Cabot Wealth Management Inc. raised its holdings in shares of Rockwell Automation (NYSE:ROK) by 2.3% in the second quarter, HoldingsChannel reports. The firm owned 39,870 shares of the industrial products company’s stock after buying an additional 911 shares during the period. Rockwell Automation comprises 1.5% of Cabot Wealth Management Inc.’s holdings, making the stock its 22nd largest position. Cabot Wealth Management Inc.’s holdings in Rockwell Automation were worth $6,628,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in ROK. American Century Companies Inc. increased its stake in Rockwell Automation by 2,454.0% during the 1st quarter. American Century Companies Inc. now owns 395,133 shares of the industrial products company’s stock valued at $68,832,000 after purchasing an additional 379,662 shares in the last quarter. Summit Trail Advisors LLC increased its stake in Rockwell Automation by 17,669.8% during the 1st quarter. Summit Trail Advisors LLC now owns 345,622 shares of the industrial products company’s stock valued at $346,000 after purchasing an additional 343,677 shares in the last quarter. Frontier Capital Management Co. LLC bought a new stake in Rockwell Automation during the 2nd quarter valued at $40,950,000. UBS Group AG increased its stake in Rockwell Automation by 4.6% during the 1st quarter. UBS Group AG now owns 5,120,696 shares of the industrial products company’s stock valued at $892,025,000 after purchasing an additional 227,226 shares in the last quarter. Finally, Cambiar Investors LLC bought a new stake in Rockwell Automation during the 2nd quarter valued at $35,385,000. Institutional investors and hedge funds own 76.65% of the company’s stock.
In other news, insider Theodore D. Crandall sold 5,533 shares of the company’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $187.34, for a total value of $1,036,552.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Steven W. Etzel sold 1,400 shares of the company’s stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $187.68, for a total transaction of $262,752.00. Following the completion of the sale, the vice president now 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. Corporate insiders own 1.28% of the company’s stock.
NYSE ROK opened at $173.79 on Wednesday. Rockwell Automation has a 1 year low of $155.81 and a 1 year high of $210.72. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.93 and a quick ratio of 1.60. The firm has a market capitalization of $21.39 billion, a PE ratio of 22.55, a PEG ratio of 1.86 and a beta of 1.23.
Rockwell Automation (NYSE:ROK) last posted its earnings results on Wednesday, July 25th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the business posted $1.76 EPS. The business’s revenue was up 6.2% compared to the same quarter last year. analysts forecast that Rockwell Automation will post 8.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Monday, August 13th will be paid a $0.92 dividend. The ex-dividend date of this dividend is Friday, August 10th. This represents a $3.68 annualized dividend and a dividend yield of 2.12%. Rockwell Automation’s payout ratio is 54.44%.
A number of brokerages have commented on ROK. Morgan Stanley began coverage on shares of Rockwell Automation in a research note on Tuesday. They set an “underweight” rating and a $163.00 price target for the company. Zacks Investment Research lowered shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. Barclays restated a “hold” rating and set a $176.00 price target on shares of Rockwell Automation in a research note 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 for the company. in a research note on Monday, July 16th. Finally, Wolfe Research began coverage on shares of Rockwell Automation in a research note on Wednesday, June 27th. They set a “market perform” rating for the company. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. Rockwell Automation currently has a consensus rating of “Hold” and a consensus price target of $184.77.
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: Analyst Ratings
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