Watch Point Trust Co Reduces Stake in Rockwell Automation (NYSE:ROK)

Watch Point Trust Co reduced its holdings in Rockwell Automation (NYSE:ROK) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,530 shares of the industrial products company’s stock after selling 90 shares during the quarter. Rockwell Automation comprises 2.2% of Watch Point Trust Co’s investment portfolio, making the stock its 17th largest position. Watch Point Trust Co’s holdings in Rockwell Automation were worth $4,363,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ROK. Millennium Management LLC boosted its position in Rockwell Automation by 3,104.5% during the 3rd quarter. Millennium Management LLC now owns 349,159 shares of the industrial products company’s stock valued at $57,541,000 after acquiring an additional 338,263 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Rockwell Automation by 1,707.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 157,818 shares of the industrial products company’s stock worth $31,985,000 after acquiring an additional 149,086 shares in the last quarter. Johanson Financial Advisors Inc. purchased a new position in shares of Rockwell Automation in the 4th quarter valued at approximately $716,000. Kornitzer Capital Management Inc. KS lifted its stake in shares of Rockwell Automation by 3,006.0% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 133,652 shares of the industrial products company’s stock valued at $22,026,000 after purchasing an additional 129,349 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of Rockwell Automation by 102.7% during the third quarter. Fisher Asset Management LLC now owns 197,563 shares of the industrial products company’s stock valued at $32,558,000 after purchasing an additional 100,096 shares in the last quarter. Hedge funds and other institutional investors own 73.79% of the company’s stock.

ROK stock traded down $2.58 on Friday, reaching $199.72. 629,238 shares of the company traded hands, compared to its average volume of 579,606. The firm has a fifty day simple moving average of $203.17 and a 200-day simple moving average of $176.11. The company has a market cap of $23.38 billion, a P/E ratio of 34.38, a price-to-earnings-growth ratio of 2.74 and a beta of 1.44. Rockwell Automation has a one year low of $143.91 and a one year high of $207.94. The company has a debt-to-equity ratio of 4.84, a current ratio of 1.54 and a quick ratio of 1.24.

Rockwell Automation (NYSE:ROK) last released its earnings results on Tuesday, November 12th. The industrial products company reported $2.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.09. Rockwell Automation had a return on equity of 99.27% and a net margin of 10.39%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the company posted $2.11 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, sell-side analysts forecast that Rockwell Automation will post 8.92 EPS for the current year.

ROK has been the topic of several recent research reports. Wells Fargo & Co cut Rockwell Automation from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $185.00 to $165.00 in a research note on Monday, September 30th. Rosenblatt Securities initiated coverage on Rockwell Automation in a research report on Thursday, January 16th. They set a “neutral” rating and a price objective for the company. G.Research cut shares of Rockwell Automation from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Barclays raised shares of Rockwell Automation from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 18th. Finally, HSBC lowered shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $189.92.

In related news, CEO Blake D. Moret sold 7,300 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $179.67, for a total transaction of $1,311,591.00. Following the sale, the chief executive officer now directly owns 46,995 shares of the company’s stock, valued at approximately $8,443,591.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Rebecca W. House sold 895 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $202.70, for a total transaction of $181,416.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,470 shares of company stock valued at $8,452,986. 0.77% of the stock is owned by insiders.

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

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