NewEdge Advisors LLC Sells 15,877 Shares of Rockwell Automation, Inc. $ROK

Key Points

• NewEdge Advisors LLC has reduced its holdings in Rockwell Automation, Inc. by 45.4%, selling 15,877 shares and leaving them with 19,121 shares valued at approximately $4.94 million by the end of the quarter.
• Several institutional investors have adjusted their stakes in the company, with AQR Capital Management increasing its stake by 75.9% during the same period.
• The company recently posted earnings of $2.82 per share, surpassing analyst expectations, and announced a quarterly dividend of $1.31 to be paid in September.

NewEdge Advisors LLC decreased its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 45.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,121 shares of the industrial products company's stock after selling 15,877 shares during the period. NewEdge Advisors LLC's holdings in Rockwell Automation were worth $4,941,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Integrated Wealth Concepts LLC boosted its stake in shares of Rockwell Automation by 35.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,114 shares of the industrial products company's stock valued at $2,097,000 after purchasing an additional 2,104 shares in the last quarter. Eventide Asset Management LLC purchased a new position in Rockwell Automation during the 1st quarter valued at about $12,970,000. Belmont Capital LLC purchased a new position in Rockwell Automation during the 1st quarter valued at about $269,000. AQR Capital Management LLC lifted its position in Rockwell Automation by 75.9% during the 1st quarter. AQR Capital Management LLC now owns 8,139 shares of the industrial products company's stock valued at $2,059,000 after acquiring an additional 3,513 shares during the period. Finally, Perbak Capital Partners LLP purchased a new position in Rockwell Automation during the 1st quarter valued at about $552,000. Institutional investors own 75.75% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ROK. Bank of America raised shares of Rockwell Automation from a "neutral" rating to a "buy" rating and lifted their price target for the company from $360.00 to $410.00 in a research report on Wednesday, July 16th. Barclays increased their price target on shares of Rockwell Automation from $357.00 to $370.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Citigroup reiterated a "buy" rating and set a $392.00 price target (up previously from $371.00) on shares of Rockwell Automation in a report on Monday, July 14th. Wall Street Zen cut shares of Rockwell Automation from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Oppenheimer cut their price target on shares of Rockwell Automation from $371.00 to $363.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Rockwell Automation presently has a consensus rating of "Moderate Buy" and an average price target of $340.16.

Insider Activity at Rockwell Automation

In related news, SVP Cyril Perducat sold 1,435 shares of the business'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 transaction of $499,494.80. Following the completion of the sale, the senior vice president directly owned 3,787 shares in the company, valued at approximately $1,318,178.96. The trade was a 27.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Terry L. Riesterer sold 269 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $355.26, for a total transaction of $95,564.94. Following the sale, the vice president owned 1,613 shares of the company's stock, valued at $573,034.38. This trade represents a 14.29% 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 valued at $11,191,812 in the last three months. Corporate insiders own 0.68% of the company's stock.

Rockwell Automation Stock Performance

Shares of ROK traded down $5.57 during mid-day trading on Friday, hitting $344.97. 545,729 shares of the company traded hands, compared to its average volume of 741,584. 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 moving average price of $345.69 and a two-hundred day moving average price of $304.15. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $360.92. The stock has a market cap of $38.78 billion, a price-to-earnings ratio of 40.49, a P/E/G ratio of 3.60 and a beta of 1.41.

Rockwell Automation (NYSE:ROK - Get Free Report) last released 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 firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The firm's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.71 earnings per share. Equities analysts anticipate 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.