Linscomb & Williams Inc. Buys New Stake in Rockwell Automation (ROK)

Linscomb & Williams Inc. bought a new stake in Rockwell Automation (NYSE:ROK) in the 4th quarter, Holdings Channel reports. The institutional investor bought 1,130 shares of the industrial products company’s stock, valued at approximately $222,000.

Several other large investors have also recently modified their holdings of ROK. Ameriprise Financial Inc. raised its position in shares of Rockwell Automation by 47.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,558,748 shares of the industrial products company’s stock valued at $277,788,000 after buying an additional 499,745 shares in the last quarter. APG Asset Management N.V. raised its position in shares of Rockwell Automation by 153.3% in the 3rd quarter. APG Asset Management N.V. now owns 326,473 shares of the industrial products company’s stock valued at $58,181,000 after buying an additional 197,600 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Rockwell Automation by 1,078.5% in the 2nd quarter. Janus Henderson Group PLC now owns 199,405 shares of the industrial products company’s stock valued at $32,295,000 after buying an additional 182,485 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Rockwell Automation by 12.8% in the 3rd quarter. Wells Fargo & Company MN now owns 1,509,470 shares of the industrial products company’s stock valued at $269,003,000 after buying an additional 171,598 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its position in shares of Rockwell Automation by 22.2% in the 3rd quarter. Pictet Asset Management Ltd. now owns 859,437 shares of the industrial products company’s stock valued at $153,160,000 after buying an additional 156,395 shares in the last quarter. Institutional investors own 72.75% of the company’s stock.

In other Rockwell Automation news, VP Steven W. Etzel sold 514 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $190.75, for a total transaction of $98,045.50. Following the sale, the vice president now directly owns 7,737 shares of the company’s stock, valued at approximately $1,475,832.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Theodore D. Crandall sold 23,600 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $200.71, for a total transaction of $4,736,756.00. Following the sale, the insider now directly owns 113,977 shares in the company, valued at $22,876,323.67. The disclosure for this sale can be found here. Insiders have sold a total of 70,866 shares of company stock worth $14,176,791 over the last three months. Insiders own 1.28% of the company’s stock.

Rockwell Automation (ROK) opened at $194.02 on Monday. The stock has a market cap of $24,792.81, a P/E ratio of 27.88, a P/E/G ratio of 2.19 and a beta of 1.17. Rockwell Automation has a 12-month low of $147.55 and a 12-month high of $210.72. The company has a current ratio of 1.98, a quick ratio of 1.73 and a debt-to-equity ratio of 0.57.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.22. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Rockwell Automation had a net margin of 5.85% and a return on equity of 39.45%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.75 EPS. analysts anticipate that Rockwell Automation will post 7.79 earnings per share for the current year.

Rockwell Automation announced that its board has authorized a share buyback program on Wednesday, January 24th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Several equities analysts have recently commented on the stock. Citigroup dropped their target price on shares of Rockwell Automation from $214.00 to $209.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Morgan Stanley upped their price objective on shares of Rockwell Automation from $194.00 to $206.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. upped their price objective on shares of Rockwell Automation from $182.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Zacks Investment Research upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $224.00 price objective for the company in a research report on Monday, January 29th. Finally, UBS Group started coverage on shares of Rockwell Automation in a research report on Monday, January 22nd. They set a “buy” rating for the company. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $183.15.

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

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