Rockwell Automation, Inc. (NYSE:ROK) Stake Increased by Retirement Systems of Alabama
Retirement Systems of Alabama raised its stake in Rockwell Automation, Inc. (NYSE:ROK) by 0.5% during the second quarter, Holdings Channel reports. The firm owned 62,466 shares of the industrial products company’s stock after buying an additional 303 shares during the period. Retirement Systems of Alabama’s holdings in Rockwell Automation were worth $10,117,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new position in Rockwell Automation during the first quarter valued at $243,000. Huntington National Bank increased its position in Rockwell Automation by 107.8% in the first quarter. Huntington National Bank now owns 106,484 shares of the industrial products company’s stock valued at $16,581,000 after buying an additional 55,238 shares during the period. Oakbrook Investments LLC increased its position in Rockwell Automation by 263.0% in the first quarter. Oakbrook Investments LLC now owns 8,350 shares of the industrial products company’s stock valued at $1,300,000 after buying an additional 6,050 shares during the period. Sabal Trust CO acquired a new position in Rockwell Automation during the first quarter valued at $710,000. Finally, Columbus Circle Investors acquired a new position in Rockwell Automation during the first quarter valued at $50,905,000. Hedge funds and other institutional investors own 73.38% of the company’s stock.
Shares of Rockwell Automation, Inc. (ROK) opened at 161.66 on Friday. The firm’s 50-day moving average price is $164.02 and its 200 day moving average price is $157.31. The firm has a market capitalization of $20.75 billion, a price-to-earnings ratio of 26.07 and a beta of 1.17. Rockwell Automation, Inc. has a 52 week low of $111.52 and a 52 week high of $167.97.
Rockwell Automation (NYSE:ROK) last posted its earnings results on Wednesday, July 26th. The industrial products company reported $1.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.12. Rockwell Automation had a return on equity of 40.71% and a net margin of 13.04%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the company earned $1.55 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. On average, analysts anticipate that Rockwell Automation, Inc. will post $6.75 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 14th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $3.04 annualized dividend and a yield of 1.88%. Rockwell Automation’s dividend payout ratio (DPR) is currently 49.03%.
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Several research firms recently weighed in on ROK. Stifel Nicolaus reiterated a “hold” rating and set a $167.00 target price on shares of Rockwell Automation in a research report on Wednesday, July 19th. HSBC Holdings plc reiterated a “hold” rating and set a $147.00 target price (up from $134.00) on shares of Rockwell Automation in a research report on Saturday, July 22nd. Zacks Investment Research upgraded Rockwell Automation from a “hold” rating to a “buy” rating and set a $182.00 target price on the stock in a research report on Friday, July 28th. Wolfe Research began coverage on Rockwell Automation in a research report on Tuesday, July 11th. They set a “peer perform” rating on the stock. Finally, BidaskClub downgraded Rockwell Automation from a “hold” rating to a “sell” rating in a research report on Sunday, July 30th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $152.33.
In other Rockwell Automation news, Director William T. Jr/Wi Mccormick sold 432 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $158.07, for a total transaction of $68,286.24. Following the transaction, the director now directly owns 9,109 shares in the company, valued at $1,439,859.63. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Frank C. Kulaszewicz sold 8,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 33,195 shares in the company, valued at $5,501,739.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,257 shares of company stock worth $18,686,369. Corporate insiders own 1.65% of the company’s stock.
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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