Lord Abbett & Company Cut Its Holding in Rockwell Automation Com (ROK) by $44.82 Million; 3M Co (MMM) Shareholder Jones Financial Companies Lllp Decreased Its Position as Valuation Declined

May 24, 2018 - By Kurt Siggers

Rockwell Automation Inc. (NYSE:ROK) Logo

Jones Financial Companies Lllp decreased its stake in 3M Co (MMM) by 16.96% based on its latest 2017Q4 regulatory filing with the SEC. Jones Financial Companies Lllp sold 5,198 shares as the company’s stock declined 8.03% with the market. The institutional investor held 25,442 shares of the medical and dental instruments company at the end of 2017Q4, valued at $5.99M, down from 30,640 at the end of the previous reported quarter. Jones Financial Companies Lllp who had been investing in 3M Co for a number of months, seems to be less bullish one the $117.95B market cap company. The stock decreased 0.15% or $0.3 during the last trading session, reaching $198.67. About 2.74M shares traded. 3M Company (NYSE:MMM) has risen 13.36% since May 24, 2017 and is uptrending. It has outperformed by 1.81% the S&P500.

Lord Abbett & Company decreased its stake in Rockwell Automation Inc Com (ROK) by 36.59% based on its latest 2017Q4 regulatory filing with the SEC. Lord Abbett & Company sold 228,655 shares as the company’s stock declined 10.98% with the market. The institutional investor held 396,185 shares of the capital goods company at the end of 2017Q4, valued at $77.79M, down from 624,840 at the end of the previous reported quarter. Lord Abbett & Company who had been investing in Rockwell Automation Inc Com for a number of months, seems to be less bullish one the $22.71 billion market cap company. The stock decreased 0.18% or $0.32 during the last trading session, reaching $180.8. About 866,277 shares traded. Rockwell Automation Inc. (NYSE:ROK) has risen 13.32% since May 24, 2017 and is uptrending. It has outperformed by 1.77% the S&P500.

Among 17 analysts covering 3M (NYSE:MMM), 8 have Buy rating, 4 Sell and 5 Hold. Therefore 47% are positive. 3M had 93 analyst reports since July 24, 2015 according to SRatingsIntel. The stock of 3M Company (NYSE:MMM) has “Equal-Weight” rating given on Monday, October 5 by Barclays Capital. RBC Capital Markets maintained the stock with “Underperform” rating in Wednesday, December 16 report. The stock of 3M Company (NYSE:MMM) earned “Buy” rating by Bank of America on Wednesday, October 25. Stifel Nicolaus maintained the stock with “Hold” rating in Wednesday, December 13 report. The rating was maintained by RBC Capital Markets with “Hold” on Tuesday, April 24. The stock of 3M Company (NYSE:MMM) has “Buy” rating given on Monday, October 9 by Citigroup. The stock of 3M Company (NYSE:MMM) has “Buy” rating given on Tuesday, February 13 by Deutsche Bank. RBC Capital Markets upgraded the stock to “Sector Perform” rating in Wednesday, December 7 report. The stock has “Outperform” rating by Credit Suisse on Wednesday, October 25. The firm earned “Buy” rating on Tuesday, September 26 by Jefferies.

Jones Financial Companies Lllp, which manages about $39.91 billion US Long portfolio, upped its stake in Vanguard Ftse All (VEU) by 742,172 shares to 15.46 million shares, valued at $846.15M in 2017Q4, according to the filing. It also increased its holding in Ishares Russell 1000 Etf (IWB) by 538,471 shares in the quarter, for a total of 3.71 million shares, and has risen its stake in Vanguard Total Stock Market Etf (VTI).

Analysts await 3M Company (NYSE:MMM) to report earnings on July, 24. They expect $2.63 EPS, up 1.94% or $0.05 from last year’s $2.58 per share. MMM’s profit will be $1.56B for 18.88 P/E if the $2.63 EPS becomes a reality. After $2.50 actual EPS reported by 3M Company for the previous quarter, Wall Street now forecasts 5.20% EPS growth.

Investors sentiment increased to 0.83 in Q4 2017. Its up 0.06, from 0.77 in 2017Q3. It is positive, as 47 investors sold MMM shares while 635 reduced holdings. 147 funds opened positions while 416 raised stakes. 383.04 million shares or 1.04% less from 387.06 million shares in 2017Q3 were reported. 24,184 are owned by Amica Mutual Ins Company. Roundview Cap Limited Company has invested 0.89% in 3M Company (NYSE:MMM). Bnp Paribas Arbitrage owns 109,157 shares for 0.04% of their portfolio. Convergence Investment Prtn Limited stated it has 0.03% in 3M Company (NYSE:MMM). Moreover, Schwab Charles Invest has 0.59% invested in 3M Company (NYSE:MMM). Marble Harbor Inv Counsel Ltd Liability reported 2.37% in 3M Company (NYSE:MMM). Sandhill Prns Lc holds 0.72% or 17,133 shares in its portfolio. Btc Capital Mgmt owns 870 shares. Grimes & Company has 11,348 shares. Saturna Capital holds 1.89% or 262,617 shares. Moreover, Balasa Dinverno Foltz Ltd Company has 0.15% invested in 3M Company (NYSE:MMM) for 4,374 shares. Trustco Financial Bank Corp N Y owns 2.74% invested in 3M Company (NYSE:MMM) for 11,284 shares. Catalyst Cap Advsrs invested in 0% or 255 shares. Silvercrest Asset Grp Limited Company holds 0.17% or 79,087 shares. Aspen Inv Management Inc holds 1,861 shares or 0.31% of its portfolio.

