 0.72, a current ratio of 1.05 and a debt-to-equity ratio of 0.71. Rockwell Automation, Inc. has a 52-week low of $215.00 and a 52-week high of $348.43.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.36. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. Rockwell Automation had a return on equity of 30.16% and a net margin of 11.38%. The company’s revenue was down 5.9% compared to the same quarter last year. During the same period last year, the company posted $2.50 EPS. As a group, sell-side analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be paid a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation’s dividend payout ratio is presently 65.99%.

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.