Pinnacle Associates Ltd. Raises Stock Position in Rockwell Automation (NYSE:ROK)

Share on StockTwits

Pinnacle Associates Ltd. increased its stake in Rockwell Automation (NYSE:ROK) by 11.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,431 shares of the industrial products company’s stock after purchasing an additional 961 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Rockwell Automation were worth $1,545,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ROK. Dimensional Fund Advisors LP raised its position in Rockwell Automation by 18.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 544,681 shares of the industrial products company’s stock worth $81,963,000 after acquiring an additional 86,007 shares during the period. Geode Capital Management LLC raised its position in Rockwell Automation by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 1,702,053 shares of the industrial products company’s stock worth $255,708,000 after acquiring an additional 90,580 shares during the period. Brinker Capital Inc. raised its position in Rockwell Automation by 13.7% in the first quarter. Brinker Capital Inc. now owns 10,258 shares of the industrial products company’s stock worth $1,800,000 after acquiring an additional 1,235 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in Rockwell Automation in the first quarter worth approximately $1,238,000. Finally, Investec Asset Management LTD raised its position in Rockwell Automation by 2.1% in the first quarter. Investec Asset Management LTD now owns 184,750 shares of the industrial products company’s stock worth $32,416,000 after acquiring an additional 3,804 shares during the period. Institutional investors own 76.78% of the company’s stock.

In related news, VP John M. Miller sold 3,250 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $163.67, for a total transaction of $531,927.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Blake D. Moret sold 297 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $161.53, for a total transaction of $47,974.41. The disclosure for this sale can be found here. Insiders have sold 3,810 shares of company stock valued at $621,819 over the last ninety days. 1.43% of the stock is currently owned by corporate insiders.

Several research firms have weighed in on ROK. Barclays decreased their price target on shares of Rockwell Automation from $164.00 to $162.00 and set an “equal weight” rating on the stock in a research report on Monday, July 1st. Deutsche Bank increased their price target on shares of Rockwell Automation from $173.00 to $186.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Morgan Stanley decreased their price objective on shares of Rockwell Automation from $159.00 to $144.00 and set an “underweight” rating on the stock in a research report on Friday, June 14th. Gabelli upgraded 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. Finally, Zacks Investment Research upgraded shares of Rockwell Automation from a “sell” rating to a “hold” rating and set a $168.00 price objective on the stock in a research report on Thursday, July 18th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Rockwell Automation has an average rating of “Hold” and an average price target of $173.33.

Shares of ROK stock opened at $150.64 on Friday. The company has a market capitalization of $17.63 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 2.22 and a beta of 1.40. Rockwell Automation has a one year low of $141.46 and a one year high of $198.23. The company’s fifty day moving average price is $157.16 and its 200-day moving average price is $167.75. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.51 and a quick ratio of 1.17.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Thursday, July 25th. The industrial products company reported $2.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $0.11. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Rockwell Automation had a net margin of 15.44% and a return on equity of 78.71%. Rockwell Automation’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the company posted $2.16 earnings per share. Equities research analysts expect that Rockwell Automation will post 8.66 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 12th will be paid a dividend of $0.97 per share. The ex-dividend date is Friday, August 9th. This represents a $3.88 annualized dividend and a yield of 2.58%. Rockwell Automation’s payout ratio is 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.

Featured Article: What is a Real Estate Investment Trust (REIT)?

Want to see what other hedge funds are holding ROK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rockwell Automation (NYSE:ROK).

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

Receive News & Ratings for Rockwell Automation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rockwell Automation and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Family Management Corp Acquires 431 Shares of Mcdonald’s Corp
Family Management Corp Acquires 431 Shares of Mcdonald’s Corp
Family Management Corp Increases Stock Holdings in Nuveen Arizona Premium Income Mun Fd
Family Management Corp Increases Stock Holdings in Nuveen Arizona Premium Income Mun Fd
Family Management Corp Has $383,000 Stock Holdings in Invesco Variable Rate Preferred ETF
Family Management Corp Has $383,000 Stock Holdings in Invesco Variable Rate Preferred ETF
Family Management Corp Sells 850 Shares of Bristol-Myers Squibb Co
Family Management Corp Sells 850 Shares of Bristol-Myers Squibb Co
CPV Partners LLC Buys New Holdings in Laureate Education Inc
CPV Partners LLC Buys New Holdings in Laureate Education Inc
Family Management Corp Increases Stake in Blackrock Muniholdings New York Qulty Fd
Family Management Corp Increases Stake in Blackrock Muniholdings New York Qulty Fd


© 2006-2019 Ticker Report