111 Capital Decreases Stake in Rockwell Automation, Inc. $ROK

Key Points

• 111 Capital has significantly reduced its stake in Rockwell Automation by 67.9% in the second quarter, holding now 1,563 shares valued at $519,000.
• Rockwell Automation reported a quarterly earnings per share of $2.82, exceeding analysts' expectations and showing a revenue increase of 4.5% year-over-year.
• Several analysts have raised their price targets for Rockwell Automation, with estimates ranging from $345.00 to $392.00, reflecting a generally positive outlook on the stock.

111 Capital reduced its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 67.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,563 shares of the industrial products company's stock after selling 3,308 shares during the period. 111 Capital's holdings in Rockwell Automation were worth $519,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Citizens National Bank Trust Department purchased a new position in shares of Rockwell Automation in the first quarter worth about $26,000. Legend Financial Advisors Inc. purchased a new position in shares of Rockwell Automation in the second quarter worth about $39,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Rockwell Automation in the first quarter worth about $31,000. IMA Advisory Services Inc. purchased a new position in shares of Rockwell Automation in the first quarter worth about $32,000. Finally, Cooksen Wealth LLC purchased a new position in shares of Rockwell Automation in the first quarter worth about $34,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Price Performance

ROK opened at $349.05 on Monday. The stock's 50-day moving average price is $344.60 and its 200 day moving average price is $312.39. Rockwell Automation, Inc. has a 12-month low of $215.00 and a 12-month high of $360.92. The firm has a market cap of $39.24 billion, a price-to-earnings ratio of 40.97, a PEG ratio of 3.10 and a beta of 1.41. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.71 earnings per share. As a group, sell-side analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Insider Buying and Selling

In other Rockwell Automation news, Director James P. Keane sold 3,000 shares of the business'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 completion of the transaction, the director 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 legal filing with the SEC, which is available at the SEC website. Also, VP Isaac Woods sold 365 shares of the stock in a transaction 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 completion of the sale, the vice president owned 1,691 shares in the company, 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. Insiders have sold a total of 31,922 shares of company stock worth $11,191,812 over the last three months. 0.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. KeyCorp raised their price objective 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. Barclays raised their price objective on shares of Rockwell Automation from $357.00 to $370.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Citigroup restated a "buy" rating and set a $392.00 price objective (up from $371.00) on shares of Rockwell Automation in a research report on Monday, July 14th. Stephens restated an "overweight" rating and set a $375.00 price objective (up from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company set a $345.00 price objective on shares of Rockwell Automation and gave the stock an "equal weight" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $340.16.

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.

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