Weil Company Inc. has increased its investment in Rockwell Automation, Inc. (NYSE: ROK) by 27.9% during the first quarter of 2023, according to a recent filing with the Securities and Exchange Commission (SEC). The firm now holds 8,780 shares of the industrial automation company, having acquired an additional 1,916 shares during this period. As of its latest filing, Weil Company’s holdings in Rockwell Automation are valued at approximately $2.27 million.
Several other institutional investors have also adjusted their positions in Rockwell Automation. For instance, Fifth Third Bancorp raised its stake by 8.5% during the first quarter, now owning 5,424 shares valued at $1.40 million after purchasing an additional 423 shares. Similarly, the Teacher Retirement System of Texas increased its holdings by 39.1% in the last quarter of 2022, now possessing 1,063 shares valued at $304,000.
Brighton Jones LLC entered the market by purchasing a new stake in Rockwell Automation during the fourth quarter, valued at around $281,000. Additionally, Allspring Global Investments Holdings LLC raised its holdings by 0.8% in the first quarter, acquiring 5,652 shares worth $1.46 million after adding 43 shares in the previous quarter. Schroder Investment Management Group also increased its investment by 14.9%, owning 14,478 shares valued at $4.14 million after acquiring 1,872 shares.
Over 75% of Rockwell Automation’s stock is currently held by institutional investors, reflecting strong confidence among larger financial entities in the company’s performance.
In related news, on May 12, 2023, Vice President Terry L. Riesterer sold 2,500 shares of Rockwell Automation at an average price of $304.13, totaling $760,325. Following this sale, Riesterer’s ownership decreased by 70.76%, leaving him with 1,033 shares valued at approximately $314,166.29. Additionally, Senior Vice President Matheus De A. G. Viera Bulho sold 939 shares at an average price of $304.24, resulting in a total value of $285,681.36 and a 48.86% reduction in his position.
Throughout the last quarter, insiders sold a total of 7,388 shares of Rockwell Automation stock, valued at around $2.31 million. Currently, insiders hold 0.68% of the company’s stock.
Rockwell Automation’s Market Performance
As of the close of trading on Friday, Rockwell Automation shares opened at $345.17. The company has witnessed a 50-day moving average of $315.46 and a 200-day moving average of $284.81. Over the past year, Rockwell Automation’s stock has fluctuated between a low of $215.00 and a high of $348.43.
In its most recent earnings report on May 7, 2023, Rockwell Automation reported earnings of $2.45 per share, surpassing analyst expectations of $2.09 by $0.36. The company’s revenue for the quarter reached $2 billion, exceeding estimates of $1.97 billion. This marks a 5.9% decline in revenue compared to the same quarter last year, when the company reported earnings of $2.50 per share.
Analysts forecast that Rockwell Automation will post $9.35 earnings per share for the current fiscal year, indicating continued optimism about the company’s financial outlook.
Dividend Announcement
Rockwell Automation also announced a quarterly dividend of $1.31 per share, scheduled for payment on September 10, 2023. Shareholders of record on August 18, 2023 will receive this dividend, which reflects an annualized dividend of $5.24 and a yield of 1.52%. The company’s current dividend payout ratio stands at 65.99%.
Rockwell Automation, headquartered in Milwaukee, Wisconsin, provides a range of industrial automation and digital transformation solutions across North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three main segments: Intelligent Devices, Software & Control, and Lifecycle Services, offering a comprehensive portfolio of hardware and software products to meet diverse industrial needs.
For further details on Rockwell Automation and its market activities, investors can access additional insights through various financial news platforms.
