First Citizens Bank & Trust Co. Lowers Stake in Rockwell Automation, Inc. $ROK

First Citizens Bank & Trust Co. lessened its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 2.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,144 shares of the industrial products company’s stock after selling 56 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Rockwell Automation were worth $712,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Howe & Rusling Inc. lifted its stake in shares of Rockwell Automation by 4.9% in the 1st quarter. Howe & Rusling Inc. now owns 794 shares of the industrial products company’s stock worth $205,000 after purchasing an additional 37 shares during the period. IFP Advisors Inc increased its holdings in Rockwell Automation by 2.7% during the second quarter. IFP Advisors Inc now owns 1,427 shares of the industrial products company’s stock valued at $476,000 after buying an additional 37 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Rockwell Automation by 0.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company’s stock worth $1,462,000 after acquiring an additional 43 shares during the period. Wealthfront Advisers LLC boosted its stake in shares of Rockwell Automation by 0.6% during the 1st quarter. Wealthfront Advisers LLC now owns 7,708 shares of the industrial products company’s stock worth $1,992,000 after acquiring an additional 43 shares during the last quarter. Finally, Koshinski Asset Management Inc. grew its position in shares of Rockwell Automation by 1.1% during the 1st quarter. Koshinski Asset Management Inc. now owns 4,097 shares of the industrial products company’s stock valued at $1,059,000 after acquiring an additional 46 shares during the period. 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 Rockwell Automation 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 sale, the senior vice president directly owned 3,787 shares of the company’s stock, valued at approximately $1,318,178.96. The trade was a 27.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Isaac Woods sold 365 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $348.44, for a total value of $127,180.60. Following the transaction, the vice president directly owned 1,691 shares of the company’s stock, valued at approximately $589,212.04. The trade was a 17.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,553 shares of company stock worth $10,361,079. 0.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ROK has been the topic of several analyst reports. Bank of America upgraded Rockwell Automation from a “neutral” rating to a “buy” rating and lifted their target price for the company from $360.00 to $410.00 in a research report on Wednesday, July 16th. Wells Fargo & Company lifted their price objective on Rockwell Automation from $345.00 to $355.00 and gave the company an “equal weight” rating in a research report on Monday, October 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Rockwell Automation in a report on Wednesday, October 8th. CICC Research initiated coverage on shares of Rockwell Automation in a report on Monday, July 7th. They set an “outperform” rating and a $381.00 price target on the stock. Finally, KeyCorp upped their price target on shares of Rockwell Automation from $370.00 to $380.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $347.94.

Rockwell Automation Trading Down 0.0%

Rockwell Automation stock opened at $357.01 on Friday. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $361.60. The firm’s 50 day moving average price is $345.80 and its 200-day moving average price is $321.41. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72. The stock has a market cap of $40.14 billion, a P/E ratio of 41.90, a PEG ratio of 3.20 and a beta of 1.41.

Rockwell Automation (NYSE:ROK) last posted 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 company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. Rockwell Automation’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the company posted $2.71 earnings per share. On average, equities analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share 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.