Watch Point Trust Co Buys 2,610 Shares of Rockwell Automation (NYSE:ROK)

Watch Point Trust Co grew its stake in shares of Rockwell Automation (NYSE:ROK) by 13.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,901 shares of the industrial products company’s stock after purchasing an additional 2,610 shares during the period. Rockwell Automation makes up 2.0% of Watch Point Trust Co’s investment portfolio, making the stock its 24th largest holding. Watch Point Trust Co’s holdings in Rockwell Automation were worth $3,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ROK. Coastal Capital Group Inc. purchased a new position in Rockwell Automation during the 2nd quarter valued at about $25,000. Zions Bancorporation N.A. purchased a new position in Rockwell Automation during the 1st quarter valued at about $26,000. TCG Advisors LP purchased a new position in Rockwell Automation during the 1st quarter valued at about $29,000. Thor Advisors LLC purchased a new position in Rockwell Automation during the 1st quarter valued at about $29,000. Finally, Capital Advisors Ltd. LLC lifted its position in Rockwell Automation by 426.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 179 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 145 shares during the period. 77.00% of the stock is currently owned by hedge funds and other institutional investors.

Rockwell Automation stock traded down $0.15 during trading hours on Thursday, hitting $146.77. The stock had a trading volume of 286,412 shares, compared to its average volume of 1,215,649. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.51 and a quick ratio of 1.17. The company has a market cap of $17.54 billion, a PE ratio of 18.10, a P/E/G ratio of 2.21 and a beta of 1.40. Rockwell Automation has a 12-month low of $141.46 and a 12-month high of $198.23. The stock has a 50-day simple moving average of $159.16.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Thursday, July 25th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.11. Rockwell Automation had a net margin of 15.44% and a return on equity of 78.71%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the company earned $2.16 earnings per share. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities analysts forecast that Rockwell Automation will post 8.64 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $3.88 annualized dividend and a dividend yield of 2.64%. Rockwell Automation’s payout ratio is 47.84%.

In other news, SVP Michael Laszkiewicz sold 263 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $159.38, for a total transaction of $41,916.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John M. Miller sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $163.67, for a total transaction of $531,927.50. The disclosure for this sale can be found here. Insiders have sold 3,810 shares of company stock valued at $621,819 over the last three months. 1.43% of the stock is owned by corporate insiders.

A number of research analysts recently issued reports on the stock. Citigroup lowered their price target on shares of Rockwell Automation from $184.00 to $181.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Morgan Stanley lowered their price target on shares of Rockwell Automation from $159.00 to $144.00 and set an “underweight” rating for the company in a research report on Friday, June 14th. JPMorgan Chase & Co. set a $154.00 price target on shares of Rockwell Automation and gave the company a “hold” rating in a research report on Friday, July 19th. Deutsche Bank lifted their price target on shares of Rockwell Automation from $173.00 to $186.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Finally, Barclays lowered their price target on shares of Rockwell Automation from $164.00 to $162.00 and set an “equal weight” rating for the company in a research report on Monday, July 1st. Four analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $173.33.

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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