Sumitomo Life Insurance Co. Buys 367 Shares of Rockwell Automation (NYSE:ROK)

Sumitomo Life Insurance Co. lifted its stake in shares of Rockwell Automation (NYSE:ROK) by 3.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 12,274 shares of the industrial products company’s stock after acquiring an additional 367 shares during the period. Sumitomo Life Insurance Co.’s holdings in Rockwell Automation were worth $2,011,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ROK. BlackRock Inc. boosted its stake in shares of Rockwell Automation by 8.0% during the 1st quarter. BlackRock Inc. now owns 10,676,789 shares of the industrial products company’s stock worth $1,873,349,000 after acquiring an additional 794,460 shares in the last quarter. Alecta Pensionsforsakring Omsesidigt boosted its stake in shares of Rockwell Automation by 11.0% during the 1st quarter. Alecta Pensionsforsakring Omsesidigt now owns 3,028,265 shares of the industrial products company’s stock worth $531,309,000 after acquiring an additional 300,000 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd boosted its stake in shares of Rockwell Automation by 2,378.9% during the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 215,193 shares of the industrial products company’s stock worth $37,757,000 after acquiring an additional 206,512 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Rockwell Automation by 293.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 188,786 shares of the industrial products company’s stock worth $33,072,000 after acquiring an additional 140,819 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Rockwell Automation by 10.0% during the 1st quarter. Wells Fargo & Company MN now owns 1,506,868 shares of the industrial products company’s stock worth $264,394,000 after acquiring an additional 136,554 shares in the last quarter. Institutional investors own 75.88% of the company’s stock.

Shares of NYSE ROK traded down $4.54 during trading hours on Wednesday, hitting $148.59. 332,100 shares of the company’s stock were exchanged, compared to its average volume of 1,226,680. Rockwell Automation has a 1-year low of $141.46 and a 1-year high of $198.23. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.51 and a quick ratio of 1.17. The stock has a market cap of $18.00 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 2.27 and a beta of 1.40. The firm has a 50-day moving average of $160.62.

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

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 12th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $3.88 annualized dividend and a yield of 2.61%. Rockwell Automation’s dividend payout ratio (DPR) is 47.84%.

Several analysts have recently issued reports on the company. Barclays decreased their price target on Rockwell Automation from $164.00 to $162.00 and set an “equal weight” rating for the company in a research note on Monday, July 1st. Morgan Stanley decreased their price target on Rockwell Automation from $159.00 to $144.00 and set an “underweight” rating for the company in a research note on Friday, June 14th. Gabelli raised Rockwell Automation from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a research report on Wednesday, May 29th. Citigroup cut their price objective on Rockwell Automation from $184.00 to $181.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, BMO Capital Markets cut their price objective on Rockwell Automation from $223.00 to $214.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $173.33.

In other Rockwell Automation news, SVP Michael Laszkiewicz sold 263 shares of the company’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 value of $41,916.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John M. Miller sold 3,250 shares of the company’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 value of $531,927.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,810 shares of company stock valued at $621,819. Insiders own 1.43% of the company’s stock.

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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