Rockwell Automation, Inc. $ROK Shares Sold by Rockland Trust Co.

Key Points

• Rockland Trust Co. reduced its stake in Rockwell Automation, Inc. by 8.9% in Q2, holding 26,572 shares valued at approximately $8.83 million.
• Several hedge funds have dramatically increased their investments in Rockwell Automation, with GAMMA Investing LLC raising its stake by over 29,000% during the same period.
• Analysts have varying price targets for Rockwell Automation's stock, with Citigroup setting a target of $392 and Bank of America lifting their target to $410.

Rockland Trust Co. decreased its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 8.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 26,572 shares of the industrial products company's stock after selling 2,589 shares during the period. Rockland Trust Co.'s holdings in Rockwell Automation were worth $8,826,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Citizens National Bank Trust Department acquired a new position in Rockwell Automation during the first quarter worth approximately $26,000. Financial Gravity Asset Management Inc. acquired a new position in Rockwell Automation during the first quarter worth approximately $31,000. IMA Advisory Services Inc. acquired a new position in Rockwell Automation during the first quarter worth approximately $32,000. Cooksen Wealth LLC acquired a new position in Rockwell Automation during the first quarter worth approximately $34,000. Finally, Cary Street Partners Investment Advisory LLC increased its position in Rockwell Automation by 59.6% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 166 shares of the industrial products company's stock worth $43,000 after purchasing an additional 62 shares during 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 several research analyst reports. Stephens reaffirmed an "overweight" rating and set a $375.00 price target (up previously from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. CICC Research initiated coverage on shares of Rockwell Automation in a research report on Monday, July 7th. They set an "outperform" rating and a $381.00 price target for the company. 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 report on Friday, August 8th. KeyCorp increased their price objective on shares of Rockwell Automation from $370.00 to $380.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Citigroup reissued a "buy" rating and issued a $392.00 price objective (up previously from $371.00) on shares of Rockwell Automation in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $340.16.

Rockwell Automation Trading Down 0.2%

Shares of Rockwell Automation stock traded down $0.78 during trading hours on Friday, hitting $347.78. The company's stock had a trading volume of 1,045,572 shares, compared to its average volume of 738,820. The company has a market capitalization of $39.10 billion, a PE ratio of 40.82, a P/E/G ratio of 3.64 and a beta of 1.41. The business has a fifty day moving