Integrated Wealth Concepts LLC Boosts Stake in Rockwell Automation, Inc. $ROK

Key Points

• Integrated Wealth Concepts LLC increased its holdings in Rockwell Automation by 35.0% during the 1st quarter, owning 8,114 shares valued at approximately $2.1 million.
• Rockwell Automation's stock price rose by 3.5%, reaching $351.17 amid strong trading activity, with a market capitalization of $39.48 billion.
• In its most recent earnings report, Rockwell Automation reported an EPS of $2.82, exceeding analyst expectations and showing 4.5% year-over-year revenue growth.

Integrated Wealth Concepts LLC grew its stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 35.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,114 shares of the industrial products company's stock after acquiring an additional 2,104 shares during the period. Integrated Wealth Concepts LLC's holdings in Rockwell Automation were worth $2,097,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Eventide Asset Management LLC bought a new position in Rockwell Automation in the 1st quarter worth about $12,970,000. Belmont Capital LLC bought a new position in Rockwell Automation in the 1st quarter worth about $269,000. AQR Capital Management LLC boosted its stake in shares of Rockwell Automation by 75.9% during the first quarter. AQR Capital Management LLC now owns 8,139 shares of the industrial products company's stock valued at $2,059,000 after purchasing an additional 3,513 shares in the last quarter. Perbak Capital Partners LLP bought a new position in shares of Rockwell Automation during the first quarter valued at approximately $552,000. Finally, EP Wealth Advisors LLC boosted its stake in shares of Rockwell Automation by 1.7% during the first quarter. EP Wealth Advisors LLC now owns 90,516 shares of the industrial products company's stock valued at $23,387,000 after purchasing an additional 1,471 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on ROK. Barclays increased their price objective on shares of Rockwell Automation from $357.00 to $370.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Citigroup reiterated a "buy" rating and set a $392.00 price objective (up from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. Wall Street Zen downgraded shares of Rockwell Automation from a "buy" rating to a "hold" rating in a research note on Saturday. Stephens reiterated an "overweight" rating and set a $375.00 price objective (up from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. Finally, CICC Research began coverage on shares of Rockwell Automation in a research note on Monday, July 7th. They set an "outperform" rating and a $381.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Rockwell Automation has a consensus rating of "Moderate Buy" and an average price target of $340.16.

Insider Buying and Selling

In other Rockwell Automation news, VP Terry L. Riesterer sold 269 shares of the firm's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $355.26, for a total value of $95,564.94. Following the completion of the transaction, the vice president owned 1,613 shares of the company's stock, valued at approximately $573,034.38. This trade represents a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James P. Keane sold 3,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was 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 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 31,922 shares of company stock valued at $11,191,812 over the last quarter. Insiders own 0.68% of the company's stock.

Rockwell Automation Stock Down 1.6%

ROK traded down $5.57 during trading on Friday, hitting $344.97. The stock had a trading volume of 545,729 shares, compared to its average volume of 741,584. The company has a market capitalization of $38.78 billion, a PE ratio of 40.49, a PEG ratio of 3.60 and a beta of 1.41. Rockwell Automation, Inc. has a twelve month low of $215.00 and a twelve month high of $360.92. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.06. The stock has a 50 day simple moving average of $345.69 and a two-hundred day simple moving average of $304.15.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its earnings results 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 company had revenue of $2.14 billion during 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 revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $2.71 earnings per share. On average, research analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

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.