Tiaa Fsb purchased a new position in Rockwell Automation, Inc. (NYSE:ROK) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 23,724 shares of the industrial products company’s stock, valued at approximately $3,843,000.
A number of other institutional investors have also modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Rockwell Automation by 0.3% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 273,710 shares of the industrial products company’s stock worth $44,330,000 after buying an additional 854 shares during the period. Swiss National Bank raised its holdings in Rockwell Automation by 3.4% during the 2nd quarter. Swiss National Bank now owns 469,836 shares of the industrial products company’s stock worth $76,095,000 after buying an additional 15,300 shares during the period. Bank of America Corp DE raised its holdings in Rockwell Automation by 27.0% during the 1st quarter. Bank of America Corp DE now owns 1,037,845 shares of the industrial products company’s stock worth $161,602,000 after buying an additional 220,675 shares during the period. Blair William & Co. IL raised its holdings in Rockwell Automation by 5.7% during the 2nd quarter. Blair William & Co. IL now owns 5,414 shares of the industrial products company’s stock worth $877,000 after buying an additional 293 shares during the period. Finally, Sit Investment Associates Inc. raised its holdings in Rockwell Automation by 127.5% during the 2nd quarter. Sit Investment Associates Inc. now owns 147,995 shares of the industrial products company’s stock worth $23,969,000 after buying an additional 82,945 shares during the period. Hedge funds and other institutional investors own 73.61% of the company’s stock.
In related news, Director Keith D. Nosbusch sold 20,000 shares of Rockwell Automation 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 sale, the director now owns 411,286 shares of the company’s stock, valued at approximately $68,067,833. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Blake D. Moret sold 1,723 shares of Rockwell Automation stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $170.06, for a total value of $293,013.38. Following the completion of the sale, the insider now directly owns 22,849 shares in the company, valued at approximately $3,885,700.94. The disclosure for this sale can be found here. In the last three months, insiders sold 65,825 shares of company stock worth $10,917,484. 1.65% of the stock is owned by insiders.
Shares of Rockwell Automation, Inc. (NYSE:ROK) traded down 0.09% during midday trading on Friday, hitting $177.17. The company had a trading volume of 30,094 shares. The firm’s 50-day moving average is $164.79 and its 200-day moving average is $160.06. Rockwell Automation, Inc. has a 12-month low of $113.50 and a 12-month high of $177.72. The firm has a market capitalization of $22.74 billion, a P/E ratio of 28.57 and a beta of 1.16.
Rockwell Automation (NYSE:ROK) last announced its earnings results on Wednesday, July 26th. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, beating 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 last year, the firm earned $1.55 EPS. Rockwell Automation’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts predict that Rockwell Automation, Inc. will post $6.75 earnings per share for the current fiscal year.
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Several analysts have issued reports on the company. Cowen and Company restated a “hold” rating and set a $140.00 price objective on shares of Rockwell Automation in a report on Sunday, September 17th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Rockwell Automation in a report on Friday, August 18th. Zacks Investment Research upgraded Rockwell Automation from a “hold” rating to a “buy” rating and set a $182.00 price objective on the stock in a report on Friday, July 28th. J P Morgan Chase & Co upgraded Rockwell Automation from an “underweight” rating to a “neutral” rating and set a $153.00 price objective on the stock in a report on Thursday, July 27th. Finally, Wolfe Research assumed coverage on Rockwell Automation in a report on Tuesday, July 11th. They set a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $152.27.
About Rockwell Automation
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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