Robertson Stephens Wealth Management LLC Makes New Investment in Rockwell Automation, Inc. $ROK

Key Points

• Robertson Stephens Wealth Management LLC recently acquired 1,170 shares of Rockwell Automation, valued at approximately $389,000, during the second quarter.
• Insider trading revealed that CEO Blake D. Moret sold 24,400 shares of the company for over $8.5 million, reducing his ownership by 22.54%.
• Several brokerages have upgraded Rockwell Automation's stock ratings, with Barclays and Bank of America raising their price targets to $370.00 and $410.00 respectively.

Robertson Stephens Wealth Management LLC acquired a new position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,170 shares of the industrial products company's stock, valued at approximately $389,000.

Several other large investors have also recently bought and sold shares of ROK. Robeco Institutional Asset Management B.V. lifted its holdings in Rockwell Automation by 720.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 399,309 shares of the industrial products company's stock worth $132,638,000 after buying an additional 350,662 shares in the last quarter. Great Lakes Advisors LLC acquired a new position in Rockwell Automation during the 1st quarter worth $73,908,000. Nuveen LLC acquired a new position in Rockwell Automation during the 1st quarter worth $63,632,000. Raymond James Financial Inc. lifted its holdings in Rockwell Automation by 213.7% during the 1st quarter. Raymond James Financial Inc. now owns 357,080 shares of the industrial products company's stock worth $92,263,000 after buying an additional 243,249 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Rockwell Automation by 1,950.4% in the second quarter. Assenagon Asset Management S.A. now owns 202,788 shares of the industrial products company's stock valued at $67,360,000 after buying an additional 192,898 shares during the period. Institutional investors and hedge funds own 75.75% of the company's stock.

Insider Buying and Selling at Rockwell Automation

In related news, CEO Blake D. Moret sold 24,400 shares of the firm's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $350.13, for a total transaction 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 trade represents a 22.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James P. Keane sold 3,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $356.06, for a total transaction of $1,068,180.00. Following the sale, the director owned 9,192 shares in the company, 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. Insiders sold a total of 31,922 shares of company stock valued at $11,191,812 over the last quarter. 0.68% of the stock is currently owned by corporate insiders.

Rockwell Automation Trading Down 2.6%

ROK opened at $333.79 on Friday. The firm's fifty day moving average is $343.79 and its two-hundred day moving average is $314.72. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.06. The firm has a market cap of $37.53 billion, a PE ratio of 39.18, a price-to-earnings-growth ratio of 2.98 and a beta of 1.41. Rockwell Automation, Inc. has a twelve month low of $215.00 and a twelve month high of $360.92.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted 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 company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $2.71 earnings per share. Equities research analysts anticipate that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ROK. Barclays increased their price objective on shares of Rockwell Automation from $357.00 to $370.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Bank of America upgraded shares of Rockwell Automation from a "neutral" rating to a "buy" rating and increased their price objective for the company from $360.00 to $410.00 in a report on Wednesday, July 16th. Citigroup restated a "buy" rating on shares of Rockwell Automation in a report on Thursday. Stephens restated an "overweight" rating and issued a $375.00 price objective (up from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. Finally, KeyCorp increased their price objective on shares of Rockwell Automation from $370.00 to $380.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. 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 given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $340.68.

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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