Carret Asset Management LLC Sells 3,040 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Carret Asset Management LLC cut its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 49.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,150 shares of the industrial products company’s stock after selling 3,040 shares during the period. Carret Asset Management LLC’s holdings in Rockwell Automation were worth $918,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Axxcess Wealth Management LLC bought a new position in Rockwell Automation in the 3rd quarter valued at $734,000. Alps Advisors Inc. lifted its stake in shares of Rockwell Automation by 4.4% in the 3rd quarter. Alps Advisors Inc. now owns 1,148 shares of the industrial products company’s stock valued at $328,000 after purchasing an additional 48 shares during the period. Lido Advisors LLC lifted its stake in shares of Rockwell Automation by 4.0% in the 3rd quarter. Lido Advisors LLC now owns 1,057 shares of the industrial products company’s stock valued at $302,000 after purchasing an additional 41 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Rockwell Automation by 2.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,752,223 shares of the industrial products company’s stock valued at $786,778,000 after purchasing an additional 70,272 shares during the period. Finally, Seven Eight Capital LP acquired a new position in shares of Rockwell Automation in the 3rd quarter valued at $890,000. 75.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ROK has been the topic of a number of analyst reports. Barclays cut their price target on Rockwell Automation from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 4th. Berenberg Bank reaffirmed a “hold” rating and set a $290.00 price objective (down previously from $330.00) on shares of Rockwell Automation in a research note on Wednesday, March 6th. Mizuho dropped their price objective on Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $254.00 price objective on shares of Rockwell Automation in a research note on Thursday, March 21st. Finally, Loop Capital lowered their target price on Rockwell Automation from $300.00 to $290.00 and set a “hold” rating for the company in a report on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $305.08.

Insider Activity

In other news, SVP Tessa M. Myers sold 248 shares of Rockwell Automation stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $256.37, for a total value of $63,579.76. Following the completion of the sale, the senior vice president now directly owns 4,246 shares in the company, valued at $1,088,547.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Rockwell Automation news, SVP Tessa M. Myers sold 248 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 4,246 shares in the company, valued at $1,088,547.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Cyril Perducat sold 659 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were 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 $1,204,309.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,199 shares of company stock worth $572,750. Corporate insiders own 0.68% of the company’s stock.

Rockwell Automation Trading Up 0.5 %

Shares of ROK stock opened at $266.34 on Thursday. The firm has a 50 day moving average price of $265.87 and a two-hundred day moving average price of $280.95. The company has a quick ratio of 0.74, a current ratio of 1.11 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $30.36 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 4.38 and a beta of 1.37. Rockwell Automation, Inc. has a 12-month low of $249.00 and a 12-month high of $348.52.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.35. Rockwell Automation had a net margin of 13.19% and a return on equity of 34.83%. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the business posted $3.01 earnings per share. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, analysts predict that Rockwell Automation, Inc. will post 10.15 earnings per share for the current year.

Rockwell Automation Announces Dividend

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 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 1.88%. Rockwell Automation’s payout ratio is 48.88%.

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.