Cabot Wealth Management Inc. Increases Position in Rockwell Automation, Inc. (NYSE:ROK)

Cabot Wealth Management Inc. boosted its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,480 shares of the industrial products company’s stock after acquiring an additional 649 shares during the period. Rockwell Automation accounts for approximately 1.6% of Cabot Wealth Management Inc.’s investment portfolio, making the stock its 22nd biggest position. Cabot Wealth Management Inc.’s holdings in Rockwell Automation were worth $12,526,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ROK. Bank of Jackson Hole Trust acquired a new position in Rockwell Automation in the 4th quarter valued at about $34,000. SBI Securities Co. Ltd. acquired a new position in Rockwell Automation in the 4th quarter valued at about $35,000. Parvin Asset Management LLC acquired a new position in Rockwell Automation in the 4th quarter valued at about $36,000. Flagship Wealth Advisors LLC acquired a new position in Rockwell Automation in the 4th quarter valued at about $38,000. Finally, Knuff & Co LLC boosted its holdings in Rockwell Automation by 41.0% in the 4th quarter. Knuff & Co LLC now owns 141 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 41 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Rockwell Automation

In other Rockwell Automation news, SVP Matheus De A. G. Viera Bulho sold 526 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $325.35, for a total value of $171,134.10. Following the sale, the senior vice president now directly owns 983 shares of the company’s stock, valued at approximately $319,819.05. This represents a 34.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Matthew W. Fordenwalt sold 223 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $313.97, for a total transaction of $70,015.31. Following the completion of the sale, the senior vice president now directly owns 3,209 shares in the company, valued at approximately $1,007,529.73. This represents a 6.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,681 shares of company stock valued at $2,382,987. Insiders own 0.68% of the company’s stock.

Rockwell Automation Price Performance

Shares of ROK opened at $320.97 on Friday. Rockwell Automation, Inc. has a fifty-two week low of $215.00 and a fifty-two week high of $328.90. The firm’s 50 day moving average price is $288.41 and its 200 day moving average price is $280.81. The company has a market cap of $36.18 billion, a P/E ratio of 40.42, a PEG ratio of 3.73 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 (NYSE:ROK) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.36. Rockwell Automation had a net margin of 11.38% and a return on equity of 30.16%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the firm earned $2.50 EPS. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, research analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be given a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Monday, August 18th. Rockwell Automation’s dividend payout ratio is presently 65.99%.

Analyst Ratings Changes

Several research firms have weighed in on ROK. Wells Fargo & Company boosted their target price on shares of Rockwell Automation from $265.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Barclays upgraded shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $283.00 to $350.00 in a report on Friday, May 30th. JPMorgan Chase & Co. boosted their target price on shares of Rockwell Automation from $271.00 to $299.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Citigroup boosted 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, Loop Capital boosted their price target on shares of Rockwell Automation from $280.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, May 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.