Commerzbank Aktiengesellschaft FI Reduces Stock Position in Rockwell Automation, Inc. $ROK

Key Points

• Commerzbank Aktiengesellschaft FI has significantly reduced its holdings in Rockwell Automation by 79.8%, now owning only 877 shares after selling 3,462 shares in the second quarter of 2023.
• Institutional investors now own 75.75% of Rockwell Automation stock, with several firms recently acquiring new stakes valued between $26,000 and $39,000.
• Recent analyst upgrades for Rockwell Automation include a price target increase by Bank of America from $360 to $410, signaling positive sentiment towards the company's performance.

Commerzbank Aktiengesellschaft FI reduced its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 79.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 877 shares of the industrial products company's stock after selling 3,462 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Rockwell Automation were worth $292,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Citizens National Bank Trust Department bought a new stake in Rockwell Automation in the first quarter valued at about $26,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Rockwell Automation in the 1st quarter worth approximately $31,000. IMA Advisory Services Inc. bought a new stake in shares of Rockwell Automation in the 1st quarter valued at approximately $32,000. Cooksen Wealth LLC acquired a new stake in shares of Rockwell Automation during the 1st quarter valued at approximately $34,000. Finally, Legend Financial Advisors Inc. acquired a new position in Rockwell Automation in the second quarter worth $39,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ROK has been the subject of a number of recent research reports. Bank of America raised shares of Rockwell Automation from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $360.00 to $410.00 in a research report on Wednesday, July 16th. Wall Street Zen upgraded Rockwell Automation from a "hold" rating to a "buy" rating in a research report on Sunday, September 21st. Barclays boosted their price objective on Rockwell Automation from $357.00 to $370.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Citigroup restated a "buy" rating on shares of Rockwell Automation in a research note on Thursday. Finally, Oppenheimer cut their target price on 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 given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $340.68.

Rockwell Automation Stock Performance

Shares of ROK opened at $333.79 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72. The firm's 50 day moving average is $343.79 and its 200-day moving average is $314.72. Rockwell Automation, Inc. has a 12-month low of $215.00 and a 12-month high of $360.92. The stock has a market capitalization of $37.53 billion, a P/E ratio of 39.18, a P/E/G ratio of 2.98 and a beta of 1.41.

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 return on equity of 30.14% and a net margin of 12.03%.The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the firm earned $2.71 EPS. The company's quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Insider Activity at Rockwell Automation

In related news, VP Isaac Woods sold 365 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $348.44, for a total transaction of $127,180.60. Following the completion of the sale, the vice president directly owned 1,691 shares in the company, valued at approximately $589,212.04. This trade represents a 17.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 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. This trade represents a 24.61% 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. Company insiders own 0.68% of the company's stock.

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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