Puzo Michael J Cuts Position in Rockwell Automation, Inc. $ROK

Key Points

• Puzo Michael J has reduced its position in Rockwell Automation, Inc. by 16.3%, now holding 27,961 shares valued at approximately $9.29 million.
• Analysts have issued mixed ratings for Rockwell Automation, with one analyst rating it a Strong Buy, while others hold various ratings including Buy and Hold with price targets ranging from $363.00 to $392.00.
• Corporate insiders have sold a total of 31,922 shares worth over $11 million in the last quarter, indicating significant insider selling activity.

Puzo Michael J trimmed its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 16.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,961 shares of the industrial products company's stock after selling 5,432 shares during the period. Rockwell Automation makes up about 2.6% of Puzo Michael J's holdings, making the stock its 19th largest holding. Puzo Michael J's holdings in Rockwell Automation were worth $9,288,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Brighton Jones LLC purchased a new stake in shares of Rockwell Automation in the 4th quarter valued at $281,000. Wedmont Private Capital raised its holdings in shares of Rockwell Automation by 1.8% in the 1st quarter. Wedmont Private Capital now owns 3,174 shares of the industrial products company's stock valued at $820,000 after buying an additional 55 shares during the period. Capital Investment Advisors LLC raised its holdings in shares of Rockwell Automation by 7.4% in the 1st quarter. Capital Investment Advisors LLC now owns 2,073 shares of the industrial products company's stock valued at $536,000 after buying an additional 142 shares during the period. First Citizens Bank & Trust Co. raised its holdings in shares of Rockwell Automation by 2.4% in the 1st quarter. First Citizens Bank & Trust Co. now owns 2,200 shares of the industrial products company's stock valued at $568,000 after buying an additional 51 shares during the period. Finally, Wesbanco Bank Inc. raised its holdings in shares of Rockwell Automation by 4.7% in the 1st quarter. Wesbanco Bank Inc. now owns 6,249 shares of the industrial products company's stock valued at $1,615,000 after buying an additional 279 shares during the period. 75.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on ROK. KeyCorp boosted their price objective on Rockwell Automation from $370.00 to $380.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. CICC Research began coverage on Rockwell Automation in a report on Monday, July 7th. They issued an "outperform" rating and a $381.00 price objective on the stock. Oppenheimer cut their price objective on Rockwell Automation from $371.00 to $363.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. Citigroup reiterated a "buy" rating and issued a $392.00 price objective (up previously from $371.00) on shares of Rockwell Automation in a report on Monday, July 14th. Finally, Stephens restated an "overweight" rating and set a $375.00 price target (up previously from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $340.68.

Insider Buying and Selling at Rockwell Automation

In other news, SVP Cyril Perducat sold 1,435 shares of the company's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $348.08, for a total transaction of $499,494.80. Following the completion of the transaction, the senior vice president directly owned 3,787 shares of the company's stock, valued at approximately $1,318,178.96. This represents a 27.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Terry L. Riesterer sold 2,100 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $361,632.64. This represents a 67.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,922 shares of company stock worth $11,191,812. Corporate insiders own 0.68% of the company's stock.

Rockwell Automation Price Performance

Shares of NYSE ROK opened at $344.16 on Wednesday. The stock's 50-day moving average is $344.26 and its two-hundred day moving average is $313.23. 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, Inc. has a 1-year low of $215.00 and a 1-year high of $360.92. The company has a market cap of $38.69 billion, a price-to-earnings ratio of 40.39, a price-to-earnings-growth ratio of 3.10 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 (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.15. The business had revenue of $2.14 billion during 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 quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.71 EPS. Analysts forecast 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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