Granite Investment Partners LLC lifted its position in shares of Rockwell Automation (NYSE:ROK) by 3.5% during the first quarter, HoldingsChannel reports. The firm owned 9,130 shares of the industrial products company’s stock after buying an additional 310 shares during the quarter. Granite Investment Partners LLC’s holdings in Rockwell Automation were worth $1,602,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its position in Rockwell Automation by 8.0% in the 1st quarter. BlackRock Inc. now owns 10,676,789 shares of the industrial products company’s stock valued at $1,873,349,000 after acquiring an additional 794,460 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position 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 acquiring an additional 5,109,136 shares in the last quarter. Alecta Pensionsforsakring Omsesidigt lifted its position in Rockwell Automation by 11.0% in the 1st quarter. Alecta Pensionsforsakring Omsesidigt now owns 3,028,265 shares of the industrial products company’s stock valued at $531,309,000 after acquiring an additional 300,000 shares in the last quarter. Geode Capital Management LLC lifted its position 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 acquiring an additional 90,580 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Rockwell Automation by 10.0% in the 1st quarter. Wells Fargo & Company MN now owns 1,506,868 shares of the industrial products company’s stock valued at $264,394,000 after acquiring an additional 136,554 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.
Several research firms recently commented on ROK. Zacks Investment Research cut shares of Rockwell Automation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. Barclays reaffirmed a “hold” rating and issued a $164.00 price objective on shares of Rockwell Automation in a research report on Thursday, June 6th. Gabelli raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Wednesday, May 29th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Rockwell Automation in a research report on Wednesday, April 10th. Finally, Morgan Stanley set a $159.00 price objective on shares of Rockwell Automation and gave the company a “sell” rating in a research report on Friday, April 26th. Six investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $173.67.
In other Rockwell Automation news, SVP Michael Laszkiewicz sold 263 shares of Rockwell Automation stock in a transaction on Monday, June 10th. The shares were sold at an average price of $159.38, for a total value of $41,916.94. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.43% of the stock is currently owned by insiders.
ROK stock traded down $1.44 during midday trading on Wednesday, hitting $157.64. The company’s stock had a trading volume of 230,848 shares, compared to its average volume of 903,247. The company has a current ratio of 1.59, a quick ratio of 1.23 and a debt-to-equity ratio of 1.45. Rockwell Automation has a twelve month low of $141.46 and a twelve month high of $198.23. The firm has a market capitalization of $18.62 billion, a P/E ratio of 19.44, a PEG ratio of 2.27 and a beta of 1.43.
Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.07). Rockwell Automation had a net margin of 14.43% and a return on equity of 73.82%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. The firm’s quarterly revenue was up .4% on a year-over-year basis. As a group, equities research analysts forecast that Rockwell Automation will post 8.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 12th will be paid a $0.97 dividend. The ex-dividend date is Friday, August 9th. This represents a $3.88 annualized dividend and a yield of 2.46%. Rockwell Automation’s payout ratio is currently 47.84%.
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Rockwell Automation 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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