Franklin Resources Inc. raised its stake in Rockwell Automation (NYSE:ROK) by 6.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,408,518 shares of the industrial products company’s stock after buying an additional 81,519 shares during the period. Franklin Resources Inc. owned 1.12% of Rockwell Automation worth $245,366,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. boosted its position in Rockwell Automation by 0.9% in the first quarter. BlackRock Inc. now owns 9,883,663 shares of the industrial products company’s stock valued at $1,721,735,000 after buying an additional 91,879 shares in the last quarter. Lazard Asset Management LLC boosted its position in Rockwell Automation by 5.7% in the fourth quarter. Lazard Asset Management LLC now owns 2,629,619 shares of the industrial products company’s stock valued at $516,325,000 after buying an additional 141,253 shares in the last quarter. Wells Fargo & Company MN boosted its position in Rockwell Automation by 5.5% in the fourth quarter. Wells Fargo & Company MN now owns 1,592,947 shares of the industrial products company’s stock valued at $312,776,000 after buying an additional 83,477 shares in the last quarter. Geode Capital Management LLC boosted its position in Rockwell Automation by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 1,534,506 shares of the industrial products company’s stock valued at $300,749,000 after buying an additional 30,246 shares in the last quarter. Finally, Swedbank boosted its position in Rockwell Automation by 8.1% in the first quarter. Swedbank now owns 1,112,075 shares of the industrial products company’s stock valued at $193,723,000 after buying an additional 83,135 shares in the last quarter. Hedge funds and other institutional investors own 72.98% of the company’s stock.
A number of brokerages have weighed in on ROK. Barclays began coverage on shares of Rockwell Automation in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $200.00 target price on the stock. Cowen raised their target price on shares of Rockwell Automation from $165.00 to $175.00 and gave the company a “market perform” rating in a research report on Tuesday, March 20th. Morgan Stanley cut their price target on shares of Rockwell Automation from $206.00 to $187.00 and set an “equal weight” rating on the stock in a report on Monday, April 30th. Zacks Investment Research lowered shares of Rockwell Automation from a “buy” rating to a “hold” rating in a report on Wednesday, May 23rd. Finally, ValuEngine upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating in a report on Monday, May 14th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $186.21.
Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, April 25th. The industrial products company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.07. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.66 billion. Rockwell Automation had a net margin of 6.34% and a return on equity of 42.38%. Rockwell Automation’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.55 earnings per share. equities analysts anticipate that Rockwell Automation will post 7.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Investors of record on Monday, May 14th will be issued a $0.92 dividend. This is a positive change from Rockwell Automation’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, May 11th. This represents a $3.68 annualized dividend and a yield of 2.07%. Rockwell Automation’s payout ratio is presently 54.44%.
In related news, SVP Sujeet Chand sold 4,900 shares of the business’s stock in a transaction on Friday, May 18th. The shares were sold at an average price of $182.46, for a total value of $894,054.00. Following the transaction, the senior vice president now owns 49,327 shares in the company, valued at $9,000,204.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.28% of the stock is owned by insiders.
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.
Receive News & Ratings for Rockwell Automation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rockwell Automation and related companies with MarketBeat.com's FREE daily email newsletter.