Oppenheimer Asset Management Inc. trimmed its position in Rockwell Automation (NYSE:ROK) by 18.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,130 shares of the industrial products company’s stock after selling 4,254 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Rockwell Automation were worth $3,332,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. acquired a new stake in Rockwell Automation in the first quarter worth approximately $139,000. Signaturefd LLC acquired a new stake in Rockwell Automation in the first quarter worth approximately $141,000. Aries Wealth Management acquired a new stake in Rockwell Automation in the fourth quarter worth approximately $209,000. Cpwm LLC acquired a new stake in Rockwell Automation in the fourth quarter worth approximately $204,000. Finally, Pitcairn Co. acquired a new stake in Rockwell Automation in the fourth quarter worth approximately $206,000. Hedge funds and other institutional investors own 72.98% of the company’s stock.
NYSE ROK opened at $178.00 on Friday. The firm has a market capitalization of $22.47 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 1.80 and a beta of 1.28. Rockwell Automation has a 1 year low of $155.81 and a 1 year high of $210.72. The company has a current ratio of 2.10, a quick ratio of 1.79 and a debt-to-equity ratio of 0.63.
Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Wednesday, April 25th. The industrial products company reported $1.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.07. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Rockwell Automation had a return on equity of 42.38% and a net margin of 6.34%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.55 earnings per share. analysts anticipate that Rockwell Automation will post 7.88 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Monday, May 14th will be issued a $0.92 dividend. The ex-dividend date is Friday, May 11th. This represents a $3.68 annualized dividend and a dividend yield of 2.07%. This is a boost from Rockwell Automation’s previous quarterly dividend of $0.84. Rockwell Automation’s dividend payout ratio is currently 54.44%.
In other Rockwell Automation news, insider John P. Mcdermott sold 2,050 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $187.90, for a total transaction of $385,195.00. Following the sale, the insider now directly owns 40,353 shares of the company’s stock, valued at approximately $7,582,328.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Sujeet Chand sold 4,900 shares of the business’s stock in a transaction on Friday, May 18th. The shares were sold at an average price of $182.46, for a total transaction of $894,054.00. Following the sale, the senior vice president now directly owns 49,327 shares in the company, valued at $9,000,204.42. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by corporate insiders.
A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine upgraded Rockwell Automation from a “hold” rating to a “buy” rating in a research report on Monday, May 14th. TheStreet upgraded Rockwell Automation from a “c+” rating to a “b” rating in a research report on Wednesday, April 25th. Barclays cut their target price on Rockwell Automation from $190.00 to $173.00 and set an “equal weight” rating for the company in a research report on Thursday, April 26th. Finally, UBS cut their target price on Rockwell Automation from $230.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, April 26th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $186.21.
Rockwell Automation Profile
Rockwell Automation Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.
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