Cadence Capital Management LLC reduced its holdings in Rockwell Automation (NYSE:ROK) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,745 shares of the industrial products company’s stock after selling 156 shares during the quarter. Cadence Capital Management LLC’s holdings in Rockwell Automation were worth $1,885,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. MERIAN GLOBAL INVESTORS UK Ltd grew its position in Rockwell Automation by 2,378.9% during the first quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 215,193 shares of the industrial products company’s stock worth $37,757,000 after buying an additional 206,512 shares in the last quarter. Associated Banc Corp grew its position in Rockwell Automation by 6.7% during the first quarter. Associated Banc Corp now owns 2,429 shares of the industrial products company’s stock worth $426,000 after buying an additional 152 shares in the last quarter. Trustcore Financial Services LLC acquired a new stake in Rockwell Automation during the first quarter worth about $107,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Rockwell Automation by 6.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,989 shares of the industrial products company’s stock worth $1,226,000 after buying an additional 405 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD grew its position in Rockwell Automation by 4.6% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 29,620 shares of the industrial products company’s stock worth $5,197,000 after buying an additional 1,296 shares in the last quarter. 76.15% of the stock is currently owned by institutional investors.
In other news, SVP Frank C. Kulaszewicz sold 9,231 shares of Rockwell Automation stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $177.70, for a total value of $1,640,348.70. Following the completion of the transaction, the senior vice president now owns 34,893 shares in the company, valued at $6,200,486.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Elik I. Fooks sold 5,100 shares of Rockwell Automation stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $177.80, for a total transaction of $906,780.00. Following the completion of the transaction, the insider now owns 15,597 shares of the company’s stock, valued at approximately $2,773,146.60. The disclosure for this sale can be found here. Insiders have sold 14,384 shares of company stock worth $2,556,521 over the last ninety days. Company insiders own 1.43% of the company’s stock.
Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.04 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.07). The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.71 billion. Rockwell Automation had a net margin of 14.43% and a return on equity of 73.82%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 earnings per share. On average, sell-side analysts predict that Rockwell Automation will post 8.96 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 13th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Friday, May 10th. Rockwell Automation’s payout ratio is 47.84%.
A number of equities research analysts recently weighed in on the company. Wells Fargo & Co decreased their target price on Rockwell Automation from $215.00 to $205.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Gabelli reissued a “hold” rating on shares of Rockwell Automation in a research report on Friday, April 26th. BMO Capital Markets decreased their target price on Rockwell Automation from $223.00 to $214.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Zacks Investment Research downgraded Rockwell Automation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. Finally, Citigroup lifted their target price on Rockwell Automation to $176.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 30th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Rockwell Automation currently has a consensus rating of “Hold” and an average price target of $174.71.
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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.
Further Reading: Strike Price
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