Hemenway Trust Co LLC raised its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,300 shares of the industrial products company’s stock after acquiring an additional 1,025 shares during the quarter. Rockwell Automation comprises 2.1% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 22nd biggest holding. Hemenway Trust Co LLC’s holdings in Rockwell Automation were worth $10,033,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Old Mutual Global Investors UK Ltd. purchased a new stake in Rockwell Automation in the 2nd quarter valued at about $126,891,000. Ameriprise Financial Inc. increased its stake in Rockwell Automation by 277.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,059,003 shares of the industrial products company’s stock valued at $171,517,000 after buying an additional 778,633 shares during the last quarter. BlackRock Inc. increased its stake in Rockwell Automation by 7.5% in the 2nd quarter. BlackRock Inc. now owns 9,698,308 shares of the industrial products company’s stock valued at $1,570,735,000 after buying an additional 679,645 shares during the last quarter. Voya Investment Management LLC increased its stake in Rockwell Automation by 741.5% in the 2nd quarter. Voya Investment Management LLC now owns 695,922 shares of the industrial products company’s stock valued at $112,712,000 after buying an additional 613,225 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Rockwell Automation by 37.9% in the 2nd quarter. Franklin Resources Inc. now owns 1,156,116 shares of the industrial products company’s stock valued at $187,224,000 after buying an additional 317,777 shares during the last quarter. Hedge funds and other institutional investors own 72.90% of the company’s stock.
ROK has been the subject of a number of research reports. Stifel Nicolaus reissued a “hold” rating and set a $167.00 target price on shares of Rockwell Automation in a research report on Wednesday, July 19th. reaffirmed a “hold” rating and issued a $147.00 price objective (up from $134.00) on shares of Rockwell Automation in a report on Saturday, July 22nd. BidaskClub downgraded shares of Rockwell Automation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. J P Morgan Chase & Co raised shares of Rockwell Automation from an “underweight” rating to a “neutral” rating and set a $153.00 price objective for the company in a report on Thursday, July 27th. Finally, Zacks Investment Research raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $182.00 price target for the company in a report on Friday, July 28th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $165.00.
Rockwell Automation, Inc. (ROK) traded down $0.07 during trading hours on Tuesday, reaching $192.54. 632,200 shares of the company traded hands, compared to its average volume of 863,158. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.46 and a quick ratio of 3.00. The company has a market capitalization of $24,723.27, a price-to-earnings ratio of 28.53, a P/E/G ratio of 2.21 and a beta of 1.24. Rockwell Automation, Inc. has a 1-year low of $129.66 and a 1-year high of $210.72.
Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, November 8th. The industrial products company reported $1.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.03). The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Rockwell Automation had a return on equity of 38.67% and a net margin of 13.08%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $1.52 earnings per share. analysts anticipate that Rockwell Automation, Inc. will post 7.39 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Monday, November 13th will be issued a $0.835 dividend. The ex-dividend date is Friday, November 10th. This is a boost from Rockwell Automation’s previous quarterly dividend of $0.76. This represents a $3.34 annualized dividend and a yield of 1.73%. Rockwell Automation’s payout ratio is 52.68%.
In other Rockwell Automation news, insider Blake D. Moret sold 5,677 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $170.10, for a total transaction of $965,657.70. Following the completion of the sale, the insider now directly owns 21,426 shares of the company’s stock, valued at $3,644,562.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP David M. Dorgan sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the sale, the vice president now directly owns 9,355 shares of the company’s stock, valued at $1,544,042.75. The disclosure for this sale can be found here. Insiders sold 10,400 shares of company stock valued at $1,753,821 over the last ninety days. Corporate insiders own 1.65% of the company’s stock.
Rockwell Automation Profile
Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.
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