Asset Management One Co. Ltd. Acquires 2,691 Shares of Rockwell Automation, Inc. $ROK

Key Points

• Asset Management One Co. Ltd. has increased its ownership of Rockwell Automation, Inc. by 5.8%, acquiring an additional 2,691 shares, bringing its total to 49,427 shares worth $16.4 million.
• Rockwell Automation reported earnings of $2.82 per share for the last quarter, surpassing expectations of $2.67, with revenues of $2.14 billion, indicating a 4.5% increase year-over-year.
• The company has a strong institutional backing with 75.75% of its stock owned by institutional investors and has received multiple "outperform" ratings from analysts, with a consensus price target of $347.94.

Asset Management One Co. Ltd. boosted its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 5.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,427 shares of the industrial products company's stock after purchasing an additional 2,691 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Rockwell Automation were worth $16,418,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ROK. Citizens National Bank Trust Department purchased a new position in Rockwell Automation during the 1st quarter valued at $26,000. Legend Financial Advisors Inc. purchased a new stake in shares of Rockwell Automation in the 2nd quarter worth $39,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Rockwell Automation in the 1st quarter worth $31,000. IMA Advisory Services Inc. purchased a new stake in shares of Rockwell Automation in the 1st quarter worth $32,000. Finally, Cooksen Wealth LLC purchased a new stake in shares of Rockwell Automation in the 1st quarter worth $34,000. Institutional investors own 75.75% of the company's stock.

Rockwell Automation Trading Down 0.0%

Shares of NYSE:ROK opened at $357.01 on Friday. The business's 50-day moving average is $345.80 and its 200 day moving average is $322.13. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $361.60. The firm has a market capitalization of $40.14 billion, a P/E ratio of 41.90, a P/E/G ratio of 3.20 and a beta of 1.41. 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 - Get Free Report) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share (EPS) 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 return on equity of 30.14% and a net margin of 12.03%.The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.71 EPS. On average, research analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Oppenheimer upped their price objective on Rockwell Automation from $363.00 to $365.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 14th. CICC Research assumed coverage on Rockwell Automation in a research note on Monday, July 7th. They set an "outperform" rating and a $381.00 price objective for the company. Weiss Ratings restated a "buy (b-)" rating on shares of Rockwell Automation in a research note on Saturday. Wall Street Zen upgraded Rockwell Automation from a "hold" rating to a "buy" rating in a research note on Sunday, September 21st. 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 note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $347.94.

Insider Transactions at Rockwell Automation

In other news, VP Isaac Woods sold 365 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $348.44, for a total value of $127,180.60. Following the transaction, the vice president directly owned 1,691 shares of the company's stock, valued at approximately $589,212.04. This represents a 17.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Cyril Perducat sold 1,435 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $348.08, for a total value of $499,494.80. Following the completion of the transaction, the senior vice president directly owned 3,787 shares in the company, valued at $1,318,178.96. This represents a 27.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,553 shares of company stock valued at $10,361,079 over the last three months. Company insiders own 0.68% of the company's stock.

Rockwell Automation Company 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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