Sei Investments Co. lowered its stake in Rockwell Automation, Inc. (NYSE:ROK) by 18.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,245 shares of the industrial products company’s stock after selling 18,695 shares during the period. Sei Investments Co. owned approximately 0.06% of Rockwell Automation worth $13,321,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Jacobus Wealth Management Inc. purchased a new stake in Rockwell Automation during the first quarter worth approximately $104,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in Rockwell Automation by 1,700.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 720 shares of the industrial products company’s stock worth $112,000 after buying an additional 680 shares during the period. Clarkston Capital Partners LLC purchased a new position in Rockwell Automation during the second quarter worth about $206,000. Appleton Group LLC purchased a new position in Rockwell Automation during the first quarter worth about $213,000. Finally, Hunter Associates Investment Management LLC purchased a new position in Rockwell Automation during the first quarter worth about $215,000. Institutional investors own 73.38% of the company’s stock.
Rockwell Automation, Inc. (NYSE ROK) traded up 0.07% during trading on Friday, reaching $161.38. 567,777 shares of the company traded hands. The firm’s 50 day moving average price is $164.38 and its 200 day moving average price is $157.79. Rockwell Automation, Inc. has a 12-month low of $111.52 and a 12-month high of $167.97. The firm has a market capitalization of $20.71 billion, a price-to-earnings ratio of 26.02 and a beta of 1.17.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings results 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 business had revenue of $1.60 billion during 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%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 earnings per share. Equities research analysts expect that Rockwell Automation, Inc. will post $6.75 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 14th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $3.04 annualized dividend and a yield of 1.88%. Rockwell Automation’s dividend payout ratio (DPR) is presently 49.03%.
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A number of equities analysts have recently commented on ROK shares. Zacks Investment Research downgraded shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Rockwell Automation in a research report on Friday. Stifel Nicolaus raised their price objective on shares of Rockwell Automation from $159.00 to $167.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Wolfe Research assumed coverage on shares of Rockwell Automation in a research report on Tuesday, July 11th. They set a “peer perform” rating for the company. Finally, BidaskClub downgraded shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Two 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’s stock. The company currently has an average rating of “Hold” and an average target price of $152.33.
In other news, Director Keith D. Nosbusch sold 20,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $159.00, for a total transaction of $3,180,000.00. Following the transaction, the director now owns 421,286 shares in the company, valued at approximately $66,984,474. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Elik I. Fooks sold 3,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $159.04, for a total value of $477,120.00. Following the transaction, the insider now owns 10,799 shares in the company, valued at approximately $1,717,472.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,825 shares of company stock worth $18,637,613. 1.65% of the stock is 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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