Praxis Investment Management Inc. Buys 760 Shares of Rockwell Automation, Inc. $ROK

Key Points

• Praxis Investment Management Inc. increased its stake in Rockwell Automation by 7.0%, acquiring an additional 760 shares, bringing its total holdings to 11,678 shares valued at approximately $3.88 million.
• Multiple hedge funds, including Howe & Rusling Inc. and IFP Advisors Inc., have also raised their holdings in Rockwell Automation, reflecting significant institutional interest in the company.
• Analysts have issued various ratings for Rockwell Automation, with a consensus rating of "Moderate Buy" and a price target of $347.94, indicating positive market expectations for the stock.

Praxis Investment Management Inc. boosted its stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 7.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,678 shares of the industrial products company's stock after purchasing an additional 760 shares during the quarter. Praxis Investment Management Inc.'s holdings in Rockwell Automation were worth $3,879,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Howe & Rusling Inc. raised its holdings in shares of Rockwell Automation by 4.9% in the 1st 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 in the last quarter. IFP Advisors Inc raised its stake in Rockwell Automation by 2.7% in the second quarter. IFP Advisors Inc now owns 1,427 shares of the industrial products company's stock worth $476,000 after buying an additional 37 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Rockwell Automation by 0.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company's stock worth $1,462,000 after buying an additional 43 shares in the last quarter. Wealthfront Advisers LLC raised its stake in Rockwell Automation by 0.6% in 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. Finally, Koshinski Asset Management Inc. raised its position 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 worth $1,059,000 after acquiring an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company's stock.

Analyst Ratings Changes

ROK has been the subject of a number of recent research reports. Stephens reiterated an "overweight" rating and issued a $375.00 target price (up from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. KeyCorp boosted their price objective on shares of Rockwell Automation from $370.00 to $380.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Citigroup reaffirmed a "buy" rating on shares of Rockwell Automation in a research report on Thursday, October 9th. Oppenheimer upped their price target on Rockwell Automation from $363.00 to $365.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Rockwell Automation in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $347.94.

Insider Buying and Selling at Rockwell Automation

In other news, SVP Cyril Perducat sold 1,435 shares of the stock in a transaction 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Blake D. Moret sold 24,400 shares of the stock in a transaction dated Thursday, September 11th. The stock was 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 in the company, valued at $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 have sold a total of 29,553 shares of company stock worth $10,361,079 in the last 90 days. Corporate insiders own 0.68% of the company's stock.

Rockwell Automation Price Performance

NYSE ROK opened at $347.79 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72. The stock's fifty day moving average price is $344.29 and its 200 day moving average price is $316.66. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $360.92. The company has a market cap of $39.10 billion, a price-to-earnings ratio of 40.82, a PEG ratio of 3.17 and a beta of 1.41.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced 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. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company earned $2.71 earnings per share. As a group, equities research analysts forecast that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation 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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