Global Retirement Partners LLC Boosts Position in Rockwell Automation (ROK)

Global Retirement Partners LLC boosted its stake in Rockwell Automation (NYSE:ROK) by 31.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,212 shares of the industrial products company’s stock after acquiring an additional 1,257 shares during the quarter. Global Retirement Partners LLC’s holdings in Rockwell Automation were worth $977,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Centaurus Financial Inc. bought a new stake in Rockwell Automation in the 2nd quarter valued at $103,000. AdvisorNet Financial Inc lifted its position in Rockwell Automation by 262.2% in 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 in the last quarter. Fort L.P. bought a new stake in Rockwell Automation in the 2nd quarter valued at $117,000. Marshall & Sullivan Inc. WA bought a new stake in Rockwell Automation in the 2nd quarter valued at $158,000. Finally, Gradient Investments LLC lifted its position in Rockwell Automation by 14,057.1% in the 2nd quarter. Gradient Investments LLC now owns 991 shares of the industrial products company’s stock valued at $165,000 after acquiring an additional 984 shares in the last quarter. 76.68% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently commented on ROK. Cowen cut shares of Rockwell Automation from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $175.00 to $150.00 in a research report on Monday. Credit Suisse Group began coverage on shares of Rockwell Automation in a research report on Friday, October 12th. They issued an “underperform” rating and a $171.00 price objective on the stock. Gordon Haskett began coverage on shares of Rockwell Automation in a research report on Friday, October 12th. They issued a “buy” rating on the stock. ValuEngine cut shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Finally, Wells Fargo & Co boosted their price objective on shares of Rockwell Automation from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, October 2nd. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $183.00.

In other news, VP Steven W. Etzel sold 1,400 shares of the business’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $187.68, for a total transaction of $262,752.00. Following the transaction, the vice president now directly owns 8,668 shares in the company, valued at approximately $1,626,810.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Susan Schmitt sold 4,500 shares of the business’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $175.02, for a total transaction of $787,590.00. Following the transaction, the vice president now owns 15,967 shares in the company, valued at $2,794,544.34. The disclosure for this sale can be found here. Insiders have sold a total of 11,433 shares of company stock worth $2,086,894 over the last three months. Insiders own 1.28% of the company’s stock.

Shares of NYSE:ROK opened at $171.52 on Thursday. The company has a current ratio of 1.93, a quick ratio of 1.60 and a debt-to-equity ratio of 0.85. Rockwell Automation has a one year low of $155.81 and a one year high of $210.72. The stock has a market cap of $23.10 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 2.01 and a beta of 1.21.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $2.16 EPS for the quarter, topping the 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 firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the firm posted $1.76 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities analysts forecast that Rockwell Automation will post 8.01 EPS for the current fiscal year.

Rockwell Automation declared that its board has authorized a stock repurchase program on Thursday, September 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 4.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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

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