SVB Wealth LLC Sells 2,561 Shares of Rockwell Automation, Inc. (NYSE:ROK)

SVB Wealth LLC cut its stake in Rockwell Automation, Inc. (NYSE:ROK) by 10.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,065 shares of the industrial products company’s stock after selling 2,561 shares during the quarter. SVB Wealth LLC’s holdings in Rockwell Automation were worth $6,137,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ROK. Riverview Trust Co bought a new stake in shares of Rockwell Automation during the first quarter worth $28,000. Bfsg LLC bought a new stake in shares of Rockwell Automation during the first quarter worth $29,000. ESL Trust Services LLC bought a new stake in shares of Rockwell Automation during the first quarter worth $29,000. Security National Bank bought a new stake in shares of Rockwell Automation during the fourth quarter worth $40,000. Finally, Cooksen Wealth LLC bought a new stake in shares of Rockwell Automation during the fourth quarter worth $40,000. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Stock Down 1.7 %

ROK stock traded down $4.83 during mid-day trading on Monday, reaching $272.21. The company had a trading volume of 570,437 shares, compared to its average volume of 974,010. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.11. The company has a market capitalization of $31.03 billion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 4.93 and a beta of 1.37. The firm has a fifty day simple moving average of $265.75 and a 200 day simple moving average of $276.65. Rockwell Automation, Inc. has a fifty-two week low of $249.00 and a fifty-two week high of $339.65.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.35. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the business earned $3.01 earnings per share. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. Analysts forecast that Rockwell Automation, Inc. will post 10.07 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 12th will be paid a dividend of $1.25 per share. The ex-dividend date is Monday, August 12th. This represents a $5.00 annualized dividend and a yield of 1.84%. Rockwell Automation’s dividend payout ratio is presently 48.88%.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Cyril Perducat sold 659 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $260.11, for a total transaction of $171,412.49. Following the completion of the sale, the senior vice president now directly owns 4,630 shares in the company, valued at $1,204,309.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Rockwell Automation news, SVP Cyril Perducat sold 659 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $260.11, for a total transaction of $171,412.49. Following the transaction, the senior vice president now owns 4,630 shares of the company’s stock, valued at approximately $1,204,309.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Tessa M. Myers sold 528 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total value of $133,995.84. Following the transaction, the senior vice president now directly owns 3,718 shares in the company, valued at approximately $943,554.04. The disclosure for this sale can be found here. Insiders sold 2,199 shares of company stock worth $572,750 over the last three months. 0.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays decreased their target price on Rockwell Automation from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Citigroup cut their price target on Rockwell Automation from $322.00 to $316.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Redburn Atlantic assumed coverage on Rockwell Automation in a research note on Monday, July 8th. They set a “neutral” rating and a $256.00 price target on the stock. Robert W. Baird cut their price target on Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Finally, Loop Capital cut their price target on Rockwell Automation from $300.00 to $290.00 and set a “hold” rating on the stock in a research note on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $300.71.

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.