Watch Point Trust Co increased its stake in shares of Rockwell Automation (NYSE:ROK) by 13.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,901 shares of the industrial products company’s stock after acquiring an additional 2,610 shares during the quarter. Rockwell Automation comprises about 2.0% of Watch Point Trust Co’s portfolio, making the stock its 24th largest holding. Watch Point Trust Co’s holdings in Rockwell Automation were worth $3,588,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of ROK. BlackRock Inc. raised its stake in Rockwell Automation by 8.0% during the first quarter. BlackRock Inc. now owns 10,676,789 shares of the industrial products company’s stock valued at $1,873,349,000 after purchasing an additional 794,460 shares in the last quarter. Alecta Pensionsforsakring Omsesidigt raised its stake in Rockwell Automation by 11.0% during the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 3,028,265 shares of the industrial products company’s stock valued at $531,309,000 after purchasing an additional 300,000 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Rockwell Automation by 117.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 425,756 shares of the industrial products company’s stock valued at $69,098,000 after purchasing an additional 230,298 shares in the last quarter. Janus Henderson Group PLC raised its stake in Rockwell Automation by 504.4% during the second quarter. Janus Henderson Group PLC now owns 265,245 shares of the industrial products company’s stock valued at $43,454,000 after purchasing an additional 221,357 shares in the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd raised its stake in Rockwell Automation by 2,378.9% during the first quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 215,193 shares of the industrial products company’s stock valued at $37,757,000 after purchasing an additional 206,512 shares in the last quarter. Hedge funds and other institutional investors own 77.00% of the company’s stock.
Shares of ROK traded down $0.15 during midday trading on Thursday, hitting $146.77. The stock had a trading volume of 286,412 shares, compared to its average volume of 1,215,649. Rockwell Automation has a 1 year low of $141.46 and a 1 year high of $198.23. The stock has a market capitalization of $17.54 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 2.21 and a beta of 1.40. The company has a current ratio of 1.51, a quick ratio of 1.17 and a debt-to-equity ratio of 1.68. The company’s 50 day moving average is $159.16.
Rockwell Automation (NYSE:ROK) last announced its earnings results on Thursday, July 25th. The industrial products company reported $2.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $0.11. Rockwell Automation had a net margin of 15.44% and a return on equity of 78.71%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm posted $2.16 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, sell-side analysts predict that Rockwell Automation will post 8.64 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, August 9th. Rockwell Automation’s payout ratio is presently 47.84%.
A number of equities research analysts recently issued reports on the stock. Barclays decreased their price target on shares of Rockwell Automation from $164.00 to $162.00 and set an “equal weight” rating on the stock in a research note on Monday, July 1st. Zacks Investment Research raised shares of Rockwell Automation from a “sell” rating to a “hold” rating and set a $168.00 price target on the stock in a research note on Thursday, July 18th. Deutsche Bank increased their target price on shares of Rockwell Automation from $173.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, April 26th. BMO Capital Markets reduced their target price on shares of Rockwell Automation from $223.00 to $214.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Finally, Gabelli raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research note on Wednesday, May 29th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $173.33.
In other news, insider Blake D. Moret sold 297 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $161.53, for a total value of $47,974.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP John M. Miller sold 3,250 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $163.67, for a total transaction of $531,927.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,810 shares of company stock worth $621,819. Company insiders own 1.43% of the company’s stock.
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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