PGGM Investments raised its stake in shares of Rockwell Automation Inc. (NYSE:ROK) by 67.3% during the second quarter, Holdings Channel reports. The fund owned 716,358 shares of the company’s stock after buying an additional 288,050 shares during the period. PGGM Investments’ holdings in Rockwell Automation were worth $82,252,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in shares of Rockwell Automation during the fourth quarter valued at about $87,968,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Rockwell Automation during the first quarter valued at about $42,824,000. Lazard Asset Management LLC raised its position in shares of Rockwell Automation by 7.1% in the first quarter. Lazard Asset Management LLC now owns 4,257,988 shares of the company’s stock valued at $484,345,000 after buying an additional 280,916 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Rockwell Automation during the second quarter valued at about $30,221,000. Finally, AXA raised its position in shares of Rockwell Automation by 71.1% in the first quarter. AXA now owns 222,824 shares of the company’s stock valued at $25,346,000 after buying an additional 92,628 shares during the last quarter. 74.29% of the stock is currently owned by institutional investors.
Shares of Rockwell Automation Inc. (NYSE:ROK) traded up 1.32% on Thursday, hitting $118.58. 786,257 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $116.99 and its 200 day moving average price is $115.01. The stock has a market cap of $15.34 billion, a price-to-earnings ratio of 21.10 and a beta of 1.22. Rockwell Automation Inc. has a 12-month low of $87.53 and a 12-month high of $120.75.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.09. Rockwell Automation had a net margin of 12.54% and a return on equity of 35.83%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the business earned $1.59 EPS. The company’s revenue was down 6.4% on a year-over-year basis. On average, equities analysts predict that Rockwell Automation Inc. will post $5.90 earnings per share for the current fiscal year.
Several equities analysts have issued reports on ROK shares. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Rockwell Automation in a report on Monday, June 27th. Barclays PLC cut their price target on shares of Rockwell Automation from $120.00 to $118.00 and set an “equal weight” rating on the stock in a report on Thursday, July 28th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Rockwell Automation in a report on Wednesday, June 22nd. Zacks Investment Research lowered shares of Rockwell Automation from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Finally, Citigroup Inc. cut their price target on shares of Rockwell Automation from $120.00 to $118.00 and set a “neutral” rating on the stock in a report on Thursday, July 28th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. Rockwell Automation presently has a consensus rating of “Hold” and a consensus target price of $105.08.
In related news, VP David M. Dorgan sold 2,200 shares of the stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $119.06, for a total value of $261,932.00. Following the transaction, the vice president now directly owns 12,500 shares of the company’s stock, valued at approximately $1,488,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Douglas M. Hagerman sold 1,400 shares of the stock in a transaction on Friday, August 26th. The shares were sold at an average price of $119.17, for a total transaction of $166,838.00. Following the completion of the transaction, the vice president now directly owns 32,091 shares in the company, valued at $3,824,284.47. The disclosure for this sale can be found here. 1.54% of the stock is currently owned by corporate insiders.
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.
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