Raymond James Financial Services Advisors Inc. Has $12.21 Million Stock Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Raymond James Financial Services Advisors Inc. raised its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 6.8% in the 1st quarter, Holdings Channel reports. The firm owned 41,909 shares of the industrial products company’s stock after purchasing an additional 2,672 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Rockwell Automation were worth $12,209,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ROK. Bruce G. Allen Investments LLC bought a new position in Rockwell Automation during the fourth quarter worth $27,000. OFI Invest Asset Management bought a new stake in Rockwell Automation in the 3rd quarter valued at about $26,000. Provence Wealth Management Group bought a new stake in shares of Rockwell Automation during the third quarter worth about $27,000. Riverview Trust Co bought a new stake in shares of Rockwell Automation in the 1st quarter worth $28,000. Finally, BluePath Capital Management LLC purchased a new position in Rockwell Automation in the third quarter worth $29,000. 75.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ROK has been the topic of a number of research reports. Wells Fargo & Company lowered their price target on shares of Rockwell Automation from $357.00 to $320.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Barclays dropped their price objective on Rockwell Automation from $269.00 to $265.00 and set an “underweight” rating on the stock in a report on Tuesday, April 2nd. JPMorgan Chase & Co. restated an “underweight” rating and issued a $254.00 price objective on shares of Rockwell Automation in a research report on Thursday, March 21st. Berenberg Bank restated a “hold” rating and set a $290.00 price target (down from $330.00) on shares of Rockwell Automation in a research report on Wednesday, March 6th. Finally, Oppenheimer lowered their price objective on Rockwell Automation from $324.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $310.08.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, CEO Blake D. Moret purchased 3,500 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was purchased at an average price of $283.64 per share, for a total transaction of $992,740.00. Following the completion of the purchase, the chief executive officer now directly owns 77,215 shares of the company’s stock, valued at $21,901,262.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Isaac Woods sold 150 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $287.59, for a total transaction of $43,138.50. Following the completion of the sale, the vice president now owns 1,199 shares of the company’s stock, valued at approximately $344,820.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Blake D. Moret acquired 3,500 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was bought at an average cost of $283.64 per share, for a total transaction of $992,740.00. Following the purchase, the chief executive officer now directly owns 77,215 shares of the company’s stock, valued at $21,901,262.60. The disclosure for this purchase can be found here. Insiders sold 17,240 shares of company stock valued at $4,891,324 over the last 90 days. Corporate insiders own 0.68% of the company’s stock.

Rockwell Automation Trading Up 1.5 %

Rockwell Automation stock traded up $4.01 during mid-day trading on Friday, reaching $274.05. 996,030 shares of the company traded hands, compared to its average volume of 859,440. The firm’s 50 day moving average price is $282.09 and its 200 day moving average price is $283.03. Rockwell Automation, Inc. has a 52-week low of $252.11 and a 52-week high of $348.52. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.25 and a quick ratio of 0.80. The firm has a market capitalization of $31.40 billion, a price-to-earnings ratio of 26.08, a P/E/G ratio of 2.72 and a beta of 1.43.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.62 by ($0.58). The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Rockwell Automation had a return on equity of 37.22% and a net margin of 13.35%. During the same period in the previous year, the company earned $2.46 earnings per share. On average, analysts anticipate that Rockwell Automation, Inc. will post 11.98 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 13th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Friday, May 10th. Rockwell Automation’s dividend payout ratio is presently 47.57%.

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.