Bar Harbor Wealth Management Has $9.43 Million Stake in Rockwell Automation, Inc. (NYSE:ROK)

Bar Harbor Wealth Management lifted its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 2,229.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,008 shares of the industrial products company’s stock after buying an additional 31,591 shares during the quarter. Bar Harbor Wealth Management’s holdings in Rockwell Automation were worth $9,433,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Richardson Financial Services Inc. grew its position in shares of Rockwell Automation by 100.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock worth $26,000 after buying an additional 48 shares during the period. Ashton Thomas Securities LLC bought a new stake in Rockwell Automation in the third quarter valued at $26,000. West Oak Capital LLC raised its holdings in shares of Rockwell Automation by 455.6% during the fourth quarter. West Oak Capital LLC now owns 100 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 82 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Rockwell Automation during the 3rd quarter worth about $34,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Rockwell Automation in the 2nd quarter valued at about $36,000. Institutional investors own 75.75% of the company’s stock.

Insider Buying and Selling

In other news, VP Scott Genereux sold 278 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $302.04, for a total value of $83,967.12. Following the transaction, the vice president now owns 3,184 shares of the company’s stock, valued at approximately $961,695.36. This represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP John M. Miller sold 467 shares of Rockwell Automation stock in a transaction on Monday, November 18th. The shares were sold at an average price of $284.07, for a total value of $132,660.69. Following the sale, the vice president now directly owns 4,800 shares of the company’s stock, valued at $1,363,536. This represents a 8.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,541 shares of company stock valued at $10,586,674. Company insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Bank of America upped their price target on Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Jefferies Financial Group upgraded Rockwell Automation from a “hold” rating to a “buy” rating and raised their target price for the company from $290.00 to $350.00 in a report on Thursday, December 12th. Robert W. Baird upped their price target on Rockwell Automation from $290.00 to $305.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Morgan Stanley upped their target price on shares of Rockwell Automation from $320.00 to $335.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, UBS Group assumed coverage on shares of Rockwell Automation in a research report on Wednesday, November 13th. They set a “neutral” rating and a $313.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $300.89.

Rockwell Automation Stock Performance

Rockwell Automation stock traded up $2.32 during mid-day trading on Monday, reaching $275.72. The company’s stock had a trading volume of 473,280 shares, compared to its average volume of 567,750. The company has a market capitalization of $31.17 billion, a P/E ratio of 33.30, a PEG ratio of 3.12 and a beta of 1.36. The firm’s fifty day moving average price is $287.49 and its two-hundred day moving average price is $273.97. Rockwell Automation, Inc. has a 12-month low of $242.81 and a 12-month high of $307.71. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the firm posted $3.64 EPS. The firm’s quarterly revenue was down 20.6% on a year-over-year basis. Sell-side analysts predict that Rockwell Automation, Inc. will post 9.37 EPS for the current fiscal year.

Rockwell Automation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a dividend of $1.31 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.24 annualized dividend and a yield of 1.90%. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s payout ratio is currently 63.29%.

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.