First Mercantile Trust Co. Buys 1,293 Shares of Rockwell Automation (NYSE:ROK)

First Mercantile Trust Co. raised its stake in Rockwell Automation (NYSE:ROK) by 115.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,414 shares of the industrial products company’s stock after acquiring an additional 1,293 shares during the period. First Mercantile Trust Co.’s holdings in Rockwell Automation were worth $398,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Rockwell Automation by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 8,878,447 shares of the industrial products company’s stock valued at $1,454,556,000 after acquiring an additional 25,953 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt increased its holdings in shares of Rockwell Automation by 2.4% in the 3rd quarter. Alecta Pensionsforsakring Omsesidigt now owns 3,243,265 shares of the industrial products company’s stock worth $534,490,000 after buying an additional 75,000 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Rockwell Automation by 3.3% in the 2nd quarter. Wells Fargo & Company MN now owns 1,557,213 shares of the industrial products company’s stock worth $255,119,000 after buying an additional 50,345 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Rockwell Automation by 1,664.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,422,349 shares of the industrial products company’s stock worth $233,024,000 after buying an additional 1,341,730 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Rockwell Automation by 3.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,413,727 shares of the industrial products company’s stock worth $231,612,000 after buying an additional 42,461 shares during the last quarter. Institutional investors own 72.87% of the company’s stock.

A number of analysts have recently weighed in on the stock. Gordon Haskett downgraded shares of Rockwell Automation from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. Barclays restated a “hold” rating and issued a $159.00 target price on shares of Rockwell Automation in a report on Friday, October 4th. Morgan Stanley reduced their target price on shares of Rockwell Automation from $145.00 to $142.00 and set an “underweight” rating on the stock in a report on Friday, October 11th. Wells Fargo & Co downgraded shares of Rockwell Automation from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $185.00 to $165.00 in a report on Monday, September 30th. Finally, Zacks Investment Research downgraded shares of Rockwell Automation from a “hold” rating to a “sell” rating and set a $177.00 target price on the stock. in a report on Wednesday, October 16th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. Rockwell Automation presently has a consensus rating of “Hold” and a consensus price target of $171.36.

In related news, CEO Blake D. Moret sold 7,300 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $179.67, for a total transaction of $1,311,591.00. Following the transaction, the chief executive officer now directly owns 46,995 shares in the company, valued at approximately $8,443,591.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Blake D. Moret sold 1,700 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $179.07, for a total transaction of $304,419.00. Following the transaction, the chief executive officer now owns 41,395 shares in the company, valued at $7,412,602.65. The disclosure for this sale can be found here. Corporate insiders own 1.43% of the company’s stock.

Shares of NYSE:ROK opened at $177.82 on Friday. The company has a market capitalization of $21.28 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 2.69 and a beta of 1.41. Rockwell Automation has a 12 month low of $141.46 and a 12 month high of $191.48. The firm’s 50-day moving average is $167.75 and its 200 day moving average is $162.21. The company has a current ratio of 1.51, a quick ratio of 1.17 and a debt-to-equity ratio of 1.68.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.29%. This is an increase from Rockwell Automation’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend is Friday, November 8th. Rockwell Automation’s dividend payout ratio is presently 47.84%.

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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