Duncan Williams Asset Management LLC Takes Position in Rockwell Automation, Inc. $ROK

Key Points

• Duncan Williams Asset Management LLC has initiated a position in Rockwell Automation by purchasing 875 shares worth approximately $291,000 in the second quarter.
• The stock currently holds a consensus rating of "Moderate Buy" with a price target of $340.68, following recent upgrades from various analysts, including Bank of America raising its target from $360 to $410.
• Rockwell Automation reported earnings of $2.82 per share, exceeding expectations, with revenue of $2.14 billion for the last quarter, up 4.5% compared to the previous year.

Duncan Williams Asset Management LLC bought a new position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 875 shares of the industrial products company's stock, valued at approximately $291,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Citizens National Bank Trust Department bought a new position in shares of Rockwell Automation during the first quarter valued at $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Rockwell Automation in the first quarter valued at $31,000. IMA Advisory Services Inc. acquired a new stake in Rockwell Automation in the first quarter valued at $32,000. Cooksen Wealth LLC bought a new position in Rockwell Automation during the 1st quarter worth $34,000. Finally, Legend Financial Advisors Inc. acquired a new position in Rockwell Automation during the 2nd quarter worth about $39,000. 75.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

ROK has been the subject of several recent research reports. CICC Research initiated coverage on Rockwell Automation in a research note on Monday, July 7th. They issued an "outperform" rating and a $381.00 price target for the company. Bank of America upgraded Rockwell Automation from a "neutral" rating to a "buy" rating and upped their target price for the company from $360.00 to $410.00 in a report on Wednesday, July 16th. Wells Fargo & Company increased their target price on shares of Rockwell Automation from $345.00 to $355.00 and gave the company an "equal weight" rating in a research report on Monday. Barclays boosted their price target on shares of Rockwell Automation from $357.00 to $370.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Finally, KeyCorp increased their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Rockwell Automation presently has a consensus rating of "Moderate Buy" and a consensus price target of $340.68.

Rockwell Automation Stock Performance

Shares of ROK stock opened at $348.69 on Tuesday. The firm has a 50 day moving average of $344.46 and a 200-day moving average of $313.01. The company has a market cap of $39.20 billion, a price-to-earnings ratio of 40.93, a price-to-earnings-growth ratio of 3.10 and a beta of 1.41. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.72. Rockwell Automation, Inc. has a 52 week low of $215.00 and a 52 week high of $360.92.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.67 by $0.15. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. Rockwell Automation's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.71 EPS. On average, equities analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Insider Activity

In other Rockwell Automation news, VP Terry L. Riesterer sold 2,100 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $350.08, for a total value of $735,168.00. Following the transaction, the vice president owned 1,033 shares in the company, valued at approximately $361,632.64. This represents a 67.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Cyril Perducat sold 1,435 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $348.08, for a total value 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 $1,318,178.96. This trade represents a 27.48% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,922 shares of company stock valued at $11,191,812. Corporate 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.