AMP Capital Investors Ltd Cuts Stake in Rockwell Automation (ROK)

AMP Capital Investors Ltd lessened its holdings in Rockwell Automation (NYSE:ROK) by 24.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,396 shares of the industrial products company’s stock after selling 11,389 shares during the period. AMP Capital Investors Ltd’s holdings in Rockwell Automation were worth $5,884,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ROK. Summit Trail Advisors LLC raised its stake in shares of Rockwell Automation by 17,669.8% in the 1st quarter. Summit Trail Advisors LLC now owns 345,622 shares of the industrial products company’s stock valued at $346,000 after acquiring an additional 343,677 shares during the period. Frontier Capital Management Co. LLC purchased a new position in shares of Rockwell Automation in the 2nd quarter valued at $40,950,000. UBS Group AG raised its stake in shares of Rockwell Automation by 4.6% in the 1st quarter. UBS Group AG now owns 5,120,696 shares of the industrial products company’s stock valued at $892,025,000 after acquiring an additional 227,226 shares during the period. Cambiar Investors LLC purchased a new position in shares of Rockwell Automation in the 2nd quarter valued at $35,385,000. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Rockwell Automation in the 1st quarter valued at $30,106,000. 76.68% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently commented on ROK. UBS Group cut their target price on shares of Rockwell Automation from $210.00 to $205.00 and set a “buy” rating on the stock in a research note on Thursday, August 30th. Morgan Stanley began coverage on shares of Rockwell Automation in a research note on Tuesday, August 21st. They issued an “underweight” rating and a $163.00 target price on the stock. Zacks Investment Research downgraded shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. Barclays reissued a “hold” rating and issued a $176.00 target price on shares of Rockwell Automation in a research note on Thursday, July 26th. Finally, Goldman Sachs Group downgraded shares of Rockwell Automation from a “neutral” rating to a “sell” rating and set a $156.00 price target on the stock. in a research note on Monday, July 16th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $184.38.

Rockwell Automation stock opened at $191.60 on Friday. Rockwell Automation has a 12-month low of $155.81 and a 12-month high of $210.72. The firm has a market cap of $22.83 billion, a P/E ratio of 28.34, a PEG ratio of 1.99 and a beta of 1.24. The company has a current ratio of 1.93, a quick ratio of 1.60 and a debt-to-equity ratio of 0.85.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.12. Rockwell Automation had a net margin of 5.97% and a return on equity of 48.24%. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the firm posted $1.76 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. equities analysts expect that Rockwell Automation will post 8.01 EPS for the current fiscal year.

Rockwell Automation declared that its Board of Directors has authorized a stock buyback program on Thursday, September 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In other Rockwell Automation news, insider Theodore D. Crandall sold 5,533 shares of the firm’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $187.34, for a total transaction of $1,036,552.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Steven W. Etzel sold 1,400 shares of the firm’s stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $187.68, for a total transaction of $262,752.00. Following the transaction, the vice president now directly owns 8,668 shares of the company’s stock, valued at $1,626,810.24. The disclosure for this sale can be found here. Insiders have sold a total of 11,433 shares of company stock worth $2,086,894 in the last ninety days. 1.65% of the stock is currently owned by insiders.

Rockwell Automation Company 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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Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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