Kornitzer Capital Management Inc. KS Sells 138 Shares of Rockwell Automation, Inc. $ROK

Kornitzer Capital Management Inc. KS reduced its stake in Rockwell Automation, Inc. (NYSE:ROK) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,376 shares of the industrial products company’s stock after selling 138 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Rockwell Automation were worth $1,786,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Wall Street Zen raised shares of Rockwell Automation from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. JPMorgan Chase & Co. lifted their price target on shares of Rockwell Automation from $320.00 to $357.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Oppenheimer increased their price objective on shares of Rockwell Automation from $363.00 to $365.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. Barclays raised their price objective on Rockwell Automation from $357.00 to $370.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Finally, Bank of America raised Rockwell Automation from a “neutral” rating to a “buy” rating and increased their price target for the company from $360.00 to $410.00 in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $347.94.

Rockwell Automation Trading Down 0.0%

Rockwell Automation stock opened at $357.01 on Monday. The stock has a 50-day simple moving average of $345.80 and a 200 day simple moving average of $322.69. The stock has a market capitalization of $40.14 billion, a P/E ratio of 41.90, a PEG ratio of 3.20 and a beta of 1.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.06. Rockwell Automation, Inc. has a 52 week low of $215.00 and a 52 week high of $361.60.

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

Insider Activity at Rockwell Automation

In other Rockwell Automation news, Director James P. Keane sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $356.06, for a total value of $1,068,180.00. Following the transaction, the director directly owned 9,192 shares in the company, valued at $3,272,903.52. The trade was a 24.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Isaac Woods sold 365 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $348.44, for a total transaction of $127,180.60. Following the sale, the vice president owned 1,691 shares of the company’s stock, valued at approximately $589,212.04. This represents a 17.75% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,553 shares of company stock valued at $10,361,079. 0.68% of the stock is owned by company insiders.

Rockwell Automation 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.