Rockwell Automation (ROK) Holdings Trimmed by AMP Capital Investors Ltd

AMP Capital Investors Ltd reduced its stake in shares of Rockwell Automation (NYSE:ROK) by 24.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,396 shares of the industrial products company’s stock after selling 11,389 shares during the period. AMP Capital Investors Ltd’s holdings in Rockwell Automation were worth $5,884,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Rockwell Automation by 0.9% in the 1st quarter. BlackRock Inc. now owns 9,883,663 shares of the industrial products company’s stock valued at $1,721,735,000 after buying an additional 91,879 shares during the period. UBS Group AG boosted its holdings in shares of Rockwell Automation by 4.6% in the 1st quarter. UBS Group AG now owns 5,120,696 shares of the industrial products company’s stock valued at $892,025,000 after buying an additional 227,226 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Rockwell Automation by 6.1% in the 1st quarter. Franklin Resources Inc. now owns 1,408,518 shares of the industrial products company’s stock valued at $245,366,000 after buying an additional 81,519 shares during the period. Schroder Investment Management Group boosted its holdings in shares of Rockwell Automation by 0.3% in the 1st quarter. Schroder Investment Management Group now owns 929,686 shares of the industrial products company’s stock valued at $161,952,000 after buying an additional 3,124 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Rockwell Automation by 15.5% in the 1st quarter. Legal & General Group Plc now owns 782,243 shares of the industrial products company’s stock valued at $136,276,000 after buying an additional 104,888 shares during the period. 76.68% of the stock is owned by institutional investors.

Several research analysts have recently commented on the stock. UBS Group decreased their price target on shares of Rockwell Automation from $210.00 to $205.00 and set a “buy” rating for the company in a report on Thursday, August 30th. Morgan Stanley assumed coverage on shares of Rockwell Automation in a report on Tuesday, August 21st. They issued an “underweight” rating and a $163.00 price target for the company. Zacks Investment Research lowered shares of Rockwell Automation from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Barclays reaffirmed a “hold” rating and issued a $176.00 price target on shares of Rockwell Automation in a report on Thursday, July 26th. Finally, Goldman Sachs Group lowered shares of Rockwell Automation from a “neutral” rating to a “sell” rating and set a $156.00 price target for the company. in a report on Monday, July 16th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $184.38.

In related news, insider Theodore D. Crandall sold 5,533 shares of Rockwell Automation stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $187.34, for a total value of $1,036,552.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Steven W. Etzel sold 1,400 shares of Rockwell Automation stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $187.68, for a total transaction of $262,752.00. Following the completion of the sale, the vice president now owns 8,668 shares in the company, valued at $1,626,810.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,433 shares of company stock worth $2,086,894. 1.65% of the stock is currently owned by insiders.

Shares of NYSE:ROK opened at $191.60 on Friday. The stock has a market capitalization of $22.83 billion, a P/E ratio of 28.34, a PEG ratio of 1.99 and a beta of 1.24. Rockwell Automation has a fifty-two week low of $155.81 and a fifty-two week high of $210.72. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.60 and a current ratio of 1.93.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, July 25th. The industrial products company reported $2.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.12. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.70 billion. Rockwell Automation had a net margin of 5.97% and a return on equity of 48.24%. Rockwell Automation’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $1.76 EPS. research analysts expect that Rockwell Automation will post 8.01 earnings per share for the current fiscal year.

Rockwell Automation announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

About Rockwell Automation

Rockwell Automation Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.

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

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