ARK Investment Management LLC Has $552,000 Stake in Rockwell Automation, Inc. (ROK)
ARK Investment Management LLC lifted its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 48.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 3,409 shares of the industrial products company’s stock after acquiring an additional 1,109 shares during the period. ARK Investment Management LLC’s holdings in Rockwell Automation were worth $552,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in ROK. Jacobus Wealth Management Inc. bought a new position in shares of Rockwell Automation during the 1st quarter worth about $104,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its holdings in shares of Rockwell Automation by 1,700.0% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 720 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 680 shares during the period. Acrospire Investment Management LLC lifted its holdings in shares of Rockwell Automation by 166.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 799 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 499 shares during the period. Clarkston Capital Partners LLC bought a new position in shares of Rockwell Automation during the 2nd quarter worth about $206,000. Finally, Hunter Associates Investment Management LLC bought a new position in shares of Rockwell Automation during the 1st quarter worth about $215,000. 73.61% of the stock is owned by institutional investors.
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In other news, insider Blake D. Moret sold 5,677 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $170.10, for a total value of $965,657.70. Following the completion of the transaction, the insider now owns 21,426 shares of the company’s stock, valued at $3,644,562.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Blake D. Moret sold 1,723 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $170.06, for a total transaction of $293,013.38. Following the completion of the transaction, the insider now directly owns 22,849 shares of the company’s stock, valued at approximately $3,885,700.94. The disclosure for this sale can be found here. Insiders sold 65,825 shares of company stock valued at $10,917,484 in the last three months. Company insiders own 1.65% of the company’s stock.
ROK has been the subject of a number of analyst reports. Cowen and Company raised their price objective on shares of Rockwell Automation from $125.00 to $140.00 and gave the stock a “market perform” rating in a report on Thursday, July 6th. ValuEngine raised shares of Rockwell Automation from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. Stifel Nicolaus reaffirmed a “hold” rating and set a $167.00 price objective on shares of Rockwell Automation in a report on Wednesday, July 19th. 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 report on Tuesday, July 11th. Finally, BidaskClub raised shares of Rockwell Automation from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $152.27.
Shares of Rockwell Automation, Inc. (NYSE:ROK) traded up 0.12% during trading on Friday, hitting $177.55. 492,062 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $164.79 and its 200-day moving average price is $160.06. The stock has a market cap of $22.79 billion, a PE ratio of 28.63 and a beta of 1.16. Rockwell Automation, Inc. has a 1-year low of $113.50 and a 1-year high of $177.72.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.12. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Rockwell Automation had a net margin of 13.04% and a return on equity of 40.71%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.55 earnings per share. On average, equities analysts expect that Rockwell Automation, Inc. will post $6.75 earnings per share for the current fiscal year.
Rockwell Automation Company 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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