Notis McConarty Edward Trims Stake in Rockwell Automation, Inc. $ROK

Key Points

• Notis McConarty Edward reduced its stake in Rockwell Automation by 7.4%, selling 1,372 shares during the second quarter, leaving it with 17,153 shares valued at approximately $5.7 million.
• Insider sales at Rockwell Automation saw VP Terry L. Riesterer and SVP Cyril Perducat sell over 3,500 shares collectively, indicating a significant decrease in their ownership in the company.
• Analysts have set new price targets for Rockwell Automation, with Citigroup raising its target to $392 and other firms like Barclays and KeyCorp also increasing their target prices, reflecting a positive outlook on the stock.

Notis McConarty Edward reduced its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 7.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,153 shares of the industrial products company's stock after selling 1,372 shares during the quarter. Rockwell Automation comprises about 2.8% of Notis McConarty Edward's portfolio, making the stock its 14th biggest position. Notis McConarty Edward's holdings in Rockwell Automation were worth $5,698,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Howe & Rusling Inc. raised its stake in shares of Rockwell Automation by 4.9% during the 1st quarter. Howe & Rusling Inc. now owns 794 shares of the industrial products company's stock valued at $205,000 after buying an additional 37 shares during the last quarter. Allspring Global Investments Holdings LLC increased 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 purchasing an additional 43 shares in the last quarter. Wealthfront Advisers LLC increased its stake in shares of Rockwell Automation by 0.6% in the 1st quarter. Wealthfront Advisers LLC now owns 7,708 shares of the industrial products company's stock valued at $1,992,000 after purchasing an additional 43 shares in the last quarter. Kelly Financial Services LLC increased its stake in shares of Rockwell Automation by 4.4% in the 1st quarter. Kelly Financial Services LLC now owns 1,096 shares of the industrial products company's stock valued at $283,000 after purchasing an additional 46 shares in the last quarter. Finally, Koshinski Asset Management Inc. increased its stake in shares of Rockwell Automation by 1.1% in the 1st quarter. Koshinski Asset Management Inc. now owns 4,097 shares of the industrial products company's stock valued at $1,059,000 after purchasing an additional 46 shares in the last quarter. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rockwell Automation

In related news, VP Terry L. Riesterer sold 2,100 shares of the company's 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Cyril Perducat sold 1,435 shares of the company'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 transaction, the senior vice president owned 3,787 shares in the company, valued at $1,318,178.96. This represents a 27.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,922 shares of company stock worth $11,191,812. 0.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ROK shares. Weiss Ratings restated a "buy (b-)" rating on shares of Rockwell Automation in a research note on Wednesday. Citigroup restated a "buy" rating and issued a $392.00 price target (up previously from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. Stephens restated an "overweight" rating and issued a $375.00 price target (up previously from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. Barclays lifted their price target on Rockwell Automation from $357.00 to $370.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Finally, KeyCorp lifted their price objective on Rockwell Automation from $370.00 to $380.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Rockwell Automation presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.68.

Rockwell Automation Trading Up 1.0%

Shares of Rockwell Automation stock opened at $347.73 on Thursday. The stock has a market cap of $39.10 billion, a P/E ratio of 40.81, a P/E/G ratio of 3.06 and a beta of 1.41. The stock's 50 day simple moving average is $344.19 and its 200-day simple moving average is $313.47. Rockwell Automation, Inc. has a 1-year low of $215.00 and a 1-year high of $360.92. 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 issued its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.15. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.07 billion. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.71 EPS. Analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

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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