Kovack Advisors Inc. decreased its stake in Rockwell Automation (NYSE:ROK) by 8.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,928 shares of the industrial products company’s stock after selling 281 shares during the period. Kovack Advisors Inc.’s holdings in Rockwell Automation were worth $549,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Atria Investments LLC purchased a new position in Rockwell Automation during the 3rd quarter valued at about $783,000. Ibex Wealth Advisors increased its holdings in Rockwell Automation by 1.5% during the 3rd quarter. Ibex Wealth Advisors now owns 19,835 shares of the industrial products company’s stock valued at $3,729,000 after acquiring an additional 291 shares in the last quarter. Rockland Trust Co. increased its holdings in Rockwell Automation by 4.5% during the 3rd quarter. Rockland Trust Co. now owns 16,115 shares of the industrial products company’s stock valued at $3,022,000 after acquiring an additional 690 shares in the last quarter. Royal London Asset Management Ltd. purchased a new position in Rockwell Automation during the 2nd quarter valued at about $8,595,000. Finally, Schroder Investment Management Group increased its holdings in Rockwell Automation by 11.6% during the 2nd quarter. Schroder Investment Management Group now owns 1,037,143 shares of the industrial products company’s stock valued at $170,755,000 after acquiring an additional 107,457 shares in the last quarter. Hedge funds and other institutional investors own 76.68% of the company’s stock.
In related news, VP Susan Schmitt sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $175.02, for a total value of $787,590.00. Following the completion of the sale, the vice president now directly owns 15,967 shares in the company, valued at $2,794,544.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Steven W. Etzel sold 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $187.68, for a total transaction of $262,752.00. Following the completion of the sale, the vice president now owns 8,668 shares of the company’s stock, valued at $1,626,810.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,433 shares of company stock valued at $2,086,894. Insiders own 1.28% of the company’s stock.
ROK has been the subject of several recent research reports. Goldman Sachs Group downgraded shares of Rockwell Automation from a “neutral” rating to a “sell” rating and set a $156.00 target price for the company. in a report on Monday, July 16th. Zacks Investment Research upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $188.00 target price for the company in a report on Wednesday, July 18th. Morgan Stanley initiated coverage on shares of Rockwell Automation in a report on Tuesday, August 21st. They set an “underweight” rating and a $163.00 target price for the company. UBS Group dropped their target price on shares of Rockwell Automation from $210.00 to $205.00 and set a “buy” rating for the company in a report on Thursday, August 30th. Finally, ValuEngine upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating in a report on Friday, September 21st. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $185.15.
Shares of NYSE ROK opened at $176.03 on Thursday. The stock has a market cap of $23.10 billion, a PE ratio of 26.04, a PEG ratio of 2.01 and a beta of 1.21. Rockwell Automation has a 12 month low of $155.81 and a 12 month high of $210.72. The company has a quick ratio of 1.60, a current ratio of 1.93 and a debt-to-equity ratio of 0.85.
Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.12. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.70 billion. Rockwell Automation had a net margin of 5.97% and a return on equity of 48.24%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.76 earnings per share. On average, research analysts predict that Rockwell Automation will post 8.01 earnings per share for the current fiscal year.
Rockwell Automation announced that its board has initiated a share repurchase plan on Thursday, September 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
About Rockwell Automation
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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