Amalgamated Bank Has $3.33 Million Stake in Rockwell Automation (ROK)
Amalgamated Bank raised its stake in shares of Rockwell Automation (NYSE:ROK) by 9.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,956 shares of the industrial products company’s stock after purchasing an additional 1,484 shares during the quarter. Amalgamated Bank’s holdings in Rockwell Automation were worth $3,329,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board grew its position in shares of Rockwell Automation by 0.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 231,974 shares of the industrial products company’s stock worth $41,340,000 after buying an additional 1,219 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Rockwell Automation by 11.5% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 56,252 shares of the industrial products company’s stock worth $10,025,000 after buying an additional 5,803 shares during the period. Csenge Advisory Group acquired a new position in shares of Rockwell Automation during the 3rd quarter worth about $336,000. California Public Employees Retirement System grew its position in shares of Rockwell Automation by 8.9% during the 3rd quarter. California Public Employees Retirement System now owns 334,539 shares of the industrial products company’s stock worth $59,618,000 after buying an additional 27,239 shares during the period. Finally, Krilogy Financial LLC acquired a new position in shares of Rockwell Automation during the 3rd quarter worth about $285,000. Institutional investors own 72.36% of the company’s stock.
Several equities analysts have recently issued reports on the company. Barclays assumed coverage on Rockwell Automation in a research report on Thursday, February 15th. They set an “equal weight” rating and a $200.00 target price for the company. Zacks Investment Research upgraded Rockwell Automation from a “hold” rating to a “buy” rating and set a $224.00 target price for the company in a research report on Monday, January 29th. JPMorgan Chase & Co. boosted their target price on Rockwell Automation from $182.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Morgan Stanley boosted their target price on Rockwell Automation from $194.00 to $206.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Co boosted their target price on Rockwell Automation from $190.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $190.00.
Rockwell Automation (NYSE:ROK) last issued its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.22. Rockwell Automation had a return on equity of 39.45% and a net margin of 5.85%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the firm earned $1.75 EPS. Rockwell Automation’s quarterly revenue was up 6.5% compared to the same quarter last year. research analysts anticipate that Rockwell Automation will post 7.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Tuesday, February 20th will be paid a $0.835 dividend. This represents a $3.34 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, February 16th. Rockwell Automation’s payout ratio is 50.61%.
Rockwell Automation announced that its board has approved a stock buyback plan on Wednesday, January 24th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other Rockwell Automation news, SVP Frank C. Kulaszewicz sold 43,100 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $177.68, for a total value of $7,658,008.00. Following the sale, the senior vice president now owns 35,338 shares in the company, valued at approximately $6,278,855.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John P. Mcdermott sold 2,050 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $187.90, for a total value of $385,195.00. Following the completion of the sale, the insider now owns 40,353 shares in the company, valued at approximately $7,582,328.70. The disclosure for this sale can be found here. Insiders sold a total of 134,397 shares of company stock worth $25,659,359 in the last 90 days. Company insiders own 1.65% of the company’s stock.
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Rockwell Automation 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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