Rockwell Automation, Inc. $ROK Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC lowered its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 23.7% in the second quarter, Holdings Channel reports. The institutional investor owned 3,795 shares of the industrial products company’s stock after selling 1,181 shares during the quarter. Apollon Wealth Management LLC’s holdings in Rockwell Automation were worth $1,261,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Howe & Rusling Inc. increased its holdings in Rockwell Automation by 4.9% in the 1st quarter. Howe & Rusling Inc. now owns 794 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 37 shares during the last quarter. IFP Advisors Inc increased its holdings in Rockwell Automation by 2.7% in the 2nd quarter. IFP Advisors Inc now owns 1,427 shares of the industrial products company’s stock valued at $476,000 after purchasing an additional 37 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Rockwell Automation by 0.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company’s stock valued at $1,462,000 after purchasing an additional 43 shares during the last quarter. Wealthfront Advisers LLC increased its holdings in Rockwell Automation by 0.6% in the 1st quarter. Wealthfront Advisers LLC now owns 7,708 shares of the industrial products company’s stock valued at $1,992,000 after purchasing an additional 43 shares during the last quarter. Finally, Koshinski Asset Management Inc. increased its holdings in Rockwell Automation by 1.1% in 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 purchasing an additional 46 shares during the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Price Performance

Rockwell Automation stock opened at $344.20 on Wednesday. The stock has a market cap of $38.70 billion, a P/E ratio of 40.40, a price-to-earnings-growth ratio of 3.05 and a beta of 1.41. The company has a fifty day simple moving average of $343.52 and a 200-day simple moving average of $315.80. Rockwell Automation, Inc. has a 12-month low of $215.00 and a 12-month high of $360.92. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72.

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, topping the consensus estimate of $2.67 by $0.15. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the company earned $2.71 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Analysts Set New Price Targets

ROK has been the subject of several research reports. Bank of America upgraded shares of 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 report on Wednesday, July 16th. Wells Fargo & Company lifted their target price on shares of Rockwell Automation from $345.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. KeyCorp raised their price target on shares of Rockwell Automation from $370.00 to $380.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Barclays raised their price target on shares of Rockwell Automation from $357.00 to $370.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Finally, CICC Research initiated coverage on shares of Rockwell Automation in a research report on Monday, July 7th. They issued an “outperform” rating and a $381.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $340.79.

Insider Activity

In related news, VP Terry L. Riesterer sold 269 shares of Rockwell Automation stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $355.26, for a total transaction of $95,564.94. Following the sale, the vice president directly owned 1,613 shares in the company, valued at $573,034.38. This trade represents a 14.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James P. Keane sold 3,000 shares of Rockwell Automation stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $356.06, for a total transaction of $1,068,180.00. Following the sale, the director owned 9,192 shares in the company, valued at $3,272,903.52. This represents a 24.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,822 shares of company stock worth $10,456,644 over the last three months. Company insiders own 0.68% of the company’s stock.

About Rockwell Automation

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.