Reliance Trust Co. of Delaware cut its holdings in Rockwell Automation (NYSE:ROK) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,054 shares of the industrial products company’s stock after selling 59 shares during the quarter. Reliance Trust Co. of Delaware’s holdings in Rockwell Automation were worth $536,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew its position in Rockwell Automation by 10.2% in the fourth quarter. BlackRock Inc. now owns 9,882,329 shares of the industrial products company’s stock valued at $1,487,092,000 after acquiring an additional 918,161 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in 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 acquiring an additional 5,109,136 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt grew its position in Rockwell Automation by 11.0% in 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 acquiring an additional 300,000 shares during the last quarter. Geode Capital Management LLC grew its position in Rockwell Automation by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 1,702,053 shares of the industrial products company’s stock valued at $255,708,000 after acquiring an additional 90,580 shares during the last quarter. Finally, Northern Trust Corp grew its position in Rockwell Automation by 1.2% in the fourth quarter. Northern Trust Corp now owns 1,452,399 shares of the industrial products company’s stock valued at $218,556,000 after acquiring an additional 17,705 shares during the last quarter. Institutional investors and hedge funds own 75.28% of the company’s stock.
In other Rockwell Automation news, insider Elik I. Fooks sold 5,100 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $177.80, for a total value of $906,780.00. Following the transaction, the insider now directly owns 15,597 shares of the company’s stock, valued at $2,773,146.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Frank C. Kulaszewicz sold 9,231 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $177.70, for a total value of $1,640,348.70. Following the completion of the transaction, the senior vice president now directly owns 34,893 shares in the company, valued at $6,200,486.10. The disclosure for this sale can be found here. 1.43% of the stock is owned by insiders.
Rockwell Automation (NYSE:ROK) last posted 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 company 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 was up .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.89 earnings per share. Equities analysts predict that Rockwell Automation will post 9 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 13th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Friday, May 10th. Rockwell Automation’s dividend payout ratio is currently 47.84%.
ROK has been the topic of several research reports. Credit Suisse Group restated an “underperform” rating and set a $158.00 price target (down from $170.00) on shares of Rockwell Automation in a report on Thursday, January 3rd. Barclays reduced their price target on Rockwell Automation from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Monday, January 7th. BMO Capital Markets initiated coverage on Rockwell Automation in a report on Friday, January 18th. They set an “outperform” rating and a $185.00 price target on the stock. Wells Fargo & Co restated a “buy” rating on shares of Rockwell Automation in a report on Friday, January 18th. Finally, Wolfe Research cut Rockwell Automation to a “market perform” rating in a report on Tuesday, January 8th. Six analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Rockwell Automation presently has a consensus rating of “Hold” and a consensus price target of $174.71.
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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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