Korea Investment CORP Boosts Stake in Rockwell Automation (ROK)

Korea Investment CORP lifted its position in Rockwell Automation (NYSE:ROK) by 342.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,096 shares of the industrial products company’s stock after purchasing an additional 20,971 shares during the quarter. Korea Investment CORP’s holdings in Rockwell Automation were worth $4,077,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ROK. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Rockwell Automation by 21.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 46,400 shares of the industrial products company’s stock valued at $6,982,000 after acquiring an additional 8,075 shares during the period. JOYN Advisors Inc. boosted its holdings in Rockwell Automation by 104.4% during the 4th quarter. JOYN Advisors Inc. now owns 186 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 95 shares during the period. Bessemer Group Inc. boosted its holdings in Rockwell Automation by 8.0% during the 4th quarter. Bessemer Group Inc. now owns 4,518 shares of the industrial products company’s stock valued at $679,000 after acquiring an additional 336 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in Rockwell Automation by 7.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 20,168 shares of the industrial products company’s stock valued at $3,035,000 after acquiring an additional 1,380 shares during the period. Finally, Great West Life Assurance Co. Can boosted its holdings in Rockwell Automation by 0.4% during the 4th quarter. Great West Life Assurance Co. Can now owns 82,044 shares of the industrial products company’s stock valued at $11,761,000 after acquiring an additional 292 shares during the period. Hedge funds and other institutional investors own 74.84% of the company’s stock.

In other news, insider Elik I. Fooks sold 5,100 shares of the stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $177.80, for a total value of $906,780.00. Following the completion of the transaction, the insider now owns 15,597 shares of the company’s stock, valued at approximately $2,773,146.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Frank C. Kulaszewicz sold 9,231 shares of the stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $177.70, for a total value of $1,640,348.70. Following the completion of the transaction, the senior vice president now directly owns 34,893 shares of the company’s stock, valued at approximately $6,200,486.10. The disclosure for this sale can be found here. Company insiders own 1.43% of the company’s stock.



Several equities research analysts recently weighed in on the company. BMO Capital Markets restated an “outperform” rating and set a $195.00 target price on shares of Rockwell Automation in a report on Wednesday, January 30th. Wells Fargo & Co increased their target price on Rockwell Automation from $188.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, January 30th. Credit Suisse Group increased their target price on Rockwell Automation from $158.00 to $166.00 and gave the company an “underperform” rating in a report on Wednesday, January 30th. Citigroup increased their target price on Rockwell Automation to $176.00 and gave the company a “neutral” rating in a report on Wednesday, January 30th. Finally, HSBC upgraded Rockwell Automation from a “reduce” rating to a “buy” rating and increased their target price for the company from $165.00 to $175.00 in a report on Friday, January 25th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Rockwell Automation currently has a consensus rating of “Hold” and a consensus price target of $172.06.

NYSE ROK opened at $180.68 on Friday. Rockwell Automation has a fifty-two week low of $141.46 and a fifty-two week high of $198.23. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.21 and a quick ratio of 0.93. The company has a market capitalization of $21.68 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 2.23 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.22. Rockwell Automation had a return on equity of 66.47% and a net margin of 12.68%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the business posted $1.96 EPS. The business’s revenue was up 3.5% on a year-over-year basis. As a group, research analysts expect that Rockwell Automation will post 9.04 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Tuesday, February 19th were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 2.15%. The ex-dividend date was Friday, February 15th. Rockwell Automation’s dividend payout ratio (DPR) is currently 47.84%.

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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.

Further Reading: SEC Filing

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Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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