State Treasurer State of Michigan Lowers Stake in Rockwell Automation (ROK)

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State Treasurer State of Michigan decreased its stake in shares of Rockwell Automation (NYSE:ROK) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,190 shares of the industrial products company’s stock after selling 400 shares during the period. State Treasurer State of Michigan’s holdings in Rockwell Automation were worth $6,182,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Advisory Services Network LLC grew its position in Rockwell Automation by 8.8% in the second quarter. Advisory Services Network LLC now owns 3,502 shares of the industrial products company’s stock valued at $645,000 after purchasing an additional 284 shares in the last quarter. Associated Banc Corp grew its position in Rockwell Automation by 14.1% in the second quarter. Associated Banc Corp now owns 2,569 shares of the industrial products company’s stock valued at $427,000 after purchasing an additional 318 shares in the last quarter. Front Row Advisors LLC grew its position in Rockwell Automation by 4.3% in the first quarter. Front Row Advisors LLC now owns 8,843 shares of the industrial products company’s stock valued at $1,540,000 after purchasing an additional 363 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Rockwell Automation by 1.5% in the first quarter. Commonwealth Equity Services LLC now owns 24,432 shares of the industrial products company’s stock valued at $4,256,000 after purchasing an additional 368 shares in the last quarter. Finally, Azimuth Capital Management LLC grew its position in Rockwell Automation by 1.2% in the first quarter. Azimuth Capital Management LLC now owns 31,162 shares of the industrial products company’s stock valued at $5,428,000 after purchasing an additional 374 shares in the last quarter. 74.66% of the stock is owned by institutional investors.

Shares of ROK opened at $173.63 on Friday. Rockwell Automation has a one year low of $155.81 and a one year high of $210.72. The stock has a market capitalization of $21.34 billion, a PE ratio of 25.68, a PEG ratio of 1.86 and a beta of 1.23. 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 (NYSE:ROK) last announced its quarterly earnings data on Wednesday, July 25th. The industrial products company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.12. Rockwell Automation had a net margin of 5.97% and a return on equity of 48.24%. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the firm posted $1.76 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. research analysts forecast that Rockwell Automation will post 8.02 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Monday, August 13th will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, August 10th. Rockwell Automation’s dividend payout ratio (DPR) is presently 54.44%.

A number of research analysts recently weighed in on ROK shares. Zacks Investment Research raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $188.00 target price for the company in a research report on Wednesday, July 18th. Barclays decreased their target price on shares of Rockwell Automation from $190.00 to $173.00 and set an “equal weight” rating for the company in a research report on Thursday, April 26th. ValuEngine downgraded shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Goldman Sachs Group downgraded shares of Rockwell Automation from a “neutral” rating to a “sell” rating and set a $156.00 target price for the company. in a research report on Monday, July 16th. Finally, UBS Group decreased their target price on shares of Rockwell Automation from $230.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, April 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $187.00.

In other news, insider Theodore D. Crandall sold 5,533 shares of Rockwell Automation stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $187.34, for a total value of $1,036,552.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Steven W. Etzel sold 1,400 shares of Rockwell Automation stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $187.68, for a total transaction of $262,752.00. Following the completion of the transaction, the vice president now directly owns 8,668 shares of the company’s stock, valued at approximately $1,626,810.24. The disclosure for this sale can be found here. Company insiders own 1.28% of the company’s stock.

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.

Further Reading: Market Capitalization – What it Means for Investors

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

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