Brookstone Capital Management acquired a new position in Rockwell Automation (NYSE:ROK) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,289 shares of the industrial products company’s stock, valued at approximately $212,000.
Other large investors have also modified their holdings of the company. Coastal Capital Group Inc. bought a new stake in Rockwell Automation in the second quarter worth $25,000. Griffin Asset Management Inc. bought a new stake in Rockwell Automation during the second quarter valued at about $26,000. Capital Advisors Ltd. LLC boosted its holdings in Rockwell Automation by 426.5% during the second 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. River & Mercantile Asset Management LLP bought a new stake in Rockwell Automation during the second quarter valued at about $31,000. Finally, Glassman Wealth Services boosted its holdings in Rockwell Automation by 65.6% during the second quarter. Glassman Wealth Services now owns 212 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 84 shares during the period. Hedge funds and other institutional investors own 73.09% of the company’s stock.
A number of equities research analysts have issued reports on ROK shares. Wells Fargo & Co cut shares of Rockwell Automation from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $185.00 to $165.00 in a report on Monday, September 30th. Gordon Haskett cut shares of Rockwell Automation from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. upped their price target on shares of Rockwell Automation from $145.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Longbow Research restated a “hold” rating on shares of Rockwell Automation in a report on Tuesday, September 17th. Finally, Barclays restated a “hold” rating and set a $159.00 price target on shares of Rockwell Automation in a report on Friday, October 4th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $171.36.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.40 EPS for the quarter, beating the Zacks’ consensus estimate of $2.29 by $0.11. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.72 billion. Rockwell Automation had a net margin of 15.44% and a return on equity of 78.71%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.16 earnings per share. As a group, equities analysts forecast that Rockwell Automation will post 8.61 earnings per share for the current year.
In other news, VP John M. Miller sold 3,250 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $163.67, for a total transaction of $531,927.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.43% of the stock is currently owned by corporate insiders.
Rockwell Automation Profile
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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