BB&T Securities LLC raised its stake in Rockwell Automation (NYSE:ROK) by 28.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,952 shares of the industrial products company’s stock after buying an additional 1,087 shares during the period. BB&T Securities LLC’s holdings in Rockwell Automation were worth $823,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of ROK. Summit Trail Advisors LLC lifted its holdings in shares of Rockwell Automation by 17,669.8% during the first quarter. Summit Trail Advisors LLC now owns 345,622 shares of the industrial products company’s stock worth $346,000 after purchasing an additional 343,677 shares during the period. Frontier Capital Management Co. LLC acquired a new position in shares of Rockwell Automation during the second quarter worth $40,950,000. UBS Group AG lifted its holdings in shares of Rockwell Automation by 4.6% during the first quarter. UBS Group AG now owns 5,120,696 shares of the industrial products company’s stock worth $892,025,000 after purchasing an additional 227,226 shares during the period. Cambiar Investors LLC acquired a new position in shares of Rockwell Automation during the second quarter worth $35,385,000. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Rockwell Automation during the first quarter worth $30,106,000. Hedge funds and other institutional investors own 76.68% of the company’s stock.
In other Rockwell Automation news, VP Susan Schmitt sold 4,500 shares of Rockwell Automation stock in a transaction on Friday, August 24th. The shares were sold at an average price of $175.02, for a total value of $787,590.00. Following the completion of the sale, the vice president now directly owns 15,967 shares of the company’s stock, valued at $2,794,544.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Theodore D. Crandall sold 5,533 shares of Rockwell Automation stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $187.34, for a total transaction of $1,036,552.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,433 shares of company stock valued at $2,086,894. Insiders own 1.28% of the company’s stock.
ROK stock traded up $2.19 during midday trading on Friday, hitting $172.79. The stock had a trading volume of 1,256,652 shares, compared to its average volume of 1,044,202. The firm has a market cap of $23.10 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 2.01 and a beta of 1.21. The company has a quick ratio of 1.60, a current ratio of 1.93 and a debt-to-equity ratio of 0.85. Rockwell Automation has a 1-year low of $155.81 and a 1-year high of $210.72.
Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, July 25th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.12. Rockwell Automation had a net margin of 5.97% and a return on equity of 48.24%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the business earned $1.76 earnings per share. Rockwell Automation’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts expect that Rockwell Automation will post 8.01 earnings per share for the current year.
Rockwell Automation announced that its board has authorized a stock repurchase plan on Thursday, September 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
ROK has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a report on Wednesday, July 18th. ValuEngine upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating in a report on Friday, September 21st. Barclays reiterated a “hold” rating and set a $176.00 price target on shares of Rockwell Automation in a report on Thursday, July 26th. Goldman Sachs Group lowered shares of Rockwell Automation from a “neutral” rating to a “sell” rating and set a $156.00 price target on the stock. in a report on Monday, July 16th. Finally, Credit Suisse Group began coverage on shares of Rockwell Automation in a report on Friday. They set an “underperform” rating and a $171.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $184.92.
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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