Allspring Global Investments Holdings LLC Has $1.82 Million Stock Position in Rockwell Automation, Inc. (NYSE:ROK)

Allspring Global Investments Holdings LLC lowered its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 67.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,229 shares of the industrial products company’s stock after selling 12,870 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Rockwell Automation were worth $1,815,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Claro Advisors LLC increased its position in shares of Rockwell Automation by 4.6% during the 1st quarter. Claro Advisors LLC now owns 4,058 shares of the industrial products company’s stock worth $1,182,000 after purchasing an additional 179 shares in the last quarter. Diversified Trust Co increased its position in shares of Rockwell Automation by 61.3% during the 1st quarter. Diversified Trust Co now owns 9,761 shares of the industrial products company’s stock worth $2,844,000 after purchasing an additional 3,708 shares in the last quarter. Aviance Capital Partners LLC increased its position in shares of Rockwell Automation by 285.9% during the 1st quarter. Aviance Capital Partners LLC now owns 5,395 shares of the industrial products company’s stock worth $1,572,000 after purchasing an additional 3,997 shares in the last quarter. Roberts Wealth Advisors LLC acquired a new stake in shares of Rockwell Automation during the 1st quarter worth about $1,687,000. Finally, Cornerstone Wealth Group LLC increased its position in Rockwell Automation by 9.2% in the 1st quarter. Cornerstone Wealth Group LLC now owns 735 shares of the industrial products company’s stock valued at $214,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Loop Capital lowered their price objective on shares of Rockwell Automation from $300.00 to $290.00 and set a “hold” rating for the company in a research report on Tuesday, May 14th. Mizuho lowered their price target on shares of Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $254.00 price objective on shares of Rockwell Automation in a research note on Thursday, March 21st. Barclays reduced their price objective 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. Finally, Berenberg Bank reaffirmed a “hold” rating and issued a $290.00 price target (down previously from $330.00) on shares of Rockwell Automation in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $305.08.

Rockwell Automation Trading Down 0.2 %

Shares of Rockwell Automation stock opened at $264.90 on Wednesday. The firm has a 50-day moving average of $266.10 and a 200-day moving average of $281.23. The stock has a market cap of $30.20 billion, a PE ratio of 25.89, a PEG ratio of 4.55 and a beta of 1.37. Rockwell Automation, Inc. has a 52-week low of $249.00 and a 52-week high of $348.52. 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 (NYSE:ROK) last announced its earnings results on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.35. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Rockwell Automation had a net margin of 13.19% and a return on equity of 34.83%. Rockwell Automation’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.01 earnings per share. As a group, sell-side analysts forecast that Rockwell Automation, Inc. will post 10.15 EPS for the current year.

Rockwell Automation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be given a $1.25 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.89%. Rockwell Automation’s payout ratio is presently 48.88%.

Insider Activity

In other news, VP John M. Miller sold 467 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $273.27, for a total value of $127,617.09. Following the completion of the sale, the vice president now owns 4,800 shares of the company’s stock, valued at $1,311,696. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Tessa M. Myers sold 248 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $256.37, for a total transaction of $63,579.76. Following the completion of the sale, the senior vice president now owns 4,246 shares of the company’s stock, valued at $1,088,547.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John M. Miller sold 467 shares of the stock in a transaction dated Thursday, May 16th. The stock was 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 directly owns 4,800 shares of the company’s stock, valued at approximately $1,311,696. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,199 shares of company stock valued at $572,750. 0.68% of the stock is owned by company 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.