Rockwell Automation Inc. (ROK) Position Increased by Mizuho Asset Management Co. Ltd.
Mizuho Asset Management Co. Ltd. raised its stake in shares of Rockwell Automation Inc. (NYSE:ROK) by 105.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,759 shares of the company’s stock after buying an additional 903 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in Rockwell Automation were worth $202,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Checchi Capital Advisers LLC increased its stake in shares of Rockwell Automation by 0.5% in the second quarter. Checchi Capital Advisers LLC now owns 938 shares of the company’s stock valued at $108,000 after buying an additional 5 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Rockwell Automation during the first quarter valued at $110,000. Citizens Financial Group Inc RI increased its stake in shares of Rockwell Automation by 20.9% in the first quarter. Citizens Financial Group Inc RI now owns 1,344 shares of the company’s stock valued at $153,000 after buying an additional 232 shares in the last quarter. Telemus Capital LLC acquired a new stake in shares of Rockwell Automation during the second quarter valued at $201,000. Finally, Nicolet Bankshares Inc. acquired a new stake in shares of Rockwell Automation during the second quarter valued at $205,000. Institutional investors own 74.29% of the company’s stock.
Shares of Rockwell Automation Inc. (NYSE:ROK) traded up 1.291% during midday trading on Wednesday, reaching $116.525. The company had a trading volume of 161,993 shares. The firm’s 50 day moving average price is $116.77 and its 200-day moving average price is $114.97. The company has a market capitalization of $15.08 billion, a P/E ratio of 20.730 and a beta of 1.22. Rockwell Automation Inc. has a 12 month low of $87.53 and a 12 month high of $120.75.
Rockwell Automation (NYSE:ROK) last posted its earnings results on Wednesday, July 27th. The company reported $1.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.09. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Rockwell Automation had a net margin of 12.54% and a return on equity of 35.83%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.59 earnings per share. Analysts anticipate that Rockwell Automation Inc. will post $5.90 earnings per share for the current fiscal year.
A number of research firms recently commented on ROK. Credit Suisse Group AG reiterated a “hold” rating on shares of Rockwell Automation in a research note on Saturday, July 9th. Canaccord Genuity downgraded Rockwell Automation from a “buy” rating to a “hold” rating and set a $94.00 price target for the company. in a research note on Tuesday, July 26th. Zacks Investment Research upgraded Rockwell Automation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Citigroup Inc. decreased their price target on Rockwell Automation from $120.00 to $118.00 and set a “neutral” rating for the company in a research note on Thursday, July 28th. Finally, Barclays PLC decreased their price target on Rockwell Automation from $120.00 to $118.00 and set an “equal weight” rating for the company in a research note on Thursday, July 28th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $105.08.
In related news, VP Douglas M. Hagerman sold 1,400 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $119.17, for a total value of $166,838.00. Following the sale, the vice president now owns 32,091 shares of the company’s stock, valued at $3,824,284.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Douglas M. Hagerman sold 4,300 shares of the company’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $119.96, for a total transaction of $515,828.00. The disclosure for this sale can be found here. 1.54% of the stock is currently owned by corporate insiders.
About Rockwell Automation
Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.
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