Concurrent Investment Advisors LLC Buys 1,270 Shares of Rockwell Automation, Inc. $ROK

Key Points

• Concurrent Investment Advisors LLC increased its stake in Rockwell Automation by 132.0%, purchasing an additional 1,270 shares, bringing its total holdings to 2,232 shares worth approximately $741,000.
• Several analysts have raised their price targets for Rockwell Automation, with Bank of America increasing their target from $360 to $410 and maintaining a "buy" rating.
• In recent trades, insiders sold over 29,000 shares of Rockwell Automation stock, signaling a decrease in their ownership positions, which may reflect internal confidence about the company's short-term performance.

Concurrent Investment Advisors LLC raised its stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 132.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,232 shares of the industrial products company's stock after purchasing an additional 1,270 shares during the period. Concurrent Investment Advisors LLC's holdings in Rockwell Automation were worth $741,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Howe & Rusling Inc. boosted its position in shares of Rockwell Automation by 4.9% in the 1st quarter. Howe & Rusling Inc. now owns 794 shares of the industrial products company's stock worth $205,000 after purchasing an additional 37 shares during the last quarter. IFP Advisors Inc increased its holdings in 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 purchasing an additional 37 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in 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 buying an additional 43 shares during the period. Wealthfront Advisers LLC boosted its holdings in Rockwell Automation by 0.6% during the first quarter. Wealthfront Advisers LLC now owns 7,708 shares of the industrial products company's stock worth $1,992,000 after buying an additional 43 shares during the last quarter. Finally, Koshinski Asset Management Inc. grew its position in shares of Rockwell Automation by 1.1% during the 1st quarter. Koshinski Asset Management Inc. now owns 4,097 shares of the industrial products company's stock worth $1,059,000 after buying an additional 46 shares during the period. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ROK shares. Oppenheimer lifted their price objective on shares of Rockwell Automation from $363.00 to $365.00 and gave the stock an "outperform" rating in a research note on Tuesday. Stephens reissued an "overweight" rating and set a $375.00 price target (up from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. Weiss Ratings reissued a "buy (b-)" rating on shares of Rockwell Automation in a report on Wednesday, October 8th. Barclays upped their price objective on shares of Rockwell Automation from $357.00 to $370.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Finally, Bank of America raised Rockwell Automation from a "neutral" rating to a "buy" rating and boosted their target price for the company from $360.00 to $410.00 in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $347.94.

Rockwell Automation Trading Down 1.2%

ROK opened at $347.79 on Friday. The stock has a market capitalization of $39.10 billion, a P/E ratio of 40.82, a P/E/G ratio of 3.17 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 12 month low of $215.00 and a 12 month high of $360.92. The firm's fifty day simple moving average is $344.29 and its 200 day simple moving average is $316.66.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its quarterly 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 firm had revenue of $2.14 billion for 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 company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $2.71 EPS. As a group, research analysts anticipate that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, Director James P. Keane sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $356.06, for a total transaction of $1,068,180.00. Following the completion of the transaction, the director owned 9,192 shares of the company's stock, valued at $3,272,903.52. This represents a 24.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Cyril Perducat sold 1,435 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $348.08, for a total transaction of $499,494.80. Following the transaction, the senior vice president directly owned 3,787 shares of the company's stock, 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. Over the last quarter, insiders have sold 29,553 shares of company stock worth $10,361,079. 0.68% of the stock is currently owned by insiders.

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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