Parallel Advisors LLC Grows Stake in Rockwell Automation, Inc. (NYSE:ROK)

Parallel Advisors LLC increased its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 7.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,470 shares of the industrial products company’s stock after acquiring an additional 101 shares during the quarter. Parallel Advisors LLC’s holdings in Rockwell Automation were worth $420,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Prospera Financial Services Inc boosted its holdings in shares of Rockwell Automation by 0.9% in the 3rd quarter. Prospera Financial Services Inc now owns 4,033 shares of the industrial products company’s stock valued at $1,083,000 after buying an additional 37 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its stake in Rockwell Automation by 0.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company’s stock valued at $1,199,000 after acquiring an additional 38 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in shares of Rockwell Automation by 3.0% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,351 shares of the industrial products company’s stock worth $386,000 after purchasing an additional 39 shares during the last quarter. Fortitude Advisory Group L.L.C. increased its position in shares of Rockwell Automation by 3.8% during the fourth quarter. Fortitude Advisory Group L.L.C. now owns 1,082 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 40 shares in the last quarter. Finally, Knuff & Co LLC lifted its holdings in shares of 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 owned by institutional investors and hedge funds.

Insider Buying and Selling at Rockwell Automation

In other news, VP Isaac Woods sold 895 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $274.72, for a total value of $245,874.40. Following the sale, the vice president now directly owns 1,198 shares in the company, valued at $329,114.56. This represents a 42.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Scott Genereux sold 500 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $290.14, for a total value of $145,070.00. Following the sale, the vice president now owns 1,905 shares in the company, valued at approximately $552,716.70. This trade represents a 20.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,352 shares of company stock valued at $1,246,298 over the last quarter. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Citigroup lifted their price target on Rockwell Automation from $345.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. HSBC raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $355.00 target price on the stock in a report on Wednesday, December 11th. JPMorgan Chase & Co. decreased their price target on shares of Rockwell Automation from $245.00 to $240.00 and set an “underweight” rating for the company in a research note on Wednesday, January 15th. Robert W. Baird lifted their price objective on shares of Rockwell Automation from $305.00 to $315.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, Oppenheimer increased their target price on shares of Rockwell Automation from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $307.68.

Rockwell Automation Stock Up 0.2 %

ROK stock opened at $258.67 on Friday. Rockwell Automation, Inc. has a 52 week low of $242.81 and a 52 week high of $308.70. The company has a current ratio of 1.08, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. The company has a market cap of $29.25 billion, a P/E ratio of 32.21, a P/E/G ratio of 3.53 and a beta of 1.39. The company’s 50-day moving average price is $280.13 and its 200 day moving average price is $278.32.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Monday, February 10th. The industrial products company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.22. Rockwell Automation had a return on equity of 30.17% and a net margin of 11.38%. On average, research analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were given a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Tuesday, February 18th. Rockwell Automation’s payout ratio is currently 65.26%.

Rockwell Automation Company 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.