BOCHK Asset Management Ltd Acquires New Holdings in Rockwell Automation, Inc. $ROK

Key Points

• BOCHK Asset Management Ltd has acquired a new stake in Rockwell Automation, purchasing 800 shares valued at approximately $266,000.
• A series of institutional investors have adjusted their positions in Rockwell Automation, with 75.75% of the stock currently owned by these investors.
• Analysts have shown an optimistic outlook, with many raising their target prices for Rockwell Automation, leading to a consensus rating of "Moderate Buy" for the stock.

BOCHK Asset Management Ltd bought a new stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 800 shares of the industrial products company's stock, valued at approximately $266,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ROK. Brighton Jones LLC bought a new stake in Rockwell Automation during the fourth quarter worth approximately $281,000. Fifth Third Wealth Advisors LLC increased its position in shares of Rockwell Automation by 6.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,309 shares of the industrial products company's stock valued at $338,000 after purchasing an additional 80 shares during the period. NBC Securities Inc. bought a new stake in shares of Rockwell Automation in the 1st quarter worth $216,000. AEGON ASSET MANAGEMENT UK Plc lifted its holdings in shares of Rockwell Automation by 25.6% in the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 50,394 shares of the industrial products company's stock valued at $13,011,000 after buying an additional 10,281 shares during the period. Finally, Apella Capital LLC bought a new position in Rockwell Automation during the first quarter valued at about $233,000. 75.75% of the stock is currently owned by institutional investors.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, VP Terry L. Riesterer sold 269 shares of the business's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $355.26, for a total value of $95,564.94. Following the transaction, the vice president owned 1,613 shares in the company, valued at $573,034.38. The trade was a 14.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Cyril Perducat sold 1,435 shares of the company's stock in a transaction dated Friday, August 29th. The stock was 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 approximately $1,318,178.96. The trade was a 27.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,922 shares of company stock worth $11,191,812. 0.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on ROK shares. KeyCorp lifted their target price on Rockwell Automation from $370.00 to $380.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Barclays lifted their price objective on shares of Rockwell Automation from $357.00 to $370.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Citigroup reissued a "buy" rating and set a $392.00 target price (up from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. Wall Street Zen upgraded shares of Rockwell Automation from a "hold" rating to a "buy" rating in a research report on Sunday, September 21st. Finally, Oppenheimer cut their price objective on Rockwell Automation from $371.00 to $363.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has assigned 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 $340.16.

Rockwell Automation Stock Down 0.0%

NYSE:ROK opened at $349.41 on Thursday. The business's fifty day moving average price is $344.97 and its 200 day moving average price is $310.42. The firm has a market capitalization of $39.28 billion, a price-to-earnings ratio of 41.01, a PEG ratio of 3.65 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, Inc. has a 1-year low of $215.00 and a 1-year high of $360.92.

Rockwell Automation (NYSE:ROK - Get Free Report) last released 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 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 for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.71 EPS. On average, sell-side analysts forecast 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.

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