Dempze Nancy E Sells 1,590 Shares of Rockwell Automation, Inc. $ROK

Key Points

• Dempze Nancy E reduced its holdings in Rockwell Automation by 11.4%, selling 1,590 shares and retaining 12,299 shares, valued at approximately $4.08 million.
• Rockwell Automation reported better-than-expected earnings of $2.82 per share for the last quarter, surpassing estimates by $0.15 with a revenue of $2.14 billion, marking a 4.5% year-over-year increase.
• Institutional investors own 75.75% of Rockwell Automation stock, indicating strong confidence in the company's future prospects.

Dempze Nancy E lowered its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 11.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,299 shares of the industrial products company's stock after selling 1,590 shares during the period. Rockwell Automation makes up approximately 2.4% of Dempze Nancy E's portfolio, making the stock its 16th largest position. Dempze Nancy E's holdings in Rockwell Automation were worth $4,085,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Citizens National Bank Trust Department bought a new stake in shares of Rockwell Automation during the first quarter valued at approximately $26,000. Legend Financial Advisors Inc. bought a new stake in shares of Rockwell Automation during the second quarter valued at approximately $39,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Rockwell Automation during the first quarter valued at approximately $31,000. IMA Advisory Services Inc. bought a new stake in Rockwell Automation in the 1st quarter worth approximately $32,000. Finally, Cooksen Wealth LLC bought a new stake in Rockwell Automation in the 1st quarter worth approximately $34,000. Institutional investors own 75.75% of the company's stock.

Rockwell Automation Stock Up 1.0%

ROK opened at $347.73 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.06. Rockwell Automation, Inc. has a fifty-two week low of $215.00 and a fifty-two week high of $360.92. The firm's fifty day moving average is $344.19 and its 200 day moving average is $313.47. The stock has a market cap of $39.10 billion, a price-to-earnings ratio of 40.81, a price-to-earnings-growth ratio of 3.06 and a beta of 1.41.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its 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. 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 for the quarter, compared to analysts' expectations of $2.07 billion. During the same quarter in the previous year, the company earned $2.71 EPS. Rockwell Automation's revenue for the quarter was up 4.5% on a year-over-year basis. On average, sell-side analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Bank of America raised shares of Rockwell Automation from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $360.00 to $410.00 in a research report on Wednesday, July 16th. KeyCorp lifted their target price on shares of Rockwell Automation from $370.00 to $380.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Citigroup reaffirmed a "buy" rating and issued a $392.00 target price (up previously from $371.00) on shares of Rockwell Automation in a research report on Monday, July 14th. Wells Fargo & Company lifted their target price on shares of Rockwell Automation from $345.00 to $355.00 and gave the stock an "equal weight" rating in a research report on Monday. Finally, CICC Research assumed coverage on shares of Rockwell Automation in a research report on Monday, July 7th. They issued an "outperform" rating and a $381.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $340.68.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, VP Isaac Woods sold 365 shares of Rockwell Automation stock in a transaction on Friday, August 29th. The shares were sold at an average price of $348.44, for a total value of $127,180.60. Following the sale, the vice president directly owned 1,691 shares in the company, valued at approximately $589,212.04. The trade was a 17.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James P. Keane sold 3,000 shares of Rockwell Automation stock in a transaction 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 sale, the director owned 9,192 shares in the company, valued at approximately $3,272,903.52. This represents a 24.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,922 shares of company stock worth $11,191,812 in the last 90 days. Company insiders own 0.68% of the company's stock.

Rockwell Automation Company 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.

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.