Sumitomo Life Insurance Co. cut its holdings in Rockwell Automation (NYSE:ROK) by 6.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,907 shares of the industrial products company’s stock after selling 777 shares during the period. Sumitomo Life Insurance Co.’s holdings in Rockwell Automation were worth $2,089,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Rockwell Automation by 10.2% in the 4th quarter. BlackRock Inc. now owns 9,882,329 shares of the industrial products company’s stock worth $1,487,092,000 after buying an additional 918,161 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Rockwell Automation by 15,107.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,142,955 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 5,109,136 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Rockwell Automation by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 1,702,053 shares of the industrial products company’s stock valued at $255,708,000 after purchasing an additional 90,580 shares in the last quarter. Northern Trust Corp lifted its holdings in Rockwell Automation by 1.2% in the 4th quarter. Northern Trust Corp now owns 1,452,399 shares of the industrial products company’s stock valued at $218,556,000 after purchasing an additional 17,705 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Rockwell Automation by 11.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,237,425 shares of the industrial products company’s stock valued at $186,210,000 after purchasing an additional 130,704 shares in the last quarter. Institutional investors and hedge funds own 75.39% of the company’s stock.
ROK has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Rockwell Automation from a “buy” rating to a “hold” rating in a report on Wednesday, December 19th. Credit Suisse Group restated an “underperform” rating and issued a $158.00 target price (down from $170.00) on shares of Rockwell Automation in a report on Thursday, January 3rd. Deutsche Bank restated a “hold” rating and issued a $155.00 target price on shares of Rockwell Automation in a report on Friday, January 4th. Barclays reduced their target price on shares of Rockwell Automation from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Monday, January 7th. Finally, Wolfe Research lowered shares of Rockwell Automation to a “market perform” rating in a report on Tuesday, January 8th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $171.13.
Shares of ROK stock opened at $190.07 on Wednesday. The stock has a market cap of $22.42 billion, a PE ratio of 23.44, a P/E/G ratio of 2.32 and a beta of 1.35. Rockwell Automation has a 1-year low of $141.46 and a 1-year high of $198.23. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.93 and a current ratio of 1.21.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $2.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.99 by $0.22. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. Rockwell Automation had a net margin of 12.68% and a return on equity of 66.47%. The company’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.96 EPS. Analysts forecast that Rockwell Automation will post 9.02 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $3.88 annualized dividend and a dividend yield of 2.04%. Rockwell Automation’s payout ratio is currently 47.84%.
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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