Rockwell Automation, Inc. $ROK Shares Sold by Notis McConarty Edward

Notis McConarty Edward cut its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 7.4% during the second quarter, HoldingsChannel reports. The fund owned 17,153 shares of the industrial products company’s stock after selling 1,372 shares during the period. Rockwell Automation comprises 2.8% of Notis McConarty Edward’s holdings, making the stock its 14th biggest position. Notis McConarty Edward’s holdings in Rockwell Automation were worth $5,698,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ROK. Citizens National Bank Trust Department purchased a new stake in Rockwell Automation in the first quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. purchased a new stake in Rockwell Automation in the first quarter valued at approximately $31,000. IMA Advisory Services Inc. purchased a new stake in Rockwell Automation in the first quarter valued at approximately $32,000. Cooksen Wealth LLC purchased a new stake in Rockwell Automation in the first quarter valued at approximately $34,000. Finally, Legend Financial Advisors Inc. purchased a new stake in Rockwell Automation in the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Insider Transactions at Rockwell Automation

In related news, VP Isaac Woods sold 250 shares of the company’s stock in a transaction dated 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 represents a 13.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James P. Keane sold 3,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director directly owned 9,192 shares of the company’s stock, valued at approximately $3,272,903.52. This trade represents a 24.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,922 shares of company stock worth $11,191,812. Insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wall Street Zen raised Rockwell Automation from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. Barclays boosted 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. Oppenheimer cut their price objective on Rockwell Automation from $371.00 to $363.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. CICC Research started coverage on Rockwell Automation in a research report on Monday, July 7th. They set an “outperform” rating and a $381.00 price objective on the stock. Finally, Wells Fargo & Company upped their price objective on Rockwell Automation from $345.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday. One investment 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $340.68.

Rockwell Automation Stock Performance

NYSE:ROK opened at $347.73 on Thursday. The business’s fifty day moving average price is $344.19 and its 200 day moving average price is $313.47. The firm has a market capitalization of $39.10 billion, a PE ratio of 40.81, a price-to-earnings-growth ratio of 3.06 and a beta of 1.41. Rockwell Automation, Inc. has a 12 month low of $215.00 and a 12 month high of $360.92. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72.

Rockwell Automation (NYSE:ROK) last announced its earnings results 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. The firm 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 business’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.71 EPS. On average, sell-side analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

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.