SVB Wealth LLC Sells 8,074 Shares of Rockwell Automation, Inc. (NYSE:ROK)

SVB Wealth LLC decreased its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 25.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,626 shares of the industrial products company’s stock after selling 8,074 shares during the quarter. SVB Wealth LLC’s holdings in Rockwell Automation were worth $7,335,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ROK. OFI Invest Asset Management bought a new position in shares of Rockwell Automation during the third quarter worth $26,000. Provence Wealth Management Group bought a new position in shares of Rockwell Automation during the third quarter worth $27,000. Bruce G. Allen Investments LLC bought a new position in shares of Rockwell Automation during the fourth quarter worth $27,000. BluePath Capital Management LLC bought a new position in shares of Rockwell Automation during the third quarter worth $29,000. Finally, Neo Ivy Capital Management bought a new position in shares of Rockwell Automation during the second quarter worth $29,000. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Performance

ROK stock opened at $281.42 on Wednesday. Rockwell Automation, Inc. has a twelve month low of $252.11 and a twelve month high of $348.52. The firm has a market cap of $32.25 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 2.87 and a beta of 1.43. The business’s fifty day simple moving average is $283.05 and its two-hundred day simple moving average is $284.38. 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 (NYSE:ROK) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.58). The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.08 billion. Rockwell Automation had a return on equity of 37.22% and a net margin of 13.35%. During the same quarter in the prior year, the company earned $2.46 earnings per share. Analysts predict that Rockwell Automation, Inc. will post 12.03 earnings per share 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 paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $5.00 dividend on an annualized basis and a yield of 1.78%. Rockwell Automation’s dividend payout ratio is currently 47.57%.

Insider Activity

In other news, VP Brian A. Shepherd sold 637 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 5,088 shares in the company, valued at $1,337,482.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Rockwell Automation news, VP Scott Genereux sold 500 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $280.52, for a total value of $140,260.00. Following the completion of the transaction, the vice president now owns 4,383 shares of the company’s stock, valued at $1,229,519.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Brian A. Shepherd sold 637 shares of the firm’s 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 completion of the transaction, the vice president now directly 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. Over the last ninety days, insiders have sold 17,877 shares of company stock worth $5,058,772. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

ROK has been the subject of a number of research reports. JPMorgan Chase & Co. restated an “underweight” rating and set a $254.00 target price on shares of Rockwell Automation in a research report on Thursday, March 21st. Berenberg Bank reiterated a “hold” rating and set a $290.00 price objective (down previously from $330.00) on shares of Rockwell Automation in a research report on Wednesday, March 6th. Citigroup lowered 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 report on Monday, April 8th. Wells Fargo & Company lowered 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 report on Thursday, February 1st. Finally, Mizuho lowered their price objective on shares of Rockwell Automation from $300.00 to $265.00 and set a “neutral” rating for the company in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Rockwell Automation currently has an average rating of “Hold” and an average 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.