Victory Capital Management Inc. trimmed its holdings in Rockwell Automation (NYSE:ROK) by 97.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,612 shares of the industrial products company’s stock after selling 721,370 shares during the period. Victory Capital Management Inc.’s holdings in Rockwell Automation were worth $3,065,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of ROK. Cerebellum GP LLC purchased a new position in shares of Rockwell Automation in the fourth quarter valued at approximately $130,000. Valeo Financial Advisors LLC acquired a new stake in Rockwell Automation in the third quarter valued at approximately $131,000. Rockefeller Financial Services Inc. acquired a new stake in Rockwell Automation in the third quarter valued at approximately $143,000. Gofen & Glossberg LLC IL acquired a new stake in Rockwell Automation in the fourth quarter valued at approximately $202,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Rockwell Automation during the third quarter worth approximately $186,000. Institutional investors and hedge funds own 73.24% of the company’s stock.
A number of research firms have weighed in on ROK. Barclays began coverage on shares of Rockwell Automation in a report on Thursday, February 15th. They set an “equal weight” rating and a $200.00 price objective on the stock. Goldman Sachs Group reiterated a “neutral” rating and issued a $193.00 price objective on shares of Rockwell Automation in a research report on Friday, December 8th. JPMorgan Chase & Co. boosted their target price on shares of Rockwell Automation from $182.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. ValuEngine lowered shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Wells Fargo & Co boosted their price objective on shares of Rockwell Automation from $190.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. Rockwell Automation presently has a consensus rating of “Hold” and an average price target of $190.00.
Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, January 24th. The industrial products company reported $1.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.22. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.60 billion. Rockwell Automation had a return on equity of 39.45% and a net margin of 5.85%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the company earned $1.75 earnings per share. sell-side analysts anticipate that Rockwell Automation will post 7.79 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Friday, February 16th. Rockwell Automation’s dividend payout ratio (DPR) is 50.61%.
Rockwell Automation announced that its board has initiated a share buyback plan on Wednesday, January 24th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In related news, CFO Patrick P. Goris sold 4,900 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $200.00, for a total value of $980,000.00. Following the completion of the sale, the chief financial officer now directly owns 11,706 shares of the company’s stock, valued at approximately $2,341,200. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Frank C. Kulaszewicz sold 43,100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $177.68, for a total value of $7,658,008.00. Following the completion of the transaction, the senior vice president now directly owns 35,338 shares in the company, valued at $6,278,855.84. The disclosure for this sale can be found here. Insiders have sold 123,627 shares of company stock valued at $23,604,488 in the last ninety days. Company insiders own 1.28% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This piece of content was reported by Week Herald and is the property of of Week Herald. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://weekherald.com/2018/03/14/rockwell-automation-rok-position-reduced-by-victory-capital-management-inc.html.
Rockwell Automation Company 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.
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.