Rockwell Automation, Inc. (ROK) Stake Increased by BlackRock Inc.

BlackRock Inc. increased its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,698,308 shares of the industrial products company’s stock after purchasing an additional 679,645 shares during the period. BlackRock Inc. owned 7.56% of Rockwell Automation worth $1,570,735,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Nationwide Fund Advisors raised its position in shares of Rockwell Automation by 50.2% during the 2nd quarter. Nationwide Fund Advisors now owns 168,374 shares of the industrial products company’s stock valued at $27,270,000 after purchasing an additional 56,271 shares during the period. King Luther Capital Management Corp raised its position in shares of Rockwell Automation by 2.3% during the 2nd quarter. King Luther Capital Management Corp now owns 231,682 shares of the industrial products company’s stock valued at $37,523,000 after purchasing an additional 5,145 shares during the period. Norinchukin Bank The raised its position in shares of Rockwell Automation by 7.0% during the 2nd quarter. Norinchukin Bank The now owns 8,941 shares of the industrial products company’s stock valued at $1,448,000 after purchasing an additional 585 shares during the period. Ameriprise Financial Inc. raised its position in shares of Rockwell Automation by 277.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,059,003 shares of the industrial products company’s stock valued at $171,517,000 after purchasing an additional 778,633 shares during the period. Finally, Teachers Advisors LLC raised its position in shares of Rockwell Automation by 3.1% during the 2nd quarter. Teachers Advisors LLC now owns 599,780 shares of the industrial products company’s stock valued at $97,140,000 after purchasing an additional 17,942 shares during the period. Hedge funds and other institutional investors own 73.66% of the company’s stock.

Rockwell Automation, Inc. (NYSE:ROK) traded up 0.92% during mid-day trading on Friday, hitting $173.73. 1,019,639 shares of the stock were exchanged. The stock’s 50 day moving average is $164.14 and its 200 day moving average is $159.63. The stock has a market cap of $22.30 billion, a PE ratio of 28.02 and a beta of 1.16. Rockwell Automation, Inc. has a 52-week low of $113.50 and a 52-week high of $174.18.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $1.76 EPS for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.12. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Rockwell Automation had a net margin of 13.04% and a return on equity of 40.71%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.55 earnings per share. Analysts forecast that Rockwell Automation, Inc. will post $6.75 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://www.chaffeybreeze.com/2017/09/16/rockwell-automation-inc-rok-stake-increased-by-blackrock-inc.html.

In other news, insider Blake D. Moret sold 1,723 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $170.06, for a total value of $293,013.38. Following the completion of the sale, the insider now directly owns 22,849 shares in the company, valued at $3,885,700.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Keith D. Nosbusch sold 20,000 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $165.50, for a total transaction of $3,310,000.00. Following the completion of the sale, the director now owns 411,286 shares of the company’s stock, valued at $68,067,833. The disclosure for this sale can be found here. Insiders sold 65,825 shares of company stock valued at $10,917,484 over the last quarter. Company insiders own 1.65% of the company’s stock.

A number of analysts have issued reports on the stock. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Rockwell Automation in a report on Friday, August 18th. Zacks Investment Research upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $182.00 price target on the stock in a report on Friday, July 28th. J P Morgan Chase & Co upgraded shares of Rockwell Automation from an “underweight” rating to a “neutral” rating and set a $153.00 price target on the stock in a report on Thursday, July 27th. Wolfe Research assumed coverage on shares of Rockwell Automation in a report on Tuesday, July 11th. They issued a “peer perform” rating on the stock. Finally, BidaskClub downgraded shares of Rockwell Automation from a “hold” rating to a “sell” rating in a report on Sunday, July 30th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $152.27.

Rockwell Automation Profile

Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.

Want to see what other hedge funds are holding ROK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rockwell Automation, Inc. (NYSE:ROK).

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

Receive News & Ratings for Rockwell Automation Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rockwell Automation Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply