Pinnacle Associates Ltd. Has $1.25 Million Holdings in Rockwell Automation, Inc. (ROK)
Pinnacle Associates Ltd. boosted its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 9.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 7,702 shares of the industrial products company’s stock after acquiring an additional 690 shares during the period. Pinnacle Associates Ltd.’s holdings in Rockwell Automation were worth $1,247,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ROK. Burney Co. grew its holdings in shares of Rockwell Automation by 56.5% in the 2nd quarter. Burney Co. now owns 3,140 shares of the industrial products company’s stock valued at $499,000 after buying an additional 1,133 shares during the period. Artemis Investment Management LLP acquired a new position in shares of Rockwell Automation in the 2nd quarter valued at $10,847,000. Swiss National Bank grew its holdings in shares of Rockwell Automation by 3.4% in the 2nd quarter. Swiss National Bank now owns 469,836 shares of the industrial products company’s stock valued at $76,095,000 after buying an additional 15,300 shares during the period. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Rockwell Automation by 630.0% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,358 shares of the industrial products company’s stock valued at $706,000 after buying an additional 3,761 shares during the period. Finally, Chicago Equity Partners LLC grew its holdings in shares of Rockwell Automation by 22.8% in the 2nd quarter. Chicago Equity Partners LLC now owns 141,810 shares of the industrial products company’s stock valued at $22,968,000 after buying an additional 26,285 shares during the period. 73.66% of the stock is owned by hedge funds and other institutional investors.
Shares of Rockwell Automation, Inc. (ROK) opened at 163.41 on Wednesday. The stock has a market capitalization of $20.98 billion, a P/E ratio of 26.35 and a beta of 1.16. The company’s 50-day moving average is $163.48 and its 200 day moving average is $158.87. Rockwell Automation, Inc. has a 12 month low of $111.52 and a 12 month high of $167.97.
Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.12. Rockwell Automation had a return on equity of 40.71% and a net margin of 13.04%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm earned $1.55 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. Equities research analysts predict that Rockwell Automation, Inc. will post $6.75 earnings per share for the current year.
Several equities analysts have recently issued reports on ROK shares. BidaskClub raised shares of Rockwell Automation from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Zacks Investment Research raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research note on Tuesday, July 11th. HSBC Holdings plc reaffirmed a “hold” rating and issued a $147.00 target price (up from $134.00) on shares of Rockwell Automation in a research note on Saturday, July 22nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $167.00 target price on shares of Rockwell Automation in a research note on Wednesday, July 19th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Rockwell Automation in a research note on Friday, August 18th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $152.27.
In other news, SVP Frank C. Kulaszewicz sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $165.74, for a total transaction of $1,325,920.00. Following the completion of the transaction, the senior vice president now directly owns 33,195 shares of the company’s stock, valued at approximately $5,501,739.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Keith D. Nosbusch sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $165.50, for a total value of $3,310,000.00. Following the transaction, the director now directly owns 411,286 shares of the company’s stock, valued at $68,067,833. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,425 shares of company stock worth $9,658,813. 1.65% of the stock is owned by insiders.
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Rockwell Automation 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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