Weil Company Inc. has significantly increased its investment in Rockwell Automation, Inc. (NYSE: ROK), raising its stake by 27.9% during the first quarter of 2023. According to a recent filing with the Securities and Exchange Commission (SEC), Weil now holds 8,780 shares of the automation and digital transformation company, following the acquisition of an additional 1,916 shares. As of the latest disclosure, Weil’s holdings in Rockwell Automation are valued at approximately $2,269,000.
A number of other institutional investors have also adjusted their positions in Rockwell Automation. For instance, Fifth Third Bancorp increased its stake by 8.5% during the first quarter, now owning 5,424 shares worth around $1,401,000 after adding 423 shares in the last quarter. Meanwhile, the Teacher Retirement System of Texas raised its holdings by an impressive 39.1% during the fourth quarter, acquiring 299 additional shares for a total of 1,063 shares valued at $304,000.
Brighton Jones LLC also entered the fray by purchasing a new stake in Rockwell Automation during the fourth quarter, valued at about $281,000. Additionally, Allspring Global Investments Holdings LLC increased its holdings by 0.8% in the first quarter, now owning 5,652 shares worth approximately $1,462,000. Schroder Investment Management Group enhanced its position by 14.9% during the fourth quarter, now holding 14,478 shares valued at around $4,135,000. Currently, institutional investors own 75.75% of Rockwell Automation’s stock.
In related developments, Vice President Terry L. Riesterer sold 2,500 shares of Rockwell Automation on May 12, 2023, at an average price of $304.13, for a total transaction value of $760,325. Following this sale, Riesterer retained 1,033 shares valued at about $314,166.29, indicating a 70.76% decrease in ownership. Similarly, Senior Vice President Matheus De A. G. Viera Bulho sold 939 shares on the same day for approximately $285,681.36, resulting in a 48.86% reduction in their position. Over the past quarter, insiders have sold a total of 7,388 shares valued at about $2,307,487, representing 0.68% of the company’s stock.
Rockwell Automation’s Recent Performance and Future Outlook
On the market, Rockwell Automation’s shares opened at $345.17 on the latest trading day. The company’s 50-day moving average stands at $315.46, while its 200-day moving average is $284.81. Over the past year, the stock has fluctuated between a low of $215.00 and a high of $348.43. Notably, Rockwell Automation has a debt-to-equity ratio of 0.71, a current ratio of 1.05, and a quick ratio of 0.72. The company boasts a market capitalization of approximately $38.91 billion, with a price-to-earnings (P/E) ratio of 43.47 and a price-to-earnings-growth (PEG) ratio of 3.83.
Rockwell Automation recently reported its earnings results on May 7, 2023, revealing earnings per share (EPS) of $2.45 for the quarter, surpassing analysts’ expectations of $2.09 by $0.36. The company achieved a return on equity of 30.16% and a net margin of 11.38%. Revenue for the quarter reached $2 billion, exceeding the forecast of $1.97 billion, although this represents a 5.9% decline compared to the same quarter the previous year. Analysts project that Rockwell Automation will report an EPS of 9.35 for the current fiscal year.
Dividend Announcement and Company Profile
In addition to its investment activity and earnings report, Rockwell Automation recently announced a quarterly dividend of $1.31 per share, set to be paid on September 10, 2023. Shareholders of record on August 18, 2023 will be eligible for this dividend, which represents an annualized dividend of $5.24 and a yield of 1.52%. The company’s dividend payout ratio currently stands at 65.99%.
Rockwell Automation, Inc. specializes in providing industrial automation and digital transformation solutions across various regions, including North America, Europe, the Middle East, Africa, Asia Pacific, and Latin America. The company operates through three primary segments: Intelligent Devices, Software & Control, and Lifecycle Services, offering a range of hardware and software products and services tailored to its clients’ needs.
