Rockwell Automation (ROK) Position Lessened by Murphy Capital Management Inc.

Murphy Capital Management Inc. decreased its position in shares of Rockwell Automation (NYSE:ROK) by 22.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 5,540 shares of the industrial products company’s stock after selling 1,565 shares during the period. Murphy Capital Management Inc.’s holdings in Rockwell Automation were worth $1,038,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in ROK. Summit Trail Advisors LLC lifted its stake in shares of Rockwell Automation by 17,669.8% during the first quarter. Summit Trail Advisors LLC now owns 345,622 shares of the industrial products company’s stock valued at $346,000 after buying an additional 343,677 shares during the period. Frontier Capital Management Co. LLC purchased a new position in shares of Rockwell Automation during the second quarter valued at approximately $40,950,000. Bank of America Corp DE lifted its stake in shares of Rockwell Automation by 23.2% during the second quarter. Bank of America Corp DE now owns 1,224,685 shares of the industrial products company’s stock valued at $203,581,000 after buying an additional 230,688 shares during the period. Cambiar Investors LLC purchased a new position in shares of Rockwell Automation during the second quarter valued at approximately $35,385,000. Finally, Davidson Kempner Capital Management LP purchased a new position in Rockwell Automation during the second quarter worth approximately $29,090,000. 76.68% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP Steven W. Etzel sold 1,400 shares of the firm’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $187.68, for a total value of $262,752.00. Following the transaction, the vice president now owns 8,668 shares of the company’s stock, valued at approximately $1,626,810.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Susan Schmitt sold 4,500 shares of the firm’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $175.02, for a total transaction of $787,590.00. Following the completion of the transaction, the vice president now directly owns 15,967 shares in the company, valued at approximately $2,794,544.34. The disclosure for this sale can be found here. In the last three months, insiders sold 11,433 shares of company stock worth $2,086,894. Insiders own 1.28% of the company’s stock.

Shares of ROK stock opened at $176.03 on Thursday. Rockwell Automation has a 52 week low of $155.81 and a 52 week high of $210.72. The company has a current ratio of 1.93, a quick ratio of 1.60 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $23.10 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 2.01 and a beta of 1.21.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, July 25th. The industrial products company reported $2.16 EPS for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.12. Rockwell Automation had a net margin of 5.97% and a return on equity of 48.24%. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the firm posted $1.76 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities analysts expect that Rockwell Automation will post 8.01 earnings per share for the current year.

Rockwell Automation declared that its Board of Directors has approved a share buyback plan on Thursday, September 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

ROK has been the topic of a number of recent analyst reports. Wolfe Research initiated coverage on shares of Rockwell Automation in a research note on Wednesday, June 27th. They set a “market perform” rating on the stock. Zacks Investment Research downgraded shares of Rockwell Automation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Goldman Sachs Group downgraded shares of Rockwell Automation from a “neutral” rating to a “sell” rating and set a $156.00 price target on the stock. in a research note on Monday, July 16th. Barclays reaffirmed a “hold” rating and set a $176.00 price target on shares of Rockwell Automation in a research note on Thursday, July 26th. Finally, Morgan Stanley increased their price target on shares of Rockwell Automation from $187.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Friday, July 27th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $185.15.

About Rockwell Automation

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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