Parsons Capital Management Inc. RI Reduces Holdings in Rockwell Automation, Inc. (NYSE:ROK)

Parsons Capital Management Inc. RI lowered its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 4.7% during the fourth quarter, Holdings Channel reports. The firm owned 1,022 shares of the industrial products company’s stock after selling 50 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Rockwell Automation were worth $292,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Richardson Financial Services Inc. increased its position in Rockwell Automation by 100.0% during the third 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 acquired a new position in shares of Rockwell Automation in the 3rd quarter valued at $26,000. West Oak Capital LLC raised its position in Rockwell Automation by 455.6% in the 4th 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 last quarter. Darwin Wealth Management LLC acquired a new stake in Rockwell Automation during the 3rd quarter worth $34,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Rockwell Automation during the 2nd quarter worth $36,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Rockwell Automation Stock Performance

Shares of ROK stock opened at $282.27 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 1.08. The stock has a market cap of $31.90 billion, a PE ratio of 34.09, a P/E/G ratio of 3.11 and a beta of 1.36. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $307.71. The stock has a fifty day moving average price of $288.52 and a 200 day moving average price of $275.32.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.40 by $0.07. Rockwell Automation had a net margin of 11.53% and a return on equity of 30.42%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the previous year, the firm earned $3.64 EPS. The business’s revenue for the quarter was down 20.6% compared to the same quarter last year. Sell-side analysts forecast that Rockwell Automation, Inc. will post 9.32 earnings per share for the current fiscal year.

Rockwell Automation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.86%. This is a boost from Rockwell Automation’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, November 18th. Rockwell Automation’s dividend payout ratio (DPR) is 63.29%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ROK. Citigroup upped their target price on shares of Rockwell Automation from $313.00 to $345.00 and gave the company a “buy” rating in a report on Monday, December 9th. UBS Group started coverage on Rockwell Automation in a research report on Wednesday, November 13th. They set a “neutral” rating and a $313.00 price objective for the company. BNP Paribas began coverage on Rockwell Automation in a report on Wednesday, November 13th. They issued an “outperform” rating and a $345.00 target price on the stock. Mizuho increased their price target on Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Robert W. Baird boosted their price objective on shares of Rockwell Automation from $290.00 to $305.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $304.16.

Insider Buying and Selling

In related news, SVP Cyril Perducat sold 1,000 shares of Rockwell Automation stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the sale, the senior vice president now owns 3,630 shares in the company, valued at approximately $1,089,000. This trade represents a 21.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Blake D. Moret sold 26,700 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $298.63, for a total transaction of $7,973,421.00. Following the completion of the transaction, the chief executive officer now owns 78,115 shares in the company, valued at approximately $23,327,482.45. This trade represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,436 shares of company stock worth $10,832,549 in the last ninety days. Insiders own 0.68% of the company’s stock.

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.