Merit Financial Group LLC purchased a new stake in Rockwell Automation (NYSE:ROK) in the 1st quarter, Holdings Channel reports. The firm purchased 2,031 shares of the industrial products company’s stock, valued at approximately $356,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BB&T Securities LLC increased its stake in shares of Rockwell Automation by 3.0% in the fourth quarter. BB&T Securities LLC now owns 5,619 shares of the industrial products company’s stock valued at $845,000 after buying an additional 162 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Rockwell Automation by 1.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 13,431 shares of the industrial products company’s stock valued at $2,021,000 after buying an additional 137 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Rockwell Automation by 10.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 11,406 shares of the industrial products company’s stock valued at $1,716,000 after buying an additional 1,072 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Rockwell Automation by 15,107.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,142,955 shares of the industrial products company’s stock valued at $34,000 after buying an additional 5,109,136 shares in the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of Rockwell Automation in the fourth quarter valued at $29,000. Institutional investors own 74.92% of the company’s stock.
ROK stock traded up $1.44 during midday trading on Monday, reaching $157.97. The stock had a trading volume of 4,716 shares, compared to its average volume of 847,120. The company has a quick ratio of 1.23, a current ratio of 1.59 and a debt-to-equity ratio of 1.45. The firm has a market cap of $18.53 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 2.30 and a beta of 1.43. Rockwell Automation has a twelve month low of $141.46 and a twelve month high of $198.23.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.04 EPS for the quarter, missing the Zacks’ consensus estimate of $2.11 by ($0.07). The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.71 billion. Rockwell Automation had a return on equity of 73.82% and a net margin of 14.43%. Rockwell Automation’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.89 earnings per share. Sell-side analysts predict that Rockwell Automation will post 8.9 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 12th will be given a $0.97 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $3.88 dividend on an annualized basis and a yield of 2.46%. Rockwell Automation’s payout ratio is 47.84%.
In related news, SVP Michael Laszkiewicz sold 263 shares of Rockwell Automation stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $159.38, for a total value of $41,916.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.43% of the stock is owned by company insiders.
A number of analysts have recently weighed in on ROK shares. Wells Fargo & Co restated a “buy” rating on shares of Rockwell Automation in a research note on Wednesday, April 10th. Gabelli upgraded Rockwell Automation from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Wednesday, May 29th. Barclays restated a “hold” rating and issued a $164.00 target price on shares of Rockwell Automation in a research note on Thursday, June 6th. Deutsche Bank raised their target price on Rockwell Automation from $173.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, UBS Group lowered Rockwell Automation from a “buy” rating to a “neutral” rating and raised their target price for the company from $182.00 to $190.00 in a research note on Wednesday, March 20th. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $172.67.
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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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