Rotation gizmo doesn't respect Absolute Location

The editor gizmo appears to be erroneously changing the location of child components with absolute location when their rotation is adjusted. This is inconsistent with the behavior when changing rotation directly via the details panel.

1. Create a new Blueprint Actor with a StaticMesh1 at it's root, and StaticMesh2 attached to StaticMesh1
2. Set StaticMesh2's location to absolute
3. Add your actor to the scene, and directly select the StaticMesh2 component
4. Adjust rotation via the details panel. Note that the actor spins in place (expected)
5. Adjust rotation via the gizmo, note that the actor moves (unexpected)