Granite Investment Partners LLC Has $1.41 Million Stake in Rockwell Automation, Inc. (NYSE:ROK)
Granite Investment Partners LLC raised its position in Rockwell Automation, Inc. (NYSE:ROK) by 2.4% during the second quarter, Holdings Channel reports. The fund owned 8,697 shares of the industrial products company’s stock after buying an additional 200 shares during the period. Granite Investment Partners LLC’s holdings in Rockwell Automation were worth $1,409,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. BlackRock Inc. raised its stake in shares of Rockwell Automation by 3,186.3% in the first quarter. BlackRock Inc. now owns 9,018,663 shares of the industrial products company’s stock worth $1,404,295,000 after buying an additional 8,744,232 shares during the last quarter. Vanguard Group Inc. increased its position in Rockwell Automation by 3.3% in the first quarter. Vanguard Group Inc. now owns 8,501,207 shares of the industrial products company’s stock valued at $1,323,724,000 after buying an additional 270,023 shares during the period. State Street Corp increased its position in Rockwell Automation by 1.3% in the first quarter. State Street Corp now owns 5,749,538 shares of the industrial products company’s stock valued at $895,260,000 after buying an additional 76,191 shares during the period. Geode Capital Management LLC increased its position in Rockwell Automation by 11.4% in the first quarter. Geode Capital Management LLC now owns 1,406,332 shares of the industrial products company’s stock valued at $218,703,000 after buying an additional 143,507 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Rockwell Automation by 231.2% in the first quarter. JPMorgan Chase & Co. now owns 1,377,769 shares of the industrial products company’s stock valued at $214,532,000 after buying an additional 961,760 shares during the period. Institutional investors and hedge funds own 73.38% of the company’s stock.
Shares of Rockwell Automation, Inc. (NYSE:ROK) opened at 161.66 on Friday. Rockwell Automation, Inc. has a 52-week low of $111.52 and a 52-week high of $167.97. The company has a 50-day moving average of $164.02 and a 200-day moving average of $157.31. The stock has a market capitalization of $20.75 billion, a price-to-earnings ratio of 26.07 and a beta of 1.17.
Rockwell Automation (NYSE:ROK) last posted 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. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Rockwell Automation had a net margin of 13.04% and a return on equity of 40.71%. Rockwell Automation’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.55 EPS. Equities research analysts anticipate that Rockwell Automation, Inc. will post $6.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 14th will be issued a $0.76 dividend. 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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ROK has been the subject of several research reports. Cowen and Company increased their price objective on shares of Rockwell Automation from $125.00 to $140.00 and gave the company a “market perform” rating in a report on Thursday, July 6th. Credit Suisse Group reissued a “hold” rating and set a $155.00 price objective on shares of Rockwell Automation in a report on Thursday, April 27th. Zacks Investment Research raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $182.00 price objective for the company in a report on Friday, July 28th. Gabelli raised shares of Rockwell Automation from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. Finally, Stifel Nicolaus increased their price objective on shares of Rockwell Automation from $159.00 to $167.00 and gave the company a “hold” rating in a report on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $152.33.
In other news, SVP Frank C. Kulaszewicz sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $165.74, for a total value of $1,325,920.00. Following the transaction, the senior vice president now directly owns 33,195 shares in the company, valued at approximately $5,501,739.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William T. Jr/Wi Mccormick sold 432 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $158.07, for a total transaction of $68,286.24. Following the completion of the transaction, the director now owns 9,109 shares in the company, valued at $1,439,859.63. The disclosure for this sale can be found here. Insiders sold a total of 115,257 shares of company stock worth $18,686,369 over the last quarter. 1.65% of the stock is currently owned by company 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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