Prime Capital Investment Advisors LLC Has $6.73 Million Stock Holdings in Rockwell Automation, Inc. $ROK

Key Points

• Prime Capital Investment Advisors LLC decreased its holdings in Rockwell Automation by 19.3%, now owning 20,264 shares valued at $6.73 million.
• Rockwell Automation reported quarterly earnings of $2.82 per share, surpassing expectations and showing a 4.5% year-over-year increase in revenue.
• Insider trading activity shows significant sales, including CEO Blake D. Moret selling 24,400 shares for over $8.5 million, reflecting a substantial decrease in their ownership stake.

Prime Capital Investment Advisors LLC decreased its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 19.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,264 shares of the industrial products company's stock after selling 4,849 shares during the period. Prime Capital Investment Advisors LLC's holdings in Rockwell Automation were worth $6,731,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ROK. Brighton Jones LLC acquired a new position in Rockwell Automation during the fourth quarter worth about $281,000. NBC Securities Inc. acquired a new stake in shares of Rockwell Automation in the 1st quarter valued at approximately $216,000. Wedmont Private Capital grew its holdings in shares of Rockwell Automation by 1.8% during the 1st quarter. Wedmont Private Capital now owns 3,174 shares of the industrial products company's stock valued at $820,000 after purchasing an additional 55 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Rockwell Automation by 12.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 900 shares of the industrial products company's stock worth $232,000 after purchasing an additional 100 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its position in Rockwell Automation by 7.4% during the 1st quarter. Capital Investment Advisors LLC now owns 2,073 shares of the industrial products company's stock worth $536,000 after purchasing an additional 142 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Stock Down 0.2%

Shares of NYSE:ROK opened at $348.69 on Tuesday. The firm has a market cap of $39.20 billion, a P/E ratio of 40.93, a P/E/G ratio of 3.10 and a beta of 1.41. Rockwell Automation, Inc. has a 12-month low of $215.00 and a 12-month high of $360.92. The business has a fifty day simple moving average of $344.46 and a 200 day simple moving average of $313.01. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.72.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly 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. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The company had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.07 billion. During the same quarter in the prior year, the firm posted $2.71 earnings per share. The business's quarterly revenue was up 4.5% on a year-over-year basis. Analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Analyst Ratings Changes

ROK has been the topic of a number of research reports. KeyCorp boosted their target price 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. Wells Fargo & Company raised their price objective on Rockwell Automation from $345.00 to $355.00 and gave the company an "equal weight" rating in a report on Monday. Wall Street Zen upgraded Rockwell Automation from a "hold" rating to a "buy" rating in a research report on Sunday, September 21st. CICC Research started coverage on Rockwell Automation in a report on Monday, July 7th. They issued an "outperform" rating and a $381.00 target price for the company. Finally, Bank of America raised 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 note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $340.68.

Insider Activity

In other Rockwell Automation news, 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 transaction of $8,543,172.00. Following the completion of the sale, the chief executive officer directly owned 83,873 shares in the company, valued at approximately $29,366,453.49. This trade represents a 22.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James P. Keane sold 3,000 shares of Rockwell Automation stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $356.06, for a total value of $1,068,180.00. Following the completion of the sale, the director owned 9,192 shares of the company's stock, valued at approximately $3,272,903.52. The trade was a 24.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,922 shares of company stock worth $11,191,812. 0.68% of the stock is owned by insiders.

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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