Rockwell Automation, Inc. (NYSE:ROK) Shares Bought by Rhumbline Advisers
Rhumbline Advisers boosted its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,031 shares of the industrial products company’s stock after buying an additional 3,461 shares during the period. Rhumbline Advisers’ holdings in Rockwell Automation were worth $45,030,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in ROK. Bank of America Corp DE raised its position in Rockwell Automation by 27.0% in the first quarter. Bank of America Corp DE now owns 1,037,845 shares of the industrial products company’s stock valued at $161,602,000 after buying an additional 220,675 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Rockwell Automation during the first quarter valued at $1,315,000. Suntrust Banks Inc. raised its position in Rockwell Automation by 3.1% in the first quarter. Suntrust Banks Inc. now owns 7,127 shares of the industrial products company’s stock valued at $1,108,000 after buying an additional 216 shares in the last quarter. Columbia Partners L L C Investment Management raised its position in Rockwell Automation by 11.8% in the first quarter. Columbia Partners L L C Investment Management now owns 8,632 shares of the industrial products company’s stock valued at $1,344,000 after buying an additional 912 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Rockwell Automation by 36.3% in the first quarter. Russell Investments Group Ltd. now owns 305,997 shares of the industrial products company’s stock valued at $47,653,000 after buying an additional 81,426 shares in the last quarter. 73.38% of the stock is currently owned by institutional investors and hedge funds.
Shares of Rockwell Automation, Inc. (ROK) opened at 161.66 on Friday. The firm’s 50-day moving average price is $164.02 and its 200 day moving average price is $157.31. Rockwell Automation, Inc. has a 12-month low of $111.52 and a 12-month high of $167.97. The stock has a market capitalization of $20.75 billion, a P/E ratio of 26.07 and a beta of 1.17.
Rockwell Automation (NYSE:ROK) last announced its earnings results on Wednesday, July 26th. The industrial products company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.12. Rockwell Automation had a return on equity of 40.71% and a net margin of 13.04%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the company earned $1.55 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts predict that Rockwell Automation, Inc. will post $6.75 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 14th will be paid a dividend of $0.76 per share. The ex-dividend date is Thursday, August 10th. This represents a $3.04 annualized dividend and a yield of 1.88%. Rockwell Automation’s payout ratio is 49.03%.
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Several equities analysts have recently weighed in on ROK shares. Cowen and Company lifted their price objective on Rockwell Automation from $125.00 to $140.00 and gave the company a “market perform” rating in a research note on Thursday, July 6th. Credit Suisse Group reissued a “hold” rating and set a $155.00 price target on shares of Rockwell Automation in a research report on Thursday, April 27th. Zacks Investment Research raised Rockwell Automation from a “hold” rating to a “buy” rating and set a $182.00 price target on the stock in a research report on Friday, July 28th. Gabelli raised Rockwell Automation from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th. Finally, Stifel Nicolaus boosted their price target on Rockwell Automation from $159.00 to $167.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $152.33.
In related news, VP Steven W. Etzel sold 3,000 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $158.54, for a total transaction of $475,620.00. Following the completion of the sale, the vice president now owns 9,465 shares in the company, valued at approximately $1,500,581.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William T. Jr/Wi Mccormick sold 432 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $158.07, for a total value of $68,286.24. Following the sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $1,439,859.63. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,257 shares of company stock valued at $18,686,369. 1.65% of the stock is 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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