Boston Common Asset Management LLC Has $7.24 Million Stake in Rockwell Automation, Inc. $ROK

Key Points

• Boston Common Asset Management LLC reduced its stake in Rockwell Automation by 21.2%, resulting in a current holding of $7.24 million in shares.
• Multiple hedge funds have adjusted their positions in Rockwell Automation, with 75.75% of the stock now held by institutional investors.
• Rockwell Automation reported a quarterly EPS of $2.82, exceeding analysts' expectations, and revenue of $2.14 billion, which was also above consensus estimates.

Boston Common Asset Management LLC trimmed its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 21.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,797 shares of the industrial products company's stock after selling 5,862 shares during the period. Boston Common Asset Management LLC's holdings in Rockwell Automation were worth $7,240,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Talbot Financial LLC raised its holdings in shares of Rockwell Automation by 16.3% during the second quarter. Talbot Financial LLC now owns 29,908 shares of the industrial products company's stock worth $9,935,000 after acquiring an additional 4,193 shares during the period. Clarius Group LLC raised its holdings in shares of Rockwell Automation by 13.7% during the second quarter. Clarius Group LLC now owns 1,347 shares of the industrial products company's stock worth $447,000 after acquiring an additional 162 shares during the period. Accel Wealth Management acquired a new stake in shares of Rockwell Automation during the second quarter worth $229,000. Hudson Valley Investment Advisors Inc. ADV acquired a new stake in shares of Rockwell Automation during the second quarter worth $3,092,000. Finally, Ascent Group LLC raised its holdings in shares of Rockwell Automation by 12.4% during the second quarter. Ascent Group LLC now owns 4,848 shares of the industrial products company's stock worth $1,610,000 after acquiring an additional 533 shares during the period. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ROK shares. KeyCorp lifted their price target on shares of Rockwell Automation from $370.00 to $380.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Rockwell Automation in a research note on Saturday, September 27th. CICC Research started coverage on shares of Rockwell Automation in a research note on Monday, July 7th. They issued an "outperform" rating and a $381.00 price target on the stock. Bank of America upgraded shares of Rockwell Automation from a "neutral" rating to a "buy" rating and lifted their price target for the company from $360.00 to $410.00 in a research note on Wednesday, July 16th. Finally, Oppenheimer lowered their price target on shares of Rockwell Automation from $371.00 to $363.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. One 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 given a Sell rating to the company. According to data from MarketBeat.com, Rockwell Automation presently has a consensus rating of "Moderate Buy" and an average target price of $340.16.

Rockwell Automation Stock Performance

Shares of ROK opened at $349.05 on Friday. The firm has a 50-day moving average of $344.60 and a 200-day moving average of $312.01. Rockwell Automation, Inc. has a one year low of $215.00 and a one year high of $360.92. The company has a market cap of $39.24 billion, a PE ratio of 40.97, a price-to-earnings-growth ratio of 3.14 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 quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.82 EPS for the quarter, beating analysts' consensus estimates of $2.67 by $0.15. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the firm posted $2.71 EPS. The company's quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Cyril Perducat sold 1,435 shares of Rockwell Automation stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $348.08, for a total transaction of $499,494.80. Following the completion of the sale, the senior vice president owned 3,787 shares of the company's stock, valued at approximately $1,318,178.96. The trade was a 27.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Terry L. Riesterer sold 2,100 shares of Rockwell Automation stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $350.08, for a total transaction of $735,168.00. Following the sale, the vice president directly owned 1,033 shares of the company's stock, valued at $361,632.64. The trade was a 67.03% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,922 shares of company stock worth $11,191,812. Corporate insiders own 0.68% of the company's stock.

About Rockwell Automation

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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