Rockwell Automation (ROK) Position Lifted by Bank of Montreal Can

Bank of Montreal Can increased its position in Rockwell Automation (NYSE:ROK) by 29.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 226,269 shares of the industrial products company’s stock after buying an additional 51,062 shares during the period. Bank of Montreal Can owned about 0.18% of Rockwell Automation worth $42,429,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ROK. Baird Financial Group Inc. lifted its stake in Rockwell Automation by 27.9% in the 2nd quarter. Baird Financial Group Inc. now owns 258,416 shares of the industrial products company’s stock worth $42,956,000 after purchasing an additional 56,414 shares in the last quarter. Chartwell Investment Partners LLC lifted its stake in Rockwell Automation by 64.8% in the 2nd quarter. Chartwell Investment Partners LLC now owns 13,699 shares of the industrial products company’s stock worth $2,277,000 after purchasing an additional 5,385 shares in the last quarter. BB&T Securities LLC lifted its stake in Rockwell Automation by 28.1% in the 2nd quarter. BB&T Securities LLC now owns 4,952 shares of the industrial products company’s stock worth $823,000 after purchasing an additional 1,087 shares in the last quarter. 180 Wealth Advisors LLC purchased a new stake in Rockwell Automation in the 2nd quarter worth $673,000. Finally, Centaurus Financial Inc. purchased a new stake in Rockwell Automation in the 2nd quarter worth $103,000. 76.68% of the stock is owned by institutional investors.

ROK has been the topic of several research analyst reports. Morgan Stanley initiated coverage on shares of Rockwell Automation in a research note on Tuesday, August 21st. They issued an “underweight” rating and a $163.00 price target on the stock. UBS Group decreased their price target on shares of Rockwell Automation from $210.00 to $205.00 and set a “buy” rating on the stock in a research note on Thursday, August 30th. ValuEngine upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating in a research note on Friday, September 21st. Wells Fargo & Co boosted their price target on shares of Rockwell Automation from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 2nd. Finally, Zacks Investment Research upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research note on Wednesday, July 18th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $183.00.

In related news, VP Susan Schmitt sold 4,500 shares of the company’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $175.02, for a total transaction of $787,590.00. Following the transaction, the vice president now directly owns 15,967 shares in the company, valued at approximately $2,794,544.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Steven W. Etzel sold 1,400 shares of the company’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 owns 8,668 shares in the company, valued at $1,626,810.24. 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 quarter. 1.28% of the stock is currently owned by insiders.

Shares of NYSE ROK opened at $171.52 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.60 and a current ratio of 1.93. The stock has a market cap of $23.10 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 2.01 and a beta of 1.21. Rockwell Automation has a 12-month low of $155.81 and a 12-month high of $210.72.

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

Rockwell Automation declared that its Board of Directors has approved a stock repurchase plan 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 plans are generally a sign that the company’s management believes its stock is 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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