Rockwell Automation, Inc. (ROK) Shares Bought by Amalgamated Bank
Amalgamated Bank boosted its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 57.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,172 shares of the industrial products company’s stock after buying an additional 5,512 shares during the quarter. Amalgamated Bank’s holdings in Rockwell Automation were worth $2,457,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Jacobus Wealth Management Inc. acquired a new stake in Rockwell Automation in the first quarter valued at about $104,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in Rockwell Automation by 1,700.0% in 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 buying an additional 680 shares in the last quarter. Clarkston Capital Partners LLC acquired a new stake in Rockwell Automation in the second quarter valued at about $206,000. Appleton Group LLC acquired a new stake in Rockwell Automation in the first quarter valued at about $213,000. Finally, Hunter Associates Investment Management LLC acquired a new stake in Rockwell Automation in the first quarter valued at about $215,000. 73.66% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Rockwell Automation, Inc. (ROK) opened at 173.73 on Friday. Rockwell Automation, Inc. has a 12-month low of $113.50 and a 12-month high of $174.18. The stock’s 50 day moving average price is $164.14 and its 200 day moving average price is $159.63. The company has a market cap of $22.30 billion, a P/E ratio of 28.02 and a beta of 1.16.
Rockwell Automation (NYSE:ROK) last announced its earnings results on Wednesday, July 26th. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the company earned $1.55 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. On average, analysts forecast that Rockwell Automation, Inc. will post $6.75 EPS for the current year.
ROK has been the topic of a number of recent research reports. Cowen and Company lifted their price target 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. Stifel Nicolaus reissued a “hold” rating and set a $167.00 price target on shares of Rockwell Automation in a research note on Wednesday, July 19th. Zacks Investment Research raised Rockwell Automation from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research note on Tuesday, July 11th. BidaskClub raised Rockwell Automation from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Finally, HSBC Holdings plc reissued a “hold” rating and set a $147.00 price target (up from $134.00) on shares of Rockwell Automation in a research note on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. Rockwell Automation has an average rating of “Hold” and an average target price of $152.27.
In related news, insider Blake D. Moret sold 5,677 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $170.10, for a total transaction of $965,657.70. Following the completion of the transaction, the insider now owns 21,426 shares of the company’s stock, valued at approximately $3,644,562.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Blake D. Moret sold 3,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $164.88, for a total value of $511,128.00. The disclosure for this sale can be found here. Insiders sold a total of 65,825 shares of company stock valued at $10,917,484 in the last three months. 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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