PFG Investments LLC Acquires 1,399 Shares of Rockwell Automation, Inc. $ROK

Key Points

• PFG Investments LLC increased its stake in Rockwell Automation by 71.2% during Q2, acquiring an additional 1,399 shares, bringing its total holdings to 3,364 shares valued at approximately $1,118,000.
• Wall Street analysts have shown positive sentiment towards Rockwell Automation, with Bank of America upgrading it from "neutral" to "buy" and raising the target price from $360 to $410.
• Insider trading activities included significant sales, with VP Terry L. Riesterer selling 2,100 shares and Director James P. Keane selling 3,000 shares, indicating a 24.61% decrease in their ownership stakes.

PFG Investments LLC lifted its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 71.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,364 shares of the industrial products company's stock after buying an additional 1,399 shares during the quarter. PFG Investments LLC's holdings in Rockwell Automation were worth $1,118,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ROK. Citizens National Bank Trust Department purchased a new stake in Rockwell Automation in the first quarter worth about $26,000. Legend Financial Advisors Inc. purchased a new position in shares of Rockwell Automation during the second quarter valued at approximately $39,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Rockwell Automation in the 1st quarter worth approximately $31,000. IMA Advisory Services Inc. purchased a new stake in shares of Rockwell Automation in the 1st quarter worth approximately $32,000. Finally, Cooksen Wealth LLC bought a new position in Rockwell Automation during the 1st quarter valued at approximately $34,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Bank of America raised 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 report on Wednesday, July 16th. Wells Fargo & Company set a $345.00 price target on shares of Rockwell Automation and gave the stock an "equal weight" rating in a research note on Friday, August 8th. CICC Research assumed coverage on shares of Rockwell Automation in a research report on Monday, July 7th. They set an "outperform" rating and a $381.00 price objective on the stock. KeyCorp lifted their target price on shares of Rockwell Automation from $370.00 to $380.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. 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 research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Rockwell Automation currently has an average rating of "Moderate Buy" and an average target price of $340.16.

Rockwell Automation Stock Performance

Shares of ROK stock opened at $348.66 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average price of $344.80 and a 200-day moving average price of $311.02. Rockwell Automation, Inc. has a 52 week low of $215.00 and a 52 week high of $360.92. The firm has a market capitalization of $39.20 billion, a PE ratio of 40.92, a P/E/G ratio of 3.14 and a beta of 1.41.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, beating analysts' consensus estimates of $2.67 by $0.15. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the firm earned $2.71 earnings per share. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities research analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Terry L. Riesterer sold 2,100 shares of Rockwell Automation stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $350.08, for a total transaction of $735,168.00. Following the transaction, the vice president directly owned 1,033 shares in the company, valued at approximately $361,632.64. The trade was a 67.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James P. Keane sold 3,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $356.06, for a total value of $1,068,180.00. Following the sale, the director directly owned 9,192 shares of the company's stock, valued at $3,272,903.52. This represents a 24.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,922 shares of company stock valued at $11,191,812 in the last 90 days. 0.68% of the stock is owned by 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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