Sandy Spring Bank Boosts Position in Rockwell Automation (NYSE:ROK)

Sandy Spring Bank boosted its position in shares of Rockwell Automation (NYSE:ROK) by 17.0% during the second quarter, Holdings Channel reports. The firm owned 23,517 shares of the industrial products company’s stock after buying an additional 3,410 shares during the quarter. Sandy Spring Bank’s holdings in Rockwell Automation were worth $3,853,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Hall Laurie J Trustee boosted its position in Rockwell Automation by 36.0% during the second quarter. Hall Laurie J Trustee now owns 12,400 shares of the industrial products company’s stock worth $2,031,000 after purchasing an additional 3,280 shares in the last quarter. Advisory Services Network LLC lifted its position in shares of Rockwell Automation by 8.8% in the second quarter. Advisory Services Network LLC now owns 6,295 shares of the industrial products company’s stock valued at $1,031,000 after acquiring an additional 511 shares in the last quarter. Pendal Group Ltd lifted its position in shares of Rockwell Automation by 301.9% in the second quarter. Pendal Group Ltd now owns 8,636 shares of the industrial products company’s stock valued at $1,373,000 after acquiring an additional 6,487 shares in the last quarter. Westpac Banking Corp lifted its position in shares of Rockwell Automation by 22.1% in the second quarter. Westpac Banking Corp now owns 50,222 shares of the industrial products company’s stock valued at $8,228,000 after acquiring an additional 9,103 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its position in shares of Rockwell Automation by 426.5% in the second quarter. Capital Advisors Ltd. LLC now owns 179 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 145 shares in the last quarter. Institutional investors own 77.00% of the company’s stock.

Several analysts have recently issued reports on ROK shares. Wells Fargo & Co restated a “buy” rating on shares of Rockwell Automation in a research report on Friday, July 26th. BMO Capital Markets reduced their price objective on Rockwell Automation from $223.00 to $214.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Barclays reduced their price objective on Rockwell Automation from $164.00 to $162.00 and set an “equal weight” rating on the stock in a research report on Monday, July 1st. JPMorgan Chase & Co. set a $154.00 price objective on Rockwell Automation and gave the company a “hold” rating in a research report on Friday, July 19th. Finally, Morgan Stanley reduced their price objective on Rockwell Automation from $159.00 to $144.00 and set an “underweight” rating on the stock in a research report on Friday, June 14th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $173.33.

NYSE ROK traded down $5.44 during trading hours on Wednesday, hitting $147.60. 33,937 shares of the company’s stock were exchanged, compared to its average volume of 924,601. The stock has a 50 day simple moving average of $159.43. Rockwell Automation has a 12-month low of $141.46 and a 12-month high of $198.23. The firm has a market capitalization of $17.91 billion, a price-to-earnings ratio of 18.31, a P/E/G ratio of 2.27 and a beta of 1.40. The company has a quick ratio of 1.17, a current ratio of 1.51 and a debt-to-equity ratio of 1.68.

Rockwell Automation (NYSE:ROK) last released its earnings results on Thursday, July 25th. The industrial products company reported $2.40 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the business posted $2.16 earnings per share. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, research analysts anticipate that Rockwell Automation will post 8.64 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 12th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, August 9th. This represents a $3.88 annualized dividend and a yield of 2.63%. Rockwell Automation’s dividend payout ratio (DPR) is presently 47.84%.

In related news, VP John M. Miller sold 3,250 shares of the stock in a transaction dated Monday, July 29th. The stock was 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 SEC, which can be accessed through the SEC website. Also, insider Blake D. Moret sold 297 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $161.53, for a total value of $47,974.41. The disclosure for this sale can be found here. Insiders have sold 3,810 shares of company stock worth $621,819 over the last quarter. 1.43% of the stock is currently owned by company insiders.

Rockwell Automation Company 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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