Parallel Advisors LLC Increases Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Parallel Advisors LLC boosted its stake in Rockwell Automation, Inc. (NYSE:ROK) by 7.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,470 shares of the industrial products company’s stock after acquiring an additional 101 shares during the quarter. Parallel Advisors LLC’s holdings in Rockwell Automation were worth $420,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in shares of Rockwell Automation during the third quarter worth about $537,000. Prospera Financial Services Inc increased its stake in Rockwell Automation by 0.9% during the 3rd quarter. Prospera Financial Services Inc now owns 4,033 shares of the industrial products company’s stock worth $1,083,000 after buying an additional 37 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Rockwell Automation during the third quarter valued at approximately $137,000. Darwin Wealth Management LLC purchased a new position in shares of Rockwell Automation in the third quarter valued at approximately $34,000. Finally, Moran Wealth Management LLC boosted its stake in shares of Rockwell Automation by 2.1% in the third quarter. Moran Wealth Management LLC now owns 2,342 shares of the industrial products company’s stock worth $629,000 after acquiring an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ROK. Jefferies Financial Group upgraded Rockwell Automation from a “hold” rating to a “buy” rating and raised their price objective for the company from $290.00 to $350.00 in a report on Thursday, December 12th. Robert W. Baird raised their price target on shares of Rockwell Automation from $305.00 to $315.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Stephens raised shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $275.00 to $350.00 in a research note on Thursday, January 16th. HSBC raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 target price on the stock in a research note on Wednesday, December 11th. Finally, KeyCorp upgraded Rockwell Automation from a “sector weight” rating to an “overweight” rating and set a $345.00 price target for the company in a research report on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $307.68.

Insider Transactions at Rockwell Automation

In related news, VP Isaac Woods sold 895 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $274.72, for a total transaction of $245,874.40. Following the sale, the vice president now directly owns 1,198 shares in the company, valued at approximately $329,114.56. This represents a 42.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tessa M. Myers sold 1,231 shares of Rockwell Automation stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $285.43, for a total transaction of $351,364.33. Following the completion of the transaction, the senior vice president now owns 3,650 shares of the company’s stock, valued at $1,041,819.50. This represents a 25.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,352 shares of company stock valued at $1,246,298. 0.68% of the stock is currently owned by company insiders.

Rockwell Automation Price Performance

ROK stock opened at $258.67 on Friday. The business’s fifty day moving average price is $280.13 and its 200 day moving average price is $278.32. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $308.70. The company has a market capitalization of $29.25 billion, a PE ratio of 32.21, a P/E/G ratio of 3.53 and a beta of 1.39. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.22. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.17%. On average, sell-side analysts anticipate that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were paid a $1.31 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $5.24 annualized dividend and a dividend yield of 2.03%. Rockwell Automation’s dividend payout ratio (DPR) is 65.26%.

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.