Westside Investment Management Inc. Invests $245,000 in Rockwell Automation (NYSE:ROK)

Westside Investment Management Inc. acquired a new position in shares of Rockwell Automation (NYSE:ROK) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 1,500 shares of the industrial products company’s stock, valued at approximately $245,000.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in Rockwell Automation by 8.0% in the first quarter. BlackRock Inc. now owns 10,676,789 shares of the industrial products company’s stock valued at $1,873,349,000 after buying an additional 794,460 shares during the period. Lazard Asset Management LLC raised its holdings in Rockwell Automation by 2.9% in the first quarter. Lazard Asset Management LLC now owns 3,626,458 shares of the industrial products company’s stock valued at $636,297,000 after buying an additional 103,527 shares during the period. Alecta Pensionsforsakring Omsesidigt raised its holdings in Rockwell Automation by 11.0% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 3,028,265 shares of the industrial products company’s stock valued at $531,309,000 after buying an additional 300,000 shares during the period. Geode Capital Management LLC raised its holdings in Rockwell Automation by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 1,702,053 shares of the industrial products company’s stock valued at $255,708,000 after buying an additional 90,580 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in Rockwell Automation by 10.0% in the first quarter. Wells Fargo & Company MN now owns 1,506,868 shares of the industrial products company’s stock valued at $264,394,000 after buying an additional 136,554 shares during the period. Institutional investors and hedge funds own 75.88% of the company’s stock.

In other news, VP John M. Miller sold 3,250 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $163.67, for a total transaction of $531,927.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael Laszkiewicz sold 263 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $159.38, for a total transaction of $41,916.94. The disclosure for this sale can be found here. Insiders have sold 3,810 shares of company stock valued at $621,819 in the last three months. Corporate insiders own 1.43% of the company’s stock.

Shares of ROK stock traded down $2.90 during mid-day trading on Monday, reaching $150.90. 441,972 shares of the company were exchanged, compared to its average volume of 1,223,114. Rockwell Automation has a fifty-two week low of $141.46 and a fifty-two week high of $198.23. The company has a quick ratio of 1.17, a current ratio of 1.51 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $18.00 billion, a P/E ratio of 18.61, a P/E/G ratio of 2.27 and a beta of 1.40. The company has a 50 day moving average price of $160.90.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.11. Rockwell Automation had a net margin of 15.44% and a return on equity of 78.71%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the company earned $2.16 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, research analysts forecast that Rockwell Automation will post 8.64 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 12th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, August 9th. Rockwell Automation’s payout ratio is currently 47.84%.

Several research firms recently commented on ROK. Citigroup cut their price target on shares of Rockwell Automation from $184.00 to $181.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Morgan Stanley cut their price target on shares of Rockwell Automation from $159.00 to $144.00 and set an “underweight” rating on the stock in a report on Friday, June 14th. BMO Capital Markets cut their price target on shares of Rockwell Automation from $223.00 to $214.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Gabelli upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Wednesday, May 29th. Finally, Deutsche Bank raised their price target on shares of Rockwell Automation from $173.00 to $186.00 and gave the company a “hold” rating in a report on Friday, April 26th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $173.33.

Rockwell Automation Profile

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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