Wahed Invest LLC Acquires 151 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Wahed Invest LLC raised its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 8.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,959 shares of the industrial products company’s stock after purchasing an additional 151 shares during the period. Wahed Invest LLC’s holdings in Rockwell Automation were worth $608,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ROK. Patrick M Sweeney & Associates Inc. bought a new stake in shares of Rockwell Automation during the 4th quarter valued at $380,000. Sequoia Financial Advisors LLC grew its stake in Rockwell Automation by 676.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 32,156 shares of the industrial products company’s stock worth $9,984,000 after buying an additional 28,016 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Rockwell Automation by 0.9% during the third quarter. Mercer Global Advisors Inc. ADV now owns 11,423 shares of the industrial products company’s stock worth $3,266,000 after buying an additional 97 shares in the last quarter. Carnegie Capital Asset Management LLC increased its holdings in Rockwell Automation by 5.0% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 85,551 shares of the industrial products company’s stock valued at $26,562,000 after buying an additional 4,093 shares during the period. Finally, Lincoln National Corp lifted its holdings in shares of Rockwell Automation by 76.5% during the 4th quarter. Lincoln National Corp now owns 3,111 shares of the industrial products company’s stock worth $966,000 after acquiring an additional 1,348 shares during the period. 75.75% of the stock is owned by institutional investors.

Insider Transactions at Rockwell Automation

In related news, SVP Cyril Perducat sold 659 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $260.11, for a total value of $171,412.49. Following the transaction, the senior vice president now owns 4,630 shares in the company, valued at $1,204,309.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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 directly owns 4,630 shares in the company, valued at approximately $1,204,309.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Tessa M. Myers sold 248 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $256.37, for a total transaction of $63,579.76. Following the transaction, the senior vice president now owns 4,246 shares in the company, valued at approximately $1,088,547.02. The disclosure for this sale can be found here. Insiders sold a total of 2,199 shares of company stock worth $572,750 over the last three months. 0.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ROK shares. Citigroup cut their target price on Rockwell Automation from $322.00 to $316.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Mizuho dropped their price objective on Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Berenberg Bank reiterated a “hold” rating and issued a $290.00 target price (down previously from $330.00) on shares of Rockwell Automation in a research report on Wednesday, March 6th. Robert W. Baird lowered their target price on Rockwell Automation from $310.00 to $304.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. Finally, Barclays reduced their price target on shares of Rockwell Automation from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 4th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $307.21.

Rockwell Automation Stock Up 1.6 %

Shares of NYSE:ROK opened at $258.51 on Tuesday. The business has a fifty day simple moving average of $269.27 and a 200 day simple moving average of $282.53. Rockwell Automation, Inc. has a 12-month low of $249.00 and a 12-month high of $348.52. The firm has a market cap of $29.47 billion, a P/E ratio of 25.27, a P/E/G ratio of 3.97 and a beta of 1.38. The company has a quick ratio of 0.74, a current ratio of 1.11 and a debt-to-equity ratio of 0.69.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.35. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.05 billion. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.01 earnings per share. Analysts predict that Rockwell Automation, Inc. will post 10.14 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Monday, August 12th. Rockwell Automation’s dividend payout ratio is currently 48.88%.

Rockwell Automation Company 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.