Global Assets Advisory LLC Buys Shares of 1,694 Rockwell Automation, Inc. $ROK

Key Points

• Global Assets Advisory LLC has acquired a new position in Rockwell Automation, purchasing 1,694 shares valued at approximately $574,000 during the second quarter.
• Insider trading activity includes CEO Blake D. Moret selling 24,400 shares for $8.54 million, indicating a 22.54% decrease in his ownership.
• Rockwell Automation reported earnings of $2.82 per share for the last quarter, beating estimates and showing a 4.5% revenue increase compared to the previous year.

Global Assets Advisory LLC bought a new position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,694 shares of the industrial products company's stock, valued at approximately $574,000.

Other hedge funds also recently added to or reduced their stakes in the company. Howe & Rusling Inc. boosted its holdings 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 purchasing an additional 37 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Rockwell Automation by 0.8% in the 1st 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 grew its position in shares of 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 in the last quarter. Kelly Financial Services LLC increased its stake in shares of Rockwell Automation by 4.4% during the first quarter. Kelly Financial Services LLC now owns 1,096 shares of the industrial products company's stock worth $283,000 after buying an additional 46 shares during the period. Finally, Koshinski Asset Management Inc. raised its holdings 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 in the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Rockwell Automation

In related news, SVP Cyril Perducat sold 1,435 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $348.08, for a total value of $499,494.80. Following the transaction, the senior vice president owned 3,787 shares in the company, valued at $1,318,178.96. The trade was a 27.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Blake D. Moret sold 24,400 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $350.13, for a total value of $8,543,172.00. Following the sale, the chief executive officer directly owned 83,873 shares of the company's stock, valued at approximately $29,366,453.49. This represents a 22.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,922 shares of company stock worth $11,191,812 in the last three months. Company insiders own 0.68% of the company's stock.

Rockwell Automation Trading Up 0.1%

NYSE:ROK opened at $349.05 on Monday. The company has a market capitalization of $39.24 billion, a PE ratio of 40.97, a P/E/G ratio of 3.10 and a beta of 1.41. Rockwell Automation, Inc. has a 52-week low of $215.00 and a 52-week high of $360.92. The stock's 50 day moving average price is $344.60 and its 200 day moving average price is $312.39. 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 (NYSE:ROK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.15. The business 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 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. On average, research analysts anticipate that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Weiss Ratings reiterated a "buy (b-)" rating on shares of Rockwell Automation in a report on Saturday, September 27th. Bank of America upgraded shares of Rockwell Automation from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $360.00 to $410.00 in a research note on Wednesday, July 16th. Citigroup restated a "buy" rating and issued a $392.00 price target (up from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. Stephens reaffirmed an "overweight" rating and set a $375.00 price target (up from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. Finally, Wall Street Zen upgraded Rockwell Automation from a "hold" rating to a "buy" rating in a report on Sunday, September 21st. One research 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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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