Oakbrook Investments LLC increased its position in Rockwell Automation (NYSE:ROK) by 9.9% during the third quarter, HoldingsChannel.com reports. The fund owned 11,819 shares of the industrial products company’s stock after purchasing an additional 1,060 shares during the quarter. Oakbrook Investments LLC’s holdings in Rockwell Automation were worth $2,216,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Advisory Services Network LLC increased its holdings in shares of Rockwell Automation by 8.8% in the 2nd quarter. Advisory Services Network LLC now owns 3,502 shares of the industrial products company’s stock worth $645,000 after acquiring an additional 284 shares during the period. Ibex Wealth Advisors increased its holdings in shares of Rockwell Automation by 1.5% in the 3rd quarter. Ibex Wealth Advisors now owns 19,835 shares of the industrial products company’s stock worth $3,729,000 after acquiring an additional 291 shares during the period. New Jersey Better Educational Savings Trust increased its holdings in shares of Rockwell Automation by 13.6% in the 3rd quarter. New Jersey Better Educational Savings Trust now owns 2,500 shares of the industrial products company’s stock worth $469,000 after acquiring an additional 300 shares during the period. Syntal Capital Partners LLC increased its holdings in shares of Rockwell Automation by 16.6% in the 2nd quarter. Syntal Capital Partners LLC now owns 2,125 shares of the industrial products company’s stock worth $353,000 after acquiring an additional 302 shares during the period. Finally, Kidder Stephen W increased its holdings in shares of Rockwell Automation by 1.0% in the 3rd quarter. Kidder Stephen W now owns 31,530 shares of the industrial products company’s stock worth $5,911,000 after acquiring an additional 310 shares during the period. 74.72% of the stock is currently owned by institutional investors and hedge funds.

ROK has been the topic of a number of analyst reports. UBS Group dropped their price objective on shares of Rockwell Automation from $210.00 to $205.00 and set a “buy” rating on the stock in a report on Thursday, August 30th. Zacks Investment Research raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $202.00 target price on the stock in a research note on Friday, August 3rd. ValuEngine raised shares of Rockwell Automation from a “hold” rating to a “buy” rating in a research note on Friday, September 21st. Gordon Haskett started coverage on shares of Rockwell Automation in a research note on Friday, October 12th. They set a “buy” rating on the stock. Finally, Morgan Stanley raised their target price on shares of Rockwell Automation from $187.00 to $192.00 and gave the company an “equal weight” rating in a research note on Friday, July 27th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $183.00.

Rockwell Automation stock opened at $163.70 on Friday. The stock has a market cap of $20.48 billion, a price-to-earnings ratio of 21.59, a P/E/G ratio of 1.59 and a beta of 1.21. 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 has a 52 week low of $155.81 and a 52 week high of $210.72.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, July 25th. The industrial products company reported $2.16 EPS 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 analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company earned $1.76 EPS. As a group, research analysts forecast that Rockwell Automation will post 8.03 earnings per share for the current year.

Rockwell Automation declared that its Board of Directors has initiated a stock buyback program on Thursday, September 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In other news, VP Steven W. Etzel sold 1,400 shares of Rockwell Automation stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $187.68, for a total value of $262,752.00. Following the transaction, the vice president now owns 8,668 shares of the company’s stock, valued at approximately $1,626,810.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Theodore D. Crandall sold 5,533 shares of Rockwell Automation stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $187.34, for a total transaction of $1,036,552.22. The disclosure for this sale can be found here. Insiders sold a total of 11,433 shares of company stock worth $2,086,894 in the last ninety days. Corporate insiders own 1.65% of the company’s stock.

Rockwell Automation Company 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.

Further Reading: Earnings Per Share

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

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