Nomura Asset Management Co. Ltd. raised its holdings in Rockwell Automation (NYSE:ROK) by 12.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,145 shares of the industrial products company’s stock after acquiring an additional 2,162 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Rockwell Automation were worth $3,760,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in ROK. Ark Investment Management LLC raised its holdings in Rockwell Automation by 48.2% in the 2nd quarter. Ark Investment Management LLC now owns 3,409 shares of the industrial products company’s stock valued at $552,000 after acquiring an additional 1,109 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Rockwell Automation by 1.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 26,968 shares of the industrial products company’s stock valued at $4,806,000 after acquiring an additional 441 shares during the last quarter. Global X MANAGEMENT CO LLC raised its holdings in Rockwell Automation by 8.5% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 13,919 shares of the industrial products company’s stock valued at $2,481,000 after acquiring an additional 1,093 shares during the last quarter. New York State Common Retirement Fund raised its holdings in Rockwell Automation by 2.4% in the 3rd quarter. New York State Common Retirement Fund now owns 326,500 shares of the industrial products company’s stock valued at $58,186,000 after acquiring an additional 7,600 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in Rockwell Automation by 10.5% in the 3rd quarter. Toronto Dominion Bank now owns 53,309 shares of the industrial products company’s stock valued at $9,499,000 after acquiring an additional 5,067 shares during the last quarter. Institutional investors own 73.24% of the company’s stock.
In related news, CFO Patrick P. Goris sold 4,900 shares of Rockwell Automation stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $200.00, for a total value of $980,000.00. Following the completion of the sale, the chief financial officer now owns 11,706 shares in the company, valued at approximately $2,341,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John P. Mcdermott sold 2,050 shares of Rockwell Automation stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $187.90, for a total transaction of $385,195.00. Following the completion of the sale, the insider now owns 40,353 shares of the company’s stock, valued at approximately $7,582,328.70. The disclosure for this sale can be found here. Insiders sold a total of 123,627 shares of company stock valued at $23,604,488 in the last quarter. 1.28% of the stock is owned by insiders.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.22. Rockwell Automation had a net margin of 5.85% and a return on equity of 39.45%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the firm earned $1.75 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. research analysts forecast that Rockwell Automation will post 7.79 earnings per share for the current fiscal year.
Rockwell Automation announced that its board has authorized a stock buyback plan on Wednesday, January 24th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Tuesday, February 20th were issued a $0.835 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $3.34 annualized dividend and a yield of 1.80%. Rockwell Automation’s dividend payout ratio (DPR) is presently 117.19%.
ROK has been the subject of a number of recent research reports. Wolfe Research upgraded shares of Rockwell Automation from a “market perform” rating to an “outperform” rating in a report on Monday, November 20th. Oppenheimer restated a “hold” rating on shares of Rockwell Automation in a report on Monday, November 20th. JPMorgan Chase & Co. initiated coverage on shares of Rockwell Automation in a report on Wednesday, November 29th. They set a “neutral” rating for the company. ValuEngine downgraded shares of Rockwell Automation from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Goldman Sachs Group restated a “neutral” rating and set a $193.00 price target on shares of Rockwell Automation in a report on Friday, December 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $190.00.
WARNING: This article was first published by American Banking News and is the property of of American Banking News. If you are accessing this article on another website, it was illegally copied and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/03/14/nomura-asset-management-co-ltd-acquires-2162-shares-of-rockwell-automation-rok.html.
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.
Want to see what other hedge funds are holding ROK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rockwell Automation (NYSE:ROK).
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.