American International Group Inc. Grows Position in Rockwell Automation, Inc. (NYSE:ROK) (2024)

Posted by Defense World Staff on Jun 19th, 2024

American International Group Inc. grew its stake in shares of Rockwell Automation, Inc. (NYSE:ROK – Free Report) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,730 shares of the industrial products company’s stock after buying an additional 308 shares during the period. American International Group Inc.’s holdings in Rockwell Automation were worth $9,852,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new stake in shares of Rockwell Automation during the fourth quarter valued at about $27,000. Provence Wealth Management Group bought a new stake in shares of Rockwell Automation during the third quarter valued at about $27,000. Security National Bank bought a new stake in shares of Rockwell Automation during the fourth quarter valued at about $40,000. Fortitude Family Office LLC bought a new stake in shares of Rockwell Automation during the fourth quarter valued at about $46,000. Finally, Cape Investment Advisory Inc. bought a new stake in shares of Rockwell Automation during the fourth quarter valued at about $54,000. 75.75% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Cyril Perducat sold 659 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $260.11, for a total transaction of $171,412.49. Following the completion of the sale, the senior vice president now owns 4,630 shares of the company’s stock, valued at $1,204,309.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Cyril Perducat sold 659 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $260.11, for a total value of $171,412.49. Following the completion of the sale, the senior vice president now owns 4,630 shares of the company’s stock, valued at $1,204,309.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tessa M. Myers sold 528 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total value of $133,995.84. Following the completion of the sale, the senior vice president now directly owns 3,718 shares of the company’s stock, valued at approximately $943,554.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,199 shares of company stock valued at $572,750. 0.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company decreased their price target on Rockwell Automation from $320.00 to $312.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Citigroup decreased their price objective on shares of Rockwell Automation from $322.00 to $316.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Mizuho decreased their price objective on shares of Rockwell Automation from $265.00 to $260.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Barclays decreased their price objective on shares of Rockwell Automation from $260.00 to $250.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 4th. Finally, Loop Capital decreased their price objective on shares of Rockwell Automation from $300.00 to $290.00 and set a “hold” rating on the stock in a research report on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $307.21.

Get Our Latest Report on Rockwell Automation

Rockwell Automation Stock Up 0.7 %

Shares of NYSE ROK opened at $260.31 on Wednesday. Rockwell Automation, Inc. has a one year low of $249.00 and a one year high of $348.52. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.11 and a quick ratio of 0.74. The firm’s 50 day simple moving average is $268.74 and its two-hundred day simple moving average is $282.38. The stock has a market capitalization of $29.68 billion, a P/E ratio of 25.45, a PEG ratio of 3.97 and a beta of 1.38.

Rockwell Automation (NYSE:ROK – Get Free Report) last released its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.35. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.05 billion. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.01 earnings per share. As a group, analysts expect that Rockwell Automation, Inc. will post 10.14 EPS for the current fiscal year.

Rockwell Automation Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Monday, August 12th. Rockwell Automation’s dividend payout ratio (DPR) is presently 48.88%.

About Rockwell Automation

(Free Report)

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.