Ballentine Partners LLC Takes Position in Rockwell Automation, Inc. (ROK)
Ballentine Partners LLC acquired a new stake in Rockwell Automation, Inc. (NYSE:ROK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,500 shares of the industrial products company’s stock, valued at approximately $244,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its position in Rockwell Automation by 3,186.3% in the first quarter. BlackRock Inc. now owns 9,018,663 shares of the industrial products company’s stock valued at $1,404,295,000 after buying an additional 8,744,232 shares during the last quarter. JPMorgan Chase & Co. raised its position in Rockwell Automation by 231.2% in the first quarter. JPMorgan Chase & Co. now owns 1,377,769 shares of the industrial products company’s stock valued at $214,532,000 after buying an additional 961,760 shares during the last quarter. Schroder Investment Management Group raised its position in Rockwell Automation by 431.1% in the first quarter. Schroder Investment Management Group now owns 701,541 shares of the industrial products company’s stock valued at $109,004,000 after buying an additional 569,441 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Rockwell Automation by 89.5% in the first quarter. TIAA CREF Investment Management LLC now owns 963,764 shares of the industrial products company’s stock valued at $150,068,000 after buying an additional 455,217 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd purchased a new position in Rockwell Automation during the first quarter valued at approximately $50,715,000. 73.38% of the stock is owned by institutional investors.
Shares of Rockwell Automation, Inc. (NYSE:ROK) opened at 161.38 on Monday. The company has a market capitalization of $20.71 billion, a P/E ratio of 26.02 and a beta of 1.17. The company has a 50 day moving average price of $164.38 and a 200 day moving average price of $157.79. Rockwell Automation, Inc. has a 12-month low of $111.52 and a 12-month high of $167.97.
Rockwell Automation (NYSE:ROK) last announced its earnings results on Wednesday, July 26th. The industrial products company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the business posted $1.55 EPS. Rockwell Automation’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts anticipate that Rockwell Automation, Inc. will post $6.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 14th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, August 10th. Rockwell Automation’s dividend payout ratio (DPR) is 49.03%.
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ROK has been the subject of several recent analyst reports. Cowen and Company lifted their price objective on shares of Rockwell Automation from $125.00 to $140.00 and gave the stock a “market perform” rating in a research note on Thursday, July 6th. Morgan Stanley lifted their price objective on shares of Rockwell Automation from $153.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Friday, April 28th. Barclays PLC set a $176.00 price objective on shares of Rockwell Automation and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Stifel Nicolaus reaffirmed a “hold” rating and set a $167.00 price objective on shares of Rockwell Automation in a research note on Wednesday, July 19th. Finally, Zacks Investment Research raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research note on Tuesday, July 11th. 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 stock. The stock currently has an average rating of “Hold” and a consensus target price of $152.33.
In related news, SVP Frank C. Kulaszewicz sold 8,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $165.74, for a total transaction of $1,325,920.00. Following the completion of the transaction, the senior vice president now directly owns 33,195 shares in the company, valued at approximately $5,501,739.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Frank C. Kulaszewicz sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $158.71, for a total value of $634,840.00. Following the transaction, the senior vice president now owns 29,195 shares of the company’s stock, valued at $4,633,538.45. The disclosure for this sale can be found here. Insiders have sold a total of 86,925 shares of company stock valued at $14,201,393 over the last 90 days. 1.65% of the stock is currently owned by company insiders.
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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