Sumitomo Life Insurance Co. Acquires 7,705 Shares of Rockwell Automation, Inc. (ROK)

Sumitomo Life Insurance Co. raised its position in Rockwell Automation, Inc. (NYSE:ROK) by 194.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,675 shares of the industrial products company’s stock after buying an additional 7,705 shares during the period. Sumitomo Life Insurance Co.’s holdings in Rockwell Automation were worth $1,891,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in ROK. Quadrature Capital Ltd bought a new stake in Rockwell Automation during the fourth quarter worth approximately $2,084,000. Teachers Advisors LLC boosted its stake in Rockwell Automation by 59.1% in the fourth quarter. Teachers Advisors LLC now owns 291,486 shares of the industrial products company’s stock worth $39,176,000 after buying an additional 108,330 shares during the period. Kentucky Retirement Systems bought a new stake in Rockwell Automation during the fourth quarter worth approximately $1,251,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Rockwell Automation during the fourth quarter worth approximately $558,000. Finally, Macquarie Group Ltd. boosted its stake in Rockwell Automation by 97.5% in the fourth quarter. Macquarie Group Ltd. now owns 7,900 shares of the industrial products company’s stock worth $1,062,000 after buying an additional 3,900 shares during the period. Hedge funds and other institutional investors own 73.38% of the company’s stock.

Rockwell Automation, Inc. (NYSE ROK) opened at 161.38 on Friday. The stock has a 50 day moving average of $164.38 and a 200 day moving average of $157.79. The company has a market cap of $20.71 billion, a PE ratio of 26.02 and a beta of 1.17. Rockwell Automation, Inc. has a 12-month low of $111.52 and a 12-month high of $167.97.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.12. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Rockwell Automation had a net margin of 13.04% and a return on equity of 40.71%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm earned $1.55 EPS. Equities analysts expect that Rockwell Automation, Inc. will post $6.75 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Monday, August 14th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $3.04 annualized dividend and a dividend yield of 1.88%. Rockwell Automation’s payout ratio is 49.03%.

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A number of equities research analysts recently commented on ROK shares. Stifel Nicolaus reaffirmed a “hold” rating and issued a $167.00 price target on shares of Rockwell Automation in a report on Wednesday, July 19th. BidaskClub cut shares of Rockwell Automation from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Cowen and Company boosted their target price 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. Morgan Stanley boosted their target price on shares of Rockwell Automation from $153.00 to $167.00 and gave the company an “equal weight” rating in a report on Friday, April 28th. Finally, Credit Suisse Group reissued a “hold” rating and set a $155.00 target price on shares of Rockwell Automation in a report on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $152.33.

In other news, SVP Frank C. Kulaszewicz sold 4,900 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $159.00, for a total transaction of $779,100.00. Following the sale, the senior vice president now directly owns 30,095 shares in the company, valued at approximately $4,785,105. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John M. Miller sold 1,825 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $165.37, for a total transaction of $301,800.25. The disclosure for this sale can be found here. Insiders have sold a total of 114,825 shares of company stock worth $18,637,613 over the last 90 days. Insiders own 1.65% of the company’s stock.

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.

Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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