Amalgamated Bank Acquires 155 Shares of Rockwell Automation, Inc. $ROK

Amalgamated Bank increased its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 0.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,316 shares of the industrial products company’s stock after purchasing an additional 155 shares during the period. Amalgamated Bank’s holdings in Rockwell Automation were worth $7,413,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. boosted its holdings in Rockwell Automation by 720.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 399,309 shares of the industrial products company’s stock valued at $132,638,000 after acquiring an additional 350,662 shares during the period. Great Lakes Advisors LLC bought a new stake in Rockwell Automation during the first quarter valued at about $73,908,000. Nuveen LLC bought a new stake in Rockwell Automation during the first quarter valued at about $63,632,000. Raymond James Financial Inc. boosted its holdings in Rockwell Automation by 213.7% during the first quarter. Raymond James Financial Inc. now owns 357,080 shares of the industrial products company’s stock valued at $92,263,000 after acquiring an additional 243,249 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Rockwell Automation by 1,950.4% during the second quarter. Assenagon Asset Management S.A. now owns 202,788 shares of the industrial products company’s stock valued at $67,360,000 after acquiring an additional 192,898 shares during the period. 75.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of Rockwell Automation from $345.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Stephens reissued an “overweight” rating and issued a $375.00 price objective (up from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. Oppenheimer increased their price objective on Rockwell Automation from $363.00 to $365.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. KeyCorp increased their price objective on Rockwell Automation from $370.00 to $380.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Finally, CICC Research initiated coverage on shares of Rockwell Automation in a research report on Monday, July 7th. They set an “outperform” rating and a $381.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $347.94.

Insider Transactions at Rockwell Automation

In related news, VP Isaac Woods sold 365 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $348.44, for a total value of $127,180.60. Following the completion of the transaction, the vice president owned 1,691 shares of the company’s stock, valued at $589,212.04. This represents a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Blake D. Moret sold 24,400 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $350.13, for a total transaction of $8,543,172.00. Following the completion of the transaction, the chief executive officer directly owned 83,873 shares of the company’s stock, valued at $29,366,453.49. This trade represents a 22.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 30,375 shares of company stock valued at $10,661,109. Corporate insiders own 0.68% of the company’s stock.

Rockwell Automation Stock Up 0.9%

Shares of ROK opened at $368.89 on Friday. The company has a 50-day simple moving average of $348.01 and a 200-day simple moving average of $326.64. The firm has a market capitalization of $41.48 billion, a P/E ratio of 43.30, a P/E/G ratio of 3.30 and a beta of 1.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.06. Rockwell Automation, Inc. has a 52 week low of $215.00 and a 52 week high of $375.02.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.15. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the business earned $2.71 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 17th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.5%. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.31. The ex-dividend date of this dividend is Monday, November 17th. Rockwell Automation’s dividend payout ratio (DPR) is currently 61.50%.

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.