Westside Investment Management Inc. Lowers Stake in Rockwell Automation (ROK)

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Westside Investment Management Inc. reduced its position in Rockwell Automation (NYSE:ROK) by 8.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,500 shares of the industrial products company’s stock after selling 138 shares during the period. Westside Investment Management Inc.’s holdings in Rockwell Automation were worth $226,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROK. Atria Investments LLC purchased a new position in Rockwell Automation in the third quarter worth approximately $783,000. Bank of Montreal Can lifted its position in shares of Rockwell Automation by 29.1% during the 3rd quarter. Bank of Montreal Can now owns 226,269 shares of the industrial products company’s stock worth $42,429,000 after buying an additional 51,062 shares during the last quarter. New Jersey Better Educational Savings Trust lifted its position in shares of Rockwell Automation by 13.6% during the 3rd quarter. New Jersey Better Educational Savings Trust now owns 2,500 shares of the industrial products company’s stock worth $469,000 after buying an additional 300 shares during the last quarter. Supplemental Annuity Collective Trust of NJ lifted its position in shares of Rockwell Automation by 20.0% during the 3rd quarter. Supplemental Annuity Collective Trust of NJ now owns 6,000 shares of the industrial products company’s stock worth $1,125,000 after buying an additional 1,000 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of Rockwell Automation by 2.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 350,000 shares of the industrial products company’s stock worth $65,632,000 after buying an additional 10,000 shares during the last quarter. 80.07% of the stock is owned by institutional investors.

ROK has been the subject of several recent analyst reports. Cowen downgraded shares of Rockwell Automation from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $175.00 to $150.00 in a research report on Monday, October 15th. Zacks Investment Research upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $183.00 price objective for the company in a research report on Tuesday, October 23rd. Wells Fargo & Co reduced their price objective on shares of Rockwell Automation from $210.00 to $205.00 and set an “outperform” rating for the company in a research report on Thursday, November 8th. Credit Suisse Group boosted their price objective on shares of Rockwell Automation from $171.00 to $173.00 and gave the stock an “underperform” rating in a research report on Thursday, November 8th. Finally, Citigroup set a $185.00 price objective on shares of Rockwell Automation and gave the stock a “hold” rating in a research report on Thursday, November 8th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Rockwell Automation currently has a consensus rating of “Hold” and a consensus target price of $172.06.

In other news, CFO Patrick P. Goris sold 177 shares of Rockwell Automation stock in a transaction on Friday, December 7th. The shares were sold at an average price of $167.71, for a total value of $29,684.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Keith D. Nosbusch sold 8,024 shares of Rockwell Automation stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $176.24, for a total transaction of $1,414,149.76. Following the completion of the transaction, the director now directly owns 430,330 shares in the company, valued at $75,841,359.20. The disclosure for this sale can be found here. Insiders sold a total of 34,724 shares of company stock worth $6,100,662 over the last ninety days. Corporate insiders own 1.43% of the company’s stock.

Shares of Rockwell Automation stock traded up $1.00 during trading on Tuesday, reaching $170.70. The company’s stock had a trading volume of 8,235 shares, compared to its average volume of 1,178,988. The stock has a market capitalization of $20.26 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 2.11 and a beta of 1.36. Rockwell Automation has a fifty-two week low of $141.46 and a fifty-two week high of $198.23. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.21 and a quick ratio of 0.93.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Tuesday, January 29th. The industrial products company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.22. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Rockwell Automation had a net margin of 12.68% and a return on equity of 66.47%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.96 EPS. Analysts anticipate that Rockwell Automation will post 9.04 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Tuesday, February 19th will be issued a $0.97 dividend. The ex-dividend date is Friday, February 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 2.27%. Rockwell Automation’s payout ratio is 47.84%.

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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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