Carnegie Capital Asset Management LLC Sells 430 Shares of Rockwell Automation (NYSE:ROK)

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Carnegie Capital Asset Management LLC reduced its stake in Rockwell Automation (NYSE:ROK) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,866 shares of the industrial products company’s stock after selling 430 shares during the period. Rockwell Automation makes up approximately 1.0% of Carnegie Capital Asset Management LLC’s investment portfolio, making the stock its 24th biggest position. Carnegie Capital Asset Management LLC owned about 0.07% of Rockwell Automation worth $16,991,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hellman Jordan Management Co. Inc. MA boosted its holdings in Rockwell Automation by 1.0% in the 4th quarter. Hellman Jordan Management Co. Inc. MA now owns 5,050 shares of the industrial products company’s stock valued at $1,023,000 after purchasing an additional 50 shares during the period. Tiedemann Advisors LLC increased its position in shares of Rockwell Automation by 0.9% in the first quarter. Tiedemann Advisors LLC now owns 6,575 shares of the industrial products company’s stock valued at $992,000 after acquiring an additional 57 shares during the period. HighPoint Advisor Group LLC increased its position in shares of Rockwell Automation by 2.3% in the first quarter. HighPoint Advisor Group LLC now owns 2,654 shares of the industrial products company’s stock valued at $463,000 after acquiring an additional 59 shares during the period. Nissay Asset Management Corp Japan ADV increased its position in shares of Rockwell Automation by 0.3% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 19,456 shares of the industrial products company’s stock valued at $2,936,000 after acquiring an additional 67 shares during the period. Finally, Wetherby Asset Management Inc. increased its position in shares of Rockwell Automation by 2.5% in the first quarter. Wetherby Asset Management Inc. now owns 2,817 shares of the industrial products company’s stock valued at $425,000 after acquiring an additional 68 shares during the period. Hedge funds and other institutional investors own 77.35% of the company’s stock.

Rockwell Automation stock traded down $1.27 during midday trading on Thursday, reaching $211.01. 15,374 shares of the company traded hands, compared to its average volume of 842,778. The firm has a market capitalization of $24.49 billion, a price-to-earnings ratio of 35.02, a price-to-earnings-growth ratio of 5.41 and a beta of 1.50. The business has a 50 day moving average of $211.54 and a two-hundred day moving average of $191.34. Rockwell Automation has a 12 month low of $115.38 and a 12 month high of $230.71. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.57 and a quick ratio of 1.21.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Tuesday, April 28th. The industrial products company reported $2.43 EPS for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.61. Rockwell Automation had a net margin of 10.54% and a return on equity of 118.85%. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the company earned $2.04 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. As a group, equities analysts forecast that Rockwell Automation will post 7.19 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be issued a dividend of $1.02 per share. The ex-dividend date is Friday, August 14th. This represents a $4.08 dividend on an annualized basis and a yield of 1.93%. Rockwell Automation’s dividend payout ratio is currently 47.06%.

Several equities analysts recently issued reports on ROK shares. Gabelli cut shares of Rockwell Automation from a “hold” rating to a “sell” rating in a research report on Friday, May 1st. Deutsche Bank boosted their price target on shares of Rockwell Automation from $165.00 to $212.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Bank of America upgraded shares of Rockwell Automation from a “neutral” rating to a “buy” rating and set a $250.00 price target on the stock in a research report on Tuesday, May 26th. Gordon Haskett raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a research note on Wednesday, March 25th. Finally, UBS Group boosted their price objective on shares of Rockwell Automation from $161.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $193.06.

In other Rockwell Automation news, Director James Phillip Holloman sold 1,582 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $194.34, for a total transaction of $307,445.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Patrick P. Goris sold 3,300 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $220.00, for a total transaction of $726,000.00. Following the sale, the chief financial officer now directly owns 13,043 shares of the company’s stock, valued at $2,869,460. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,036 shares of company stock valued at $5,292,882. 0.77% of the stock is owned by corporate insiders.

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.

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

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