Carmel Capital Partners LLC Sells 990 Shares of Rockwell Automation, Inc. $ROK

Key Points

• Carmel Capital Partners LLC reduced its holdings in Rockwell Automation by 13.1% in Q2, selling 990 shares, and now owns 6,580 shares worth approximately $2.19 million.
• Several institutional investors have increased their positions in Rockwell Automation, with a combined ownership of 75.75% of the company's stock.
• Analysts have raised their price targets for Rockwell Automation, with Oppenheimer projecting a price target increase from $363 to $365 and KeyCorp raising theirs to $380.

Carmel Capital Partners LLC lessened its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 13.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,580 shares of the industrial products company's stock after selling 990 shares during the quarter. Carmel Capital Partners LLC's holdings in Rockwell Automation were worth $2,186,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Howe & Rusling Inc. boosted its position in shares of Rockwell Automation by 4.9% in the first quarter. Howe & Rusling Inc. now owns 794 shares of the industrial products company's stock valued at $205,000 after acquiring an additional 37 shares during the period. IFP Advisors Inc boosted its position in shares of Rockwell Automation by 2.7% in the second quarter. IFP Advisors Inc now owns 1,427 shares of the industrial products company's stock valued at $476,000 after acquiring an additional 37 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Rockwell Automation by 0.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company's stock valued at $1,462,000 after acquiring an additional 43 shares during the period. Wealthfront Advisers LLC boosted its position in shares of Rockwell Automation by 0.6% in the first quarter. Wealthfront Advisers LLC now owns 7,708 shares of the industrial products company's stock valued at $1,992,000 after acquiring an additional 43 shares during the period. Finally, Koshinski Asset Management Inc. boosted its position in shares of Rockwell Automation by 1.1% in the first quarter. Koshinski Asset Management Inc. now owns 4,097 shares of the industrial products company's stock valued at $1,059,000 after acquiring an additional 46 shares during the period. Institutional investors own 75.75% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on ROK shares. Oppenheimer boosted their price target on Rockwell Automation from $363.00 to $365.00 and gave the company an "outperform" rating in a research note on Tuesday. Wall Street Zen raised Rockwell Automation from a "hold" rating to a "buy" rating in a research note on Sunday, September 21st. Stephens reaffirmed an "overweight" rating and issued a $375.00 price target (up previously from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. Wells Fargo & Company boosted their price target on Rockwell Automation from $345.00 to $355.00 and gave the company an "equal weight" rating in a research note on Monday, October 6th. Finally, KeyCorp boosted their price target on Rockwell Automation from $370.00 to $380.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. One equities research 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $347.94.

Rockwell Automation Stock Down 0.2%

Shares of NYSE ROK opened at $347.19 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. The company has a market cap of $39.03 billion, a price-to-earnings ratio of 40.75, a PEG ratio of 3.12 and a beta of 1.41. Rockwell Automation, Inc. has a 12 month low of $215.00 and a 12 month high of $360.92. The stock has a 50-day moving average price of $344.56 and a two-hundred day moving average price of $317.27.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.67 by $0.15. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.71 earnings per share. As a group, analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Blake D. Moret sold 24,400 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $350.13, for a total transaction of $8,543,172.00. Following the sale, the chief executive officer directly owned 83,873 shares in the company, valued at approximately $29,366,453.49. The trade was a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James P. Keane sold 3,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $356.06, for a total value of $1,068,180.00. Following the sale, the director owned 9,192 shares in the company, valued at approximately $3,272,903.52. This trade represents a 24.61% 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 worth $10,361,079 in the last ninety days. 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.

Want to see what other hedge funds are holding ROK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rockwell Automation, Inc. (NYSE:ROK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.