Equitable Trust Co. Sells 10,373 Shares of Rockwell Automation, Inc. $ROK

Equitable Trust Co. cut its position in Rockwell Automation, Inc. (NYSE:ROK) by 80.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,569 shares of the industrial products company’s stock after selling 10,373 shares during the quarter. Equitable Trust Co.’s holdings in Rockwell Automation were worth $853,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ROK. Citizens National Bank Trust Department bought a new stake in shares of Rockwell Automation in the first quarter valued at $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Rockwell Automation in the first quarter valued at $31,000. IMA Advisory Services Inc. bought a new stake in shares of Rockwell Automation in the first quarter valued at $32,000. Cooksen Wealth LLC bought a new stake in shares of Rockwell Automation in the first quarter valued at $34,000. Finally, Legend Financial Advisors Inc. bought a new stake in shares of Rockwell Automation in the second quarter valued at $39,000. 75.75% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Cyril Perducat sold 1,435 shares of the company’s stock in a transaction dated 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 directly owned 3,787 shares in the company, valued at $1,318,178.96. This represents a 27.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James P. Keane sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $356.06, for a total value of $1,068,180.00. Following the completion of the transaction, the director owned 9,192 shares of the company’s stock, valued at $3,272,903.52. The trade was a 24.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,822 shares of company stock worth $10,456,644. 0.68% of the stock is owned by corporate insiders.

Rockwell Automation Price Performance

Shares of NYSE ROK opened at $344.20 on Wednesday. The firm has a market capitalization of $38.70 billion, a P/E ratio of 40.40, a P/E/G ratio of 3.05 and a beta of 1.41. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.72. The stock’s 50-day simple moving average is $343.52 and its two-hundred day simple moving average is $315.80. Rockwell Automation, Inc. has a twelve month low of $215.00 and a twelve month high of $360.92.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.15. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates 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 in the prior year, the company earned $2.71 EPS. As a group, equities analysts anticipate that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on ROK. Wall Street Zen upgraded Rockwell Automation from a “hold” rating to a “buy” rating in a research note on Sunday, September 21st. Stephens reiterated an “overweight” rating and set a $375.00 price objective (up from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. KeyCorp boosted their price objective on Rockwell Automation from $370.00 to $380.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Wells Fargo & Company boosted their price objective on Rockwell Automation from $345.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Rockwell Automation in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Rockwell Automation presently has an average rating of “Moderate Buy” and an average price target of $340.79.

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.