Desjardins Global Asset Management Inc. Sells 913 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Desjardins Global Asset Management Inc. reduced its position in Rockwell Automation, Inc. (NYSE:ROK) by 37.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,556 shares of the industrial products company’s stock after selling 913 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Rockwell Automation were worth $483,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Imprint Wealth LLC raised its position in Rockwell Automation by 32,845.0% during the second quarter. Imprint Wealth LLC now owns 1,254,546 shares of the industrial products company’s stock valued at $125,455,000 after purchasing an additional 1,250,738 shares during the period. Moneta Group Investment Advisors LLC raised its position in Rockwell Automation by 87,404.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,236,433 shares of the industrial products company’s stock valued at $318,468,000 after purchasing an additional 1,235,020 shares during the period. Norges Bank purchased a new stake in Rockwell Automation during the fourth quarter valued at approximately $215,125,000. Morgan Stanley raised its position in Rockwell Automation by 20.0% during the fourth quarter. Morgan Stanley now owns 2,741,019 shares of the industrial products company’s stock valued at $706,004,000 after purchasing an additional 457,383 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Rockwell Automation by 13.8% during the first quarter. JPMorgan Chase & Co. now owns 2,638,992 shares of the industrial products company’s stock valued at $774,411,000 after purchasing an additional 320,524 shares during the period. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ROK. Citigroup decreased their price objective on Rockwell Automation from $330.00 to $322.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Mizuho cut their target price on Rockwell Automation from $300.00 to $265.00 and set a “neutral” rating on the stock in a research note on Thursday, February 1st. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $254.00 target price on shares of Rockwell Automation in a research note on Thursday, March 21st. Berenberg Bank reaffirmed 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. Finally, Wells Fargo & Company cut their target price on Rockwell Automation from $357.00 to $320.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $310.08.

Rockwell Automation Stock Down 1.0 %

Shares of NYSE:ROK opened at $278.65 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 0.76. The stock has a market cap of $31.93 billion, a P/E ratio of 26.51, a price-to-earnings-growth ratio of 2.83 and a beta of 1.43. The business’s 50 day moving average is $283.24 and its 200 day moving average is $284.34. Rockwell Automation, Inc. has a 52-week low of $252.11 and a 52-week high of $348.52.

Rockwell Automation (NYSE:ROK) last announced its earnings results 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 company had revenue of $2.05 billion for the quarter, compared to the consensus estimate 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 EPS. Sell-side analysts predict that Rockwell Automation, Inc. will post 12.03 EPS for the current year.

Rockwell Automation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 13th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $5.00 annualized dividend and a yield of 1.79%. Rockwell Automation’s dividend payout ratio (DPR) is presently 47.57%.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, VP Brian A. Shepherd sold 637 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $262.87, for a total transaction of $167,448.19. Following the sale, the vice president now owns 5,088 shares of the company’s stock, valued at approximately $1,337,482.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Rockwell Automation news, CEO Blake D. Moret acquired 3,500 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was 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 in the company, valued at approximately $21,901,262.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $167,448.19. Following the sale, the vice president now owns 5,088 shares of the company’s stock, valued at approximately $1,337,482.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,877 shares of company stock valued at $5,058,772. 0.68% of the stock is currently owned by corporate insiders.

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.