Crowley Wealth Management Inc. Sells 2,685 Shares of Rockwell Automation, Inc. $ROK

Key Points

• Crowley Wealth Management Inc. reduced its stake in Rockwell Automation by 62.5%, selling 2,685 shares, leaving them with 1,610 shares valued at approximately $535,000.
• Rockwell Automation's stock recently opened at $339.96, with a market cap of $38.22 billion, and it has experienced a year-to-date price fluctuation between a low of $215.00 and a high of $360.92.
• Several analysts have adjusted their ratings on Rockwell Automation, with Bank of America upgrading it to a "buy" and increasing the target price from $360.00 to $410.00.

Crowley Wealth Management Inc. reduced its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 62.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,610 shares of the industrial products company's stock after selling 2,685 shares during the period. Crowley Wealth Management Inc.'s holdings in Rockwell Automation were worth $535,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ROK. Citizens National Bank Trust Department purchased a new stake in Rockwell Automation in the 1st quarter worth approximately $26,000. Legend Financial Advisors Inc. purchased a new stake in shares of Rockwell Automation in the 2nd quarter worth about $39,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Rockwell Automation in the 1st quarter worth about $31,000. IMA Advisory Services Inc. purchased a new stake in shares of Rockwell Automation in the 1st quarter worth about $32,000. Finally, Cooksen Wealth LLC purchased a new position in Rockwell Automation during the 1st quarter valued at about $34,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director James P. Keane sold 3,000 shares of Rockwell Automation stock in a transaction that occurred on Tuesday, August 26th. The shares were 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 directly owned 9,192 shares of the company's stock, valued at $3,272,903.52. The trade was a 24.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Cyril Perducat sold 1,435 shares of the business's stock in a transaction 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 completion of the sale, the senior vice president directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,922 shares of company stock worth $11,191,812. 0.68% of the stock is currently owned by corporate insiders.

Rockwell Automation Stock Down 0.7%

Shares of Rockwell Automation stock opened at $339.96 on Friday. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $360.92. The stock has a market cap of $38.22 billion, a price-to-earnings ratio of 39.90, a PEG ratio of 3.57 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. The firm's 50-day moving average is $345.61 and its two-hundred day moving average is $308.05.

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 for the quarter, beating analysts' consensus estimates of $2.67 by $0.15. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The company's revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $2.71 EPS. As a group, research analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wells Fargo & Company set a $345.00 target price on shares of Rockwell Automation and gave the stock an "equal weight" rating in a report on Friday, August 8th. Wall Street Zen upgraded shares of Rockwell Automation from a "hold" rating to a "buy" rating in a research report on Sunday, September 21st. Bank of America upgraded shares of 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 report on Wednesday, July 16th. 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 report on Thursday, August 7th. Finally, Citigroup reissued a "buy" rating and issued a $392.00 target price (up previously from $371.00) on shares of Rockwell Automation in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Rockwell Automation presently has a consensus rating of "Moderate Buy" and a consensus price target of $340.16.

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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