Ethic Inc. Has $5.51 Million Holdings in Rockwell Automation, Inc. $ROK

Key Points

• Ethic Inc. increased its holdings in Rockwell Automation by 19.8% during the 2nd quarter, owning a total of 16,706 shares valued at approximately $5.51 million.
• Rockwell Automation's stock currently has a consensus rating of "Moderate Buy" from analysts, with an average price target of $347.94.
• Insider selling has been significant, with executives selling 29,553 shares valued at over $10 million in the last three months.

Ethic Inc. lifted its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 19.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,706 shares of the industrial products company's stock after purchasing an additional 2,763 shares during the quarter. Ethic Inc.'s holdings in Rockwell Automation were worth $5,512,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Howe & Rusling Inc. grew its position in Rockwell Automation by 4.9% in the first quarter. Howe & Rusling Inc. now owns 794 shares of the industrial products company's stock valued at $205,000 after acquiring an additional 37 shares during the period. IFP Advisors Inc grew its position 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 acquiring an additional 37 shares during the period. Allspring Global Investments Holdings LLC grew its position 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 acquiring an additional 43 shares during the period. Wealthfront Advisers LLC grew its position in Rockwell Automation by 0.6% in the first quarter. Wealthfront Advisers LLC now owns 7,708 shares of the industrial products company's stock valued at $1,992,000 after acquiring an additional 43 shares during the period. Finally, Koshinski Asset Management Inc. grew its position in Rockwell Automation by 1.1% in the first quarter. Koshinski Asset Management Inc. now owns 4,097 shares of the industrial products company's stock valued at $1,059,000 after acquiring an additional 46 shares during the period. Institutional investors own 75.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ROK. CICC Research began coverage on Rockwell Automation in a research report on Monday, July 7th. They issued an "outperform" rating and a $381.00 price target on the stock. KeyCorp boosted their price objective on Rockwell Automation from $370.00 to $380.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Citigroup reissued a "buy" rating on shares of Rockwell Automation in a research note on Thursday, October 9th. Bank of America raised Rockwell Automation from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $360.00 to $410.00 in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company upped their price objective on Rockwell Automation from $345.00 to $355.00 and gave the company an "equal weight" rating in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $347.94.

Rockwell Automation Stock Down 1.1%

Shares of Rockwell Automation stock opened at $350.22 on Thursday. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $360.92. The business has a 50-day moving average of $345.33 and a two-hundred day moving average of $319.55. The company has a market capitalization of $39.38 billion, a P/E ratio of 41.11, a price-to-earnings-growth ratio of 3.18 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.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.15. The company had revenue of $2.14 billion during 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% compared to the same quarter last year. During the same period in the prior year, the company earned $2.71 earnings per share. As a group, equities analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Insider Transactions at Rockwell Automation

In other Rockwell Automation news, SVP Cyril Perducat sold 1,435 shares of the stock in a transaction 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 owned 3,787 shares in the company, valued at $1,318,178.96. This trade represents a 27.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James P. Keane sold 3,000 shares of the 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 of the company's stock, valued at approximately $3,272,903.52. This represents a 24.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,553 shares of company stock valued at $10,361,079 over the last three months. 0.68% of the stock is currently owned by corporate insiders.

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.

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