First Hawaiian Bank Acquires 391 Shares of Rockwell Automation, Inc. (NYSE:ROK)

First Hawaiian Bank lifted its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 15.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,983 shares of the industrial products company’s stock after purchasing an additional 391 shares during the quarter. First Hawaiian Bank’s holdings in Rockwell Automation were worth $869,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ROK. QRG Capital Management Inc. bought a new position in shares of Rockwell Automation during the third quarter worth approximately $822,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Rockwell Automation during the 3rd quarter worth approximately $905,000. Envestnet Asset Management Inc. boosted its position in shares of Rockwell Automation by 46.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 55,767 shares of the industrial products company’s stock worth $15,942,000 after acquiring an additional 17,747 shares in the last quarter. CI Investments Inc. boosted its position in shares of Rockwell Automation by 3.0% during the 3rd quarter. CI Investments Inc. now owns 1,622 shares of the industrial products company’s stock worth $464,000 after acquiring an additional 47 shares in the last quarter. Finally, Rathbones Group PLC acquired a new stake in shares of Rockwell Automation during the 3rd quarter worth approximately $254,000. 75.75% of the stock is owned by institutional investors.

Insider Transactions at Rockwell Automation

In other news, VP John M. Miller sold 467 shares of Rockwell Automation stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $273.27, for a total transaction of $127,617.09. Following the transaction, the vice president now owns 4,800 shares in the company, valued at $1,311,696. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP John M. Miller sold 467 shares of Rockwell Automation stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $273.27, for a total transaction of $127,617.09. Following the completion of the transaction, the vice president now owns 4,800 shares of the company’s stock, valued at $1,311,696. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Tessa M. Myers sold 528 shares of Rockwell Automation stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total transaction of $133,995.84. Following the transaction, the senior vice president now directly owns 3,718 shares of the company’s stock, valued at approximately $943,554.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,199 shares of company stock worth $572,750. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on ROK shares. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $254.00 price target on shares of Rockwell Automation in a research report on Thursday, March 21st. 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 report on Tuesday, June 4th. Wells Fargo & Company reduced their price target on shares of Rockwell Automation from $320.00 to $312.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Berenberg Bank reiterated a “hold” rating and set a $290.00 price target (down previously from $330.00) on shares of Rockwell Automation in a research report on Wednesday, March 6th. Finally, Citigroup reduced their price target on shares of Rockwell Automation from $322.00 to $316.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $307.21.

Rockwell Automation Price Performance

Shares of NYSE:ROK opened at $260.53 on Friday. The firm has a market cap of $29.70 billion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 4.07 and a beta of 1.37. The firm’s fifty day moving average is $267.74 and its 200-day moving average is $282.08. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.11. Rockwell Automation, Inc. has a 52 week low of $249.00 and a 52 week high of $348.52.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results 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 net margin of 13.19% and a return on equity of 34.83%. Rockwell Automation’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.01 earnings per share. Sell-side analysts predict that Rockwell Automation, Inc. will post 10.14 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be issued a dividend of $1.25 per share. The ex-dividend date is Monday, August 12th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.92%. Rockwell Automation’s dividend payout ratio (DPR) is presently 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.