More notable recent 3M Company (NYSE:MMM) news were published by: Seekingalpha.com which released: “3M: Buy On Earnings Dip?” on April 25, 2018, also Seekingalpha.com with their article: “3M Stumbles, And The Knives Come Out” published on April 26, 2018, Seekingalpha.com published: “3M: Pullback Has Prompted Me To Increase My Position” on April 26, 2018. More interesting news about 3M Company (NYSE:MMM) were released by: Investorplace.com and their article: “Resistance Looms Large for 3M Co Stock — Short It!” published on May 11, 2018 as well as Benzinga.com‘s news article titled: “RBC: 3M Remains One Of The Strongest Industrials” with publication date: May 03, 2018.

Since January 31, 2018, it had 0 insider buys, and 16 insider sales for $30.99 million activity. THULIN INGE G also sold $8.85 million worth of 3M Company (NYSE:MMM) shares. Keel Paul A had sold 13,480 shares worth $3.33M. Another trade for 6,243 shares valued at $1.54 million was made by Vale Michael G. on Friday, February 2. Bauman James L sold $2.19 million worth of stock or 8,834 shares. On Friday, February 23 Little Frank R Jr. sold $742,051 worth of 3M Company (NYSE:MMM) or 3,133 shares. Shares for $419,846 were sold by Gangestad Nicholas C on Thursday, February 1.

Since December 8, 2017, it had 0 buys, and 15 sales for $30.33 million activity. 43,100 Rockwell Automation Inc. (NYSE:ROK) shares with value of $7.66M were sold by Kulaszewicz Frank C. Another trade for 1,950 shares valued at $364,813 was made by MCDERMOTT JOHN P on Friday, February 16. Shares for $894,054 were sold by Chand Sujeet. 28,800 shares were sold by Schmitt Susan, worth $5.80 million. Fooks Elik I also sold $932,501 worth of Rockwell Automation Inc. (NYSE:ROK) on Thursday, February 22. 10,500 shares were sold by NOSBUSCH KEITH D, worth $2.13M.

Another recent and important Rockwell Automation Inc. (NYSE:ROK) news was published by Businesswire.com which published an article titled: “NioCorp Awards Contract to Rockwell Automation on Groundbreaking Critical Minerals, Mining and Processing Facility …” on May 21, 2018.

Analysts await Rockwell Automation Inc. (NYSE:ROK) to report earnings on July, 25. They expect $2.03 earnings per share, up 15.34% or $0.27 from last year’s $1.76 per share. ROK’s profit will be $254.93M for 22.27 P/E if the $2.03 EPS becomes a reality. After $1.89 actual earnings per share reported by Rockwell Automation Inc. for the previous quarter, Wall Street now forecasts 7.41% EPS growth.

Among 30 analysts covering Rockwell Automation (NYSE:ROK), 5 have Buy rating, 3 Sell and 22 Hold. Therefore 17% are positive. Rockwell Automation had 74 analyst reports since September 9, 2015 according to SRatingsIntel. The firm earned “Hold” rating on Thursday, October 26 by Cowen & Co. On Friday, August 18 the stock rating was maintained by Oppenheimer with “Hold”. The firm has “Neutral” rating by Credit Suisse given on Wednesday, August 23. The stock of Rockwell Automation Inc. (NYSE:ROK) earned “Neutral” rating by Citigroup on Thursday, January 21. The firm has “Hold” rating by Credit Suisse given on Friday, March 31. The stock of Rockwell Automation Inc. (NYSE:ROK) has “Hold” rating given on Tuesday, October 31 by Wells Fargo. CLSA downgraded the stock to “Underperform” rating in Wednesday, November 11 report. The stock of Rockwell Automation Inc. (NYSE:ROK) earned “Hold” rating by Oppenheimer on Thursday, July 27. The stock of Rockwell Automation Inc. (NYSE:ROK) earned “Neutral” rating by Robert W. Baird on Monday, October 5. As per Friday, September 18, the company rating was initiated by Nomura.

Lord Abbett & Company, which manages about $35.15B US Long portfolio, upped its stake in Blueprint Medicines Corp Com by 17,978 shares to 1.78M shares, valued at $134.48M in 2017Q4, according to the filing. It also increased its holding in Cadence Bancorporation Cl A by 533,164 shares in the quarter, for a total of 758,338 shares, and has risen its stake in Qorvo Inc Com.

Rockwell Automation Inc. (NYSE:ROK) Institutional Positions Chart

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