WESPAC Advisors SoCal LLC Acquires New Position in Rockwell Automation, Inc. $ROK

WESPAC Advisors SoCal LLC purchased a new position in shares of Rockwell Automation, Inc. (NYSE:ROK) in the second quarter, Holdings Channel reports. The fund purchased 3,303 shares of the industrial products company’s stock, valued at approximately $1,097,000.

A number of other institutional investors also recently bought and sold shares of ROK. Robeco Institutional Asset Management B.V. grew its stake in shares of Rockwell Automation by 720.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 399,309 shares of the industrial products company’s stock worth $132,638,000 after purchasing an additional 350,662 shares during the period. Great Lakes Advisors LLC acquired a new stake in shares of Rockwell Automation during the 1st quarter worth approximately $73,908,000. Nuveen LLC acquired a new stake in shares of Rockwell Automation during the 1st quarter worth approximately $63,632,000. Raymond James Financial Inc. grew its stake in shares of Rockwell Automation by 213.7% during the 1st quarter. Raymond James Financial Inc. now owns 357,080 shares of the industrial products company’s stock worth $92,263,000 after purchasing an additional 243,249 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Rockwell Automation by 1,950.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 202,788 shares of the industrial products company’s stock worth $67,360,000 after purchasing an additional 192,898 shares during the period. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Stock Performance

NYSE:ROK opened at $352.93 on Tuesday. 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 firm has a market capitalization of $39.68 billion, a price-to-earnings ratio of 41.42, a PEG ratio of 3.12 and a beta of 1.41. The company’s 50-day moving average is $345.02 and its two-hundred day moving average is $319.09. Rockwell Automation, Inc. has a 1-year low of $215.00 and a 1-year high of $360.92.

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 for the quarter, compared to analyst estimates of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. Rockwell Automation’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.71 EPS. Analysts forecast that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Insider Activity at Rockwell Automation

In other news, SVP Cyril Perducat sold 1,435 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The shares were 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 approximately $1,318,178.96. This represents a 27.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James P. Keane sold 3,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director owned 9,192 shares in the company, valued at approximately $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. In the last quarter, insiders have sold 29,553 shares of company stock valued at $10,361,079. 0.68% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Bank of America upgraded shares of Rockwell Automation from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $360.00 to $410.00 in a research report on Wednesday, July 16th. Wall Street Zen upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. Barclays lifted their target price 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. 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 research report on Monday, October 6th. Finally, Citigroup reiterated a “buy” rating on shares of Rockwell Automation in a research report on Thursday, October 9th. One 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 company’s stock. Based on data from MarketBeat, Rockwell Automation currently has an average rating of “Moderate Buy” and an average target price of $347.94.

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.