Artemis Investment Management LLP Has $27.86 Million Stake in Rockwell Automation, Inc. (ROK)
Artemis Investment Management LLP raised its stake in Rockwell Automation, Inc. (NYSE:ROK) by 133.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 156,372 shares of the industrial products company’s stock after purchasing an additional 89,395 shares during the quarter. Artemis Investment Management LLP owned 0.12% of Rockwell Automation worth $27,861,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of ROK. Acrospire Investment Management LLC raised its stake in shares of Rockwell Automation by 166.3% in the second quarter. Acrospire Investment Management LLC now owns 799 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 499 shares during the last quarter. Rockefeller Financial Services Inc. purchased a new stake in shares of Rockwell Automation in the third quarter worth approximately $143,000. Sun Life Financial INC raised its stake in shares of Rockwell Automation by 8,490.9% in the second quarter. Sun Life Financial INC now owns 945 shares of the industrial products company’s stock worth $153,000 after purchasing an additional 934 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Rockwell Automation in the third quarter worth approximately $186,000. Finally, Northstar Wealth Partners LLC purchased a new stake in shares of Rockwell Automation in the third quarter worth approximately $202,000. 73.61% of the stock is owned by hedge funds and other institutional investors.
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In related news, SVP Frank C. Kulaszewicz sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $165.74, for a total value of $1,325,920.00. Following the completion of the transaction, the senior vice president now directly owns 33,195 shares in the company, valued at approximately $5,501,739.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Elik I. Fooks sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $165.36, for a total transaction of $496,080.00. Following the completion of the transaction, the insider now owns 10,799 shares of the company’s stock, valued at $1,785,722.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,900 shares of company stock valued at $5,144,556. 1.65% of the stock is owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Monday, November 13th will be issued a $0.835 dividend. This is a positive change from Rockwell Automation’s previous quarterly dividend of $0.76. This represents a $3.34 dividend on an annualized basis and a yield of 1.66%. Rockwell Automation’s payout ratio is presently 49.03%.
Several brokerages have recently commented on ROK. HSBC Holdings plc downgraded Rockwell Automation from a “hold” rating to a “reduce” rating in a research note on Thursday. Zacks Investment Research raised Rockwell Automation from a “hold” rating to a “buy” rating and set a $209.00 price objective for the company in a research note on Tuesday, October 17th. Stifel Nicolaus reissued a “hold” rating and issued a $183.00 price objective on shares of Rockwell Automation in a research note on Thursday, October 12th. Credit Suisse Group reissued a “neutral” rating and issued a $174.00 price objective (up from $154.00) on shares of Rockwell Automation in a research note on Wednesday, October 11th. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $187.00 price objective (up from $175.00) on shares of Rockwell Automation in a research note on Monday, October 9th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $164.07.
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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