Rockwell Automation, Inc. (ROK) Stake Increased by Veritable L.P.
Veritable L.P. lifted its position in Rockwell Automation, Inc. (NYSE:ROK) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,326 shares of the industrial products company’s stock after acquiring an additional 27 shares during the quarter. Veritable L.P.’s holdings in Rockwell Automation were worth $539,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in ROK. Jacobus Wealth Management Inc. bought a new position in shares of Rockwell Automation during the first quarter valued at about $104,000. Acrospire Investment Management LLC boosted its holdings in Rockwell Automation by 166.3% during 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. Clarkston Capital Partners LLC purchased a new position in Rockwell Automation during the second quarter worth about $206,000. Hunter Associates Investment Management LLC purchased a new position in Rockwell Automation during the first quarter worth about $215,000. Finally, Parsons Capital Management Inc. RI purchased a new position in Rockwell Automation during the first quarter worth about $218,000. Institutional investors own 73.61% of the company’s stock.
Shares of Rockwell Automation, Inc. (NYSE:ROK) opened at 178.21 on Monday. The stock has a market cap of $22.87 billion, a price-to-earnings ratio of 28.74 and a beta of 1.19. The company has a 50-day moving average price of $164.79 and a 200 day moving average price of $160.06. Rockwell Automation, Inc. has a one year low of $114.46 and a one year high of $179.50.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.12. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Rockwell Automation had a net margin of 13.04% and a return on equity of 40.71%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.55 earnings per share. Equities research analysts expect that Rockwell Automation, Inc. will post $6.75 earnings per share for the current year.
In other Rockwell Automation news, Director Keith D. Nosbusch sold 20,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $165.50, for a total transaction of $3,310,000.00. Following the completion of the sale, the director now directly owns 411,286 shares in the company, valued at approximately $68,067,833. The transaction was disclosed in a filing with the SEC, which is available at 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 sale, the director now owns 411,286 shares of the company’s stock, valued at $67,862,190. The disclosure for this sale can be found here. Insiders sold 65,825 shares of company stock worth $10,917,484 in the last 90 days. 1.65% of the stock is currently owned by corporate insiders.
A number of equities research analysts have issued reports on ROK shares. Cowen and Company reaffirmed a “hold” rating and issued a $140.00 price objective on shares of Rockwell Automation in a research report on Sunday, September 17th. ValuEngine raised shares of Rockwell Automation from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Credit Suisse Group dropped their target price on shares of Rockwell Automation from $155.00 to $154.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 23rd. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Rockwell Automation in a research note on Friday, August 18th. Finally, Zacks Investment Research downgraded Rockwell Automation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Two 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 stock presently has a consensus rating of “Hold” and an average target price of $154.50.
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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