Riverhead Capital Management LLC Cuts Stake in Rockwell Automation, Inc. (ROK)
Riverhead Capital Management LLC lessened its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 3.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,745 shares of the industrial products company’s stock after selling 128 shares during the quarter. Riverhead Capital Management LLC’s holdings in Rockwell Automation were worth $607,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Jacobus Wealth Management Inc. acquired a new position in shares of Rockwell Automation during the first quarter valued at $104,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its stake in shares of Rockwell Automation by 1,700.0% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 720 shares of the industrial products company’s stock valued at $112,000 after acquiring an additional 680 shares during the period. Clarkston Capital Partners LLC acquired a new position in shares of Rockwell Automation during the second quarter valued at $206,000. Hunter Associates Investment Management LLC acquired a new position in shares of Rockwell Automation during the first quarter valued at $215,000. Finally, Parsons Capital Management Inc. RI acquired a new position in shares of Rockwell Automation during the first quarter valued at $218,000. 73.61% of the stock is currently owned by institutional investors and hedge funds.
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In other news, SVP Sujeet Chand sold 9,500 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $165.13, for a total value of $1,568,735.00. Following the transaction, the senior vice president now directly owns 41,273 shares of the company’s stock, valued at approximately $6,815,410.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith D. Nosbusch sold 10,000 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $165.00, for a total value of $1,650,000.00. Following the completion of the transaction, the director now directly owns 411,286 shares in the company, valued at $67,862,190. The disclosure for this sale can be found here. Insiders sold a total of 65,825 shares of company stock worth $10,917,484 over the last three months. 1.65% of the stock is owned by company insiders.
Shares of Rockwell Automation, Inc. (NYSE ROK) opened at 177.13 on Wednesday. Rockwell Automation, Inc. has a one year low of $113.50 and a one year high of $177.34. The company has a market capitalization of $22.74 billion, a P/E ratio of 28.56 and a beta of 1.16. The firm has a 50 day moving average price of $164.79 and a 200 day moving average price of $160.06.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.12. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Rockwell Automation had a return on equity of 40.71% and a net margin of 13.04%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.55 EPS. On average, equities research analysts predict that Rockwell Automation, Inc. will post $6.75 EPS for the current fiscal year.
ROK has been the topic of several research reports. BidaskClub raised Rockwell Automation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research lowered Rockwell Automation from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Cowen and Company increased their target price on Rockwell Automation from $125.00 to $140.00 and gave the company a “market perform” rating in a research note on Thursday, July 6th. Wolfe Research initiated coverage on Rockwell Automation in a research note on Tuesday, July 11th. They issued a “peer perform” rating on the stock. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $167.00 target price on shares of Rockwell Automation in a research note on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $152.27.
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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