Rockwell Automation Inc. (ROK) Position Maintained by Midas Management Corp
Midas Management Corp held its stake in Rockwell Automation Inc. (NYSE:ROK) during the second quarter, Holdings Channel reports. The firm owned 10,300 shares of the company’s stock at the end of the second quarter. Midas Management Corp’s holdings in Rockwell Automation were worth $1,183,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the company. Checchi Capital Advisers LLC raised its stake in Rockwell Automation by 0.5% in the second quarter. Checchi Capital Advisers LLC now owns 938 shares of the company’s stock worth $108,000 after buying an additional 5 shares during the period. Regentatlantic Capital LLC raised its stake in Rockwell Automation by 0.7% in the second quarter. Regentatlantic Capital LLC now owns 1,806 shares of the company’s stock worth $207,000 after buying an additional 13 shares during the period. Strs Ohio raised its stake in Rockwell Automation by 0.4% in the second quarter. Strs Ohio now owns 5,535 shares of the company’s stock worth $635,000 after buying an additional 23 shares during the period. Private Bank & Trust Co. raised its stake in Rockwell Automation by 3.8% in the second quarter. Private Bank & Trust Co. now owns 2,025 shares of the company’s stock worth $232,000 after buying an additional 75 shares during the period. Finally, Portland Global Advisors LLC raised its stake in Rockwell Automation by 0.4% in the second quarter. Portland Global Advisors LLC now owns 17,930 shares of the company’s stock worth $2,059,000 after buying an additional 75 shares during the period. 74.26% of the stock is currently owned by institutional investors and hedge funds.
Shares of Rockwell Automation Inc. (NYSE:ROK) traded down 1.10% on Monday, reaching $115.52. 758,087 shares of the company’s stock traded hands. The stock has a 50-day moving average of $116.76 and a 200 day moving average of $115.93. The firm has a market cap of $14.95 billion, a P/E ratio of 20.55 and a beta of 1.15. Rockwell Automation Inc. has a 12-month low of $87.53 and a 12-month high of $123.48.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, July 27th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.09. The firm 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 company’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.59 earnings per share. On average, equities research analysts expect that Rockwell Automation Inc. will post $5.90 earnings per share for the current year.
A number of research firms recently weighed in on ROK. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Rockwell Automation in a report on Saturday, July 9th. Barclays PLC decreased their target price on shares of Rockwell Automation from $120.00 to $118.00 and set an “equal weight” rating on the stock in a report on Thursday, July 28th. Citigroup Inc. decreased their target price on shares of Rockwell Automation from $120.00 to $118.00 and set a “neutral” rating on the stock in a report on Thursday, July 28th. Canaccord Genuity lowered shares of Rockwell Automation from a “buy” rating to a “hold” rating and set a $94.00 target price on the stock. in a report on Tuesday, July 26th. Finally, Zacks Investment Research raised shares of Rockwell Automation from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Seven research 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. Rockwell Automation currently has a consensus rating of “Hold” and an average price target of $108.43.
In related news, CFO Theodore D. Crandall sold 5,404 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $118.49, for a total value of $640,319.96. Following the sale, the chief financial officer now owns 98,135 shares in the company, valued at $11,628,016.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David M. Dorgan sold 2,200 shares of the business’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $119.06, for a total transaction of $261,932.00. Following the completion of the sale, the vice president now owns 12,500 shares in the company, valued at approximately $1,488,250. The disclosure for this sale can be found here. 1.54% of the stock is currently owned by corporate insiders.
Rockwell Automation Company Profile
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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