Cohen Lawrence B cut its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 3.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,010 shares of the industrial products company’s stock after selling 1,045 shares during the period. Rockwell Automation makes up about 2.7% of Cohen Lawrence B’s holdings, making the stock its 15th largest position. Cohen Lawrence B’s holdings in Rockwell Automation were worth $4,213,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in 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. JPMorgan Chase & Co. raised its stake 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 worth $214,532,000 after buying an additional 961,760 shares during the last quarter. Schroder Investment Management Group raised its stake in Rockwell Automation by 431.1% in the first quarter. Schroder Investment Management Group now owns 701,541 shares of the industrial products company’s stock worth $109,004,000 after buying an additional 569,441 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in Rockwell Automation by 89.5% in the first quarter. TIAA CREF Investment Management LLC now owns 963,764 shares of the industrial products company’s stock worth $150,068,000 after buying an additional 455,217 shares during the last quarter. Finally, Columbus Circle Investors acquired a new stake in Rockwell Automation during the first quarter worth about $50,905,000. Institutional investors own 73.38% of the company’s stock.
Rockwell Automation, Inc. (NYSE:ROK) opened at 161.66 on Friday. The firm has a market capitalization of $20.75 billion, a P/E ratio of 26.07 and a beta of 1.17. Rockwell Automation, Inc. has a 52-week low of $111.52 and a 52-week high of $167.97. The firm’s 50-day moving average is $164.02 and its 200 day moving average is $157.31.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.76 EPS for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.12. Rockwell Automation had a net margin of 13.04% and a return on equity of 40.71%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business earned $1.55 EPS. Rockwell Automation’s quarterly revenue was up 8.5% on a year-over-year basis. Equities analysts anticipate that Rockwell Automation, Inc. will post $6.75 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 14th will be paid a $0.76 dividend. The ex-dividend date is Thursday, August 10th. This represents a $3.04 dividend on an annualized basis and a yield of 1.88%. Rockwell Automation’s dividend payout ratio (DPR) is currently 49.03%.
Several brokerages recently issued reports on ROK. Gabelli upgraded Rockwell Automation from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. Cowen and Company increased their price objective on Rockwell Automation from $125.00 to $140.00 and gave the stock a “market perform” rating in a report on Thursday, July 6th. Barclays PLC increased their price objective on Rockwell Automation from $166.00 to $167.00 and gave the stock an “overweight” rating in a report on Wednesday, April 19th. Morgan Stanley increased their price objective on Rockwell Automation from $153.00 to $167.00 and gave the stock an “equal weight” rating in a report on Friday, April 28th. Finally, Zacks Investment Research upgraded Rockwell Automation from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a report on Tuesday, July 11th. 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 an average rating of “Hold” and an average target price of $152.33.
In related news, Director William T. Jr/Wi Mccormick sold 432 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $158.07, for a total value of $68,286.24. Following the transaction, the director now owns 9,109 shares in the company, valued at approximately $1,439,859.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Frank C. Kulaszewicz sold 8,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $165.74, for a total transaction of $1,325,920.00. Following the completion of the transaction, the senior vice president now owns 33,195 shares in the company, valued at approximately $5,501,739.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,257 shares of company stock worth $18,686,369. 1.65% of the stock is owned by company 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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