Asset Management One Co. Ltd. Raises Holdings in Rockwell Automation, Inc. $ROK

Asset Management One Co. Ltd. lifted its stake in Rockwell Automation, Inc. (NYSE:ROK) by 5.8% during the second quarter, Holdings Channel reports. The institutional investor owned 49,427 shares of the industrial products company’s stock after acquiring an additional 2,691 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Rockwell Automation were worth $16,418,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ROK. Citizens National Bank Trust Department purchased a new stake in shares of Rockwell Automation in the first quarter worth about $26,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Rockwell Automation in the first quarter worth about $31,000. IMA Advisory Services Inc. purchased a new stake in shares of Rockwell Automation in the first quarter worth about $32,000. Cooksen Wealth LLC purchased a new stake in shares of Rockwell Automation in the first quarter worth about $34,000. Finally, Legend Financial Advisors Inc. purchased a new stake in shares of Rockwell Automation in the second quarter worth about $39,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Insider Transactions at Rockwell Automation

In other news, SVP Cyril Perducat sold 1,435 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $348.08, for a total value of $499,494.80. Following the transaction, the senior vice president owned 3,787 shares in the company, valued at $1,318,178.96. This trade represents a 27.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Isaac Woods sold 365 shares of Rockwell Automation stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $348.44, for a total value of $127,180.60. Following the transaction, the vice president owned 1,691 shares in the company, valued at approximately $589,212.04. The trade was a 17.75% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,553 shares of company stock worth $10,361,079. 0.68% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on ROK shares. JPMorgan Chase & Co. raised their price objective on Rockwell Automation from $320.00 to $357.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Stephens reissued an “overweight” rating and issued a $375.00 price objective (up from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. Bank of America raised Rockwell Automation from a “neutral” rating to a “buy” rating and raised their price objective for the company from $360.00 to $410.00 in a report on Wednesday, July 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Rockwell Automation in a report on Saturday. Finally, Oppenheimer raised their price objective on Rockwell Automation from $363.00 to $365.00 and gave the company an “outperform” rating in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Rockwell Automation currently has a consensus rating of “Moderate Buy” and a consensus target price of $347.94.

Rockwell Automation Stock Performance

NYSE ROK opened at $357.01 on Friday. The company has a market cap of $40.14 billion, a PE ratio of 41.90, a price-to-earnings-growth ratio of 3.20 and a beta of 1.41. The stock’s 50 day simple moving average is $345.80 and its 200-day simple moving average is $322.13. Rockwell Automation, Inc. has a 1-year low of $215.00 and a 1-year high of $361.60. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.15. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.71 earnings per share. As a group, equities research analysts anticipate that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Company Profile

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.