Convergence Investment Partners LLC Buys Shares of 3,953 Rockwell Automation, Inc. $ROK

Convergence Investment Partners LLC bought a new stake in Rockwell Automation, Inc. (NYSE:ROK) during the second quarter, Holdings Channel.com reports. The firm bought 3,953 shares of the industrial products company’s stock, valued at approximately $1,313,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ROK. Brighton Jones LLC purchased a new stake in Rockwell Automation in the fourth quarter valued at $281,000. GAMMA Investing LLC raised its position in Rockwell Automation by 15.9% in the first quarter. GAMMA Investing LLC now owns 2,720 shares of the industrial products company’s stock valued at $703,000 after purchasing an additional 373 shares during the period. Sequoia Financial Advisors LLC raised its position in Rockwell Automation by 1.8% in the first quarter. Sequoia Financial Advisors LLC now owns 4,725 shares of the industrial products company’s stock valued at $1,221,000 after purchasing an additional 83 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of Rockwell Automation by 26.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 48,647 shares of the industrial products company’s stock valued at $12,569,000 after buying an additional 10,023 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Rockwell Automation by 1,287.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 159,481 shares of the industrial products company’s stock valued at $41,221,000 after buying an additional 147,985 shares during the period. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Down 0.0%

Rockwell Automation stock opened at $357.01 on Monday. Rockwell Automation, Inc. has a twelve month low of $215.00 and a twelve month high of $361.60. The stock has a 50 day moving average of $345.80 and a two-hundred day moving average of $322.69. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $40.14 billion, a price-to-earnings ratio of 41.90, a PEG ratio of 3.20 and a beta of 1.41.

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

Analyst Ratings Changes

ROK has been the topic of several recent research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Rockwell Automation in a report on Saturday. Barclays upped their target price on Rockwell Automation from $357.00 to $370.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Bank of America raised Rockwell Automation from a “neutral” rating to a “buy” rating and upped their target price for the company from $360.00 to $410.00 in a research report on Wednesday, July 16th. Citigroup reissued a “buy” rating on shares of Rockwell Automation in a research report on Thursday, October 9th. Finally, Wall Street Zen raised Rockwell Automation from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $347.94.

Insiders Place Their Bets

In other news, VP Isaac Woods sold 250 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $350.00, for a total value of $87,500.00. Following the completion of the sale, the vice president directly owned 1,662 shares of the company’s stock, valued at $581,700. This trade represents a 13.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Cyril Perducat sold 1,435 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $348.08, for a total value of $499,494.80. Following the completion of the sale, the senior vice president directly owned 3,787 shares of the company’s stock, valued at $1,318,178.96. This represents a 27.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,553 shares of company stock valued at $10,361,079 over the last 90 days. 0.68% of the stock is owned by corporate insiders.

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.