Captrust’s Stake Reduction in Rockwell Automation

Captrust’s Stake Reduction in Rockwell Automation

Captrust Financial Advisors trimmed its holdings in Rockwell Automation by 8.2% during the third quarter of 2024. After selling 2,209 shares, the firm now owns 24,725 shares valued at approximately $6.64 million. This follows a broader trend of institutional investors reassessing their positions in industrial stocks, with a total of 75.75% of Rockwell’s stock currently owned by institutional investors.

Institutional Investors’ Shifts in Rockwell Automation‘s Stock

Several institutional investors adjusted their positions in Rockwell Automation during the same period. Isthmus Partners LLC increased its stake by 3.0%, acquiring 1,223 additional shares, bringing its holdings to 41,699 shares valued at $11.2 million. Meanwhile, UBS AM, a distinct business unit of UBS Asset Management Americas, raised its stake by 6.4%, now owning over 1.12 million shares valued at $303 million. These shifts highlight the diverse views institutional players have on Rockwell‘s growth prospects.

Analyst Upgrades and Downgrades for Rockwell Automation

Several analysts have adjusted their target prices for Rockwell Automation in recent months. Morgan Stanley raised its target price to $335.00, citing strong growth potential, while BNP Paribas initiated coverage with a target price of $345.00. Robert W. Baird raised its target to $305.00, indicating confidence in Rockwell’s business strategy. However, despite these positive adjustments, the stock still holds a consensus “Hold” rating with an average target of $287.13, as analysts remain cautious amidst broader market uncertainties.

Rockwell Automation‘s Stock Performance and Financials

As of the latest data, Rockwell Automation‘s stock (ROK) has experienced a modest increase of 0.7%. The stock currently trades around $297.18, with a 50-day moving average of $275.35. Rockwell reported Q3 earnings of $2.47 per share, beating the consensus estimate by 7 cents. Despite a 20.6% year-over-year drop in revenue, the company’s strong margins and return on equity (30.42%) are encouraging signs for long-term investors.

Dividend and Share Repurchase Program Updates for Rockwell Automation

Rockwell Automation has raised its quarterly dividend to $1.31 per share, up from the previous $1.25, reflecting its strong cash flow position. The company also announced a $1 billion share repurchase program, authorized to buy up to 3.4% of its shares, signaling confidence in the stock’s long-term value. This move may also help support stock price growth, especially in the face of institutional selling pressure.

Insider Transactions and Ownership Trends at Rockwell Automation

Recent insider transactions show that Rockwell Automation‘s executives are adjusting their holdings. Veena M. Lakkundi, Senior VP, sold 579 shares for $154,511, while CEO Blake D. Moret sold 26,700 shares valued at nearly $8 million. Despite these sales, insiders still hold a small portion (0.68%) of the company’s stock. This indicates potential shifting priorities within the company’s leadership.