Rockwell Automation Inc. (ROK) Shares Sold by Fisher Asset Management LLC
Fisher Asset Management LLC decreased its stake in Rockwell Automation Inc. (NYSE:ROK) by 14.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 96,807 shares of the company’s stock after selling 16,459 shares during the period. Fisher Asset Management LLC owned approximately 0.07% of Rockwell Automation worth $11,843,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. Tredje AP fonden raised its position in shares of Rockwell Automation by 262.5% in the second quarter. Tredje AP fonden now owns 870 shares of the company’s stock worth $100,000 after buying an additional 630 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of Rockwell Automation by 0.5% in the second quarter. Checchi Capital Advisers LLC now owns 938 shares of the company’s stock worth $108,000 after buying an additional 5 shares during the last quarter. Johnson Financial Group Inc. raised its position in shares of Rockwell Automation by 1,818.4% in the second quarter. Johnson Financial Group Inc. now owns 940 shares of the company’s stock worth $108,000 after buying an additional 891 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Rockwell Automation by 30.5% in the second quarter. Van ECK Associates Corp now owns 1,465 shares of the company’s stock worth $168,000 after buying an additional 342 shares during the last quarter. Finally, Telemus Capital LLC bought a new position in shares of Rockwell Automation during the second quarter worth about $201,000. 72.95% of the stock is currently owned by hedge funds and other institutional investors.
Rockwell Automation Inc. (NYSE:ROK) traded up 0.80% during midday trading on Friday, reaching $132.92. 374,597 shares of the company’s stock traded hands. Rockwell Automation Inc. has a 1-year low of $87.53 and a 1-year high of $133.68. The stock’s 50 day moving average price is $123.09 and its 200 day moving average price is $118.11. The firm has a market cap of $17.04 billion, a price-to-earnings ratio of 23.91 and a beta of 1.00.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Monday, November 7th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.03. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.51 billion. Rockwell Automation had a net margin of 12.41% and a return on equity of 36.34%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.57 EPS. Equities research analysts anticipate that Rockwell Automation Inc. will post $6.06 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Monday, November 14th will be issued a dividend of $0.76 per share. The ex-dividend date is Wednesday, November 9th. This is a positive change from Rockwell Automation’s previous quarterly dividend of $0.73. This represents a $3.04 annualized dividend and a dividend yield of 2.29%. Rockwell Automation’s payout ratio is 54.58%.
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A number of equities analysts have recently issued reports on ROK shares. Zacks Investment Research lowered shares of Rockwell Automation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Morgan Stanley set a $109.00 target price on shares of Rockwell Automation and gave the stock a “sell” rating in a research report on Wednesday, September 28th. HSBC started coverage on shares of Rockwell Automation in a research report on Friday, October 7th. They set a “hold” rating and a $108.00 target price on the stock. Stifel Nicolaus reiterated a “hold” rating on shares of Rockwell Automation in a research report on Friday, October 21st. Finally, Barclays PLC upgraded shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $118.00 to $141.00 in a research report on Monday, October 24th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. Rockwell Automation has a consensus rating of “Hold” and a consensus price target of $109.83.
In related news, VP David M. Dorgan sold 6,000 shares of Rockwell Automation stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $127.27, for a total transaction of $763,620.00. Following the sale, the vice president now directly owns 16,300 shares of the company’s stock, valued at approximately $2,074,501. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Douglas M. Hagerman sold 31,214 shares of Rockwell Automation stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $119.63, for a total transaction of $3,734,130.82. Following the sale, the vice president now directly owns 44,991 shares in the company, valued at $5,382,273.33. The disclosure for this sale can be found here. Corporate insiders own 1.54% 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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