Putnam Investments LLC Trims Holdings in Rockwell Automation (ROK)

Putnam Investments LLC decreased its position in shares of Rockwell Automation (NYSE:ROK) by 38.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 451,656 shares of the industrial products company’s stock after selling 280,691 shares during the quarter. Putnam Investments LLC owned approximately 0.37% of Rockwell Automation worth $75,079,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Centaurus Financial Inc. bought a new stake in shares of Rockwell Automation during the 2nd quarter valued at $103,000. AdvisorNet Financial Inc raised its position in shares of Rockwell Automation by 262.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 670 shares of the industrial products company’s stock valued at $111,000 after acquiring an additional 485 shares during the last quarter. Fort L.P. bought a new stake in shares of Rockwell Automation during the 2nd quarter valued at $117,000. Wealthcare Advisory Partners LLC raised its position in shares of Rockwell Automation by 333.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 676 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 520 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Rockwell Automation during the 1st quarter valued at $139,000. 76.68% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have commented on ROK shares. Zacks Investment Research upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $196.00 target price for the company in a research report on Friday, June 1st. 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 research report on Thursday, August 30th. Morgan Stanley upped their target price on shares of Rockwell Automation from $187.00 to $192.00 and gave the company an “equal weight” rating in a research report on Friday, July 27th. ValuEngine cut shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Finally, Barclays reiterated a “hold” rating and set a $176.00 target price on shares of Rockwell Automation in a research report on Thursday, July 26th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $184.38.

ROK opened at $191.60 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.93 and a quick ratio of 1.60. Rockwell Automation has a 12 month low of $155.81 and a 12 month high of $210.72. The firm has a market capitalization of $22.83 billion, a P/E ratio of 24.07, a PEG ratio of 1.99 and a beta of 1.24.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Wednesday, July 25th. The industrial products company reported $2.16 EPS for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.12. Rockwell Automation had a net margin of 5.97% and a return on equity of 48.24%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the prior year, the company earned $1.76 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. sell-side analysts forecast that Rockwell Automation will post 8.01 earnings per share for the current fiscal year.

Rockwell Automation declared that its Board of Directors has authorized a share buyback program on Thursday, September 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to purchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

In related news, VP Susan Schmitt sold 4,500 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 15,967 shares of the company’s stock, valued at approximately $2,794,544.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Theodore D. Crandall sold 5,533 shares of the company’s stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $187.34, for a total transaction of $1,036,552.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,433 shares of company stock valued at $2,086,894. 1.65% of the stock is owned by corporate insiders.

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

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