Hemenway Trust Co LLC Purchases 2,649 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Hemenway Trust Co LLC grew its stake in Rockwell Automation, Inc. (NYSE:ROK) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,876 shares of the industrial products company’s stock after purchasing an additional 2,649 shares during the quarter. Rockwell Automation makes up approximately 2.4% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 18th largest holding. Hemenway Trust Co LLC’s holdings in Rockwell Automation were worth $28,907,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp raised its position in shares of Rockwell Automation by 8.5% in the first quarter. Fifth Third Bancorp now owns 5,424 shares of the industrial products company’s stock valued at $1,401,000 after purchasing an additional 423 shares during the period. Teacher Retirement System of Texas raised its position in shares of Rockwell Automation by 39.1% in the fourth quarter. Teacher Retirement System of Texas now owns 1,063 shares of the industrial products company’s stock valued at $304,000 after purchasing an additional 299 shares during the period. Brighton Jones LLC bought a new position in shares of Rockwell Automation in the fourth quarter valued at about $281,000. Schroder Investment Management Group raised its position in shares of Rockwell Automation by 14.9% in the fourth quarter. Schroder Investment Management Group now owns 14,478 shares of the industrial products company’s stock valued at $4,135,000 after purchasing an additional 1,872 shares during the period. Finally, Banque Transatlantique SA bought a new position in shares of Rockwell Automation in the fourth quarter valued at about $8,289,000. 75.75% of the stock is owned by institutional investors.

Rockwell Automation Trading Down 1.3%

Shares of Rockwell Automation stock opened at $320.24 on Wednesday. The company has a market capitalization of $36.10 billion, a price-to-earnings ratio of 40.33, a PEG ratio of 3.76 and a beta of 1.38. The company has a quick ratio of 0.72, a current ratio of 1.05 and a debt-to-equity ratio of 0.71. Rockwell Automation, Inc. has a 12-month low of $215.00 and a 12-month high of $328.90. The firm’s 50-day moving average price is $283.16 and its two-hundred day moving average price is $280.15.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.36. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.50 earnings per share. On average, analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be issued a $1.31 dividend. The ex-dividend date is Monday, August 18th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.64%. Rockwell Automation’s dividend payout ratio (DPR) is currently 65.99%.

Insider Transactions at Rockwell Automation

In other news, SVP Matheus De A. G. Viera Bulho sold 250 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $326.33, for a total value of $81,582.50. Following the completion of the transaction, the senior vice president now owns 1,509 shares of the company’s stock, valued at approximately $492,431.97. This represents a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matthew W. Fordenwalt sold 289 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $326.33, for a total transaction of $94,309.37. Following the completion of the transaction, the senior vice president now directly owns 3,196 shares of the company’s stock, valued at $1,042,950.68. This trade represents a 8.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,681 shares of company stock valued at $2,382,987. 0.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ROK. Loop Capital increased their price objective on shares of Rockwell Automation from $280.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, May 15th. KeyCorp restated an “overweight” rating and issued a $360.00 price target (up from $345.00) on shares of Rockwell Automation in a research note on Friday, June 13th. Oppenheimer upped their price target on shares of Rockwell Automation from $258.00 to $304.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Citigroup upped their price target on shares of Rockwell Automation from $327.00 to $371.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Finally, TD Cowen upgraded shares of Rockwell Automation from a “sell” rating to a “hold” rating and set a $275.00 price target on the stock in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rockwell Automation has a consensus rating of “Moderate Buy” and a consensus price target of $317.79.

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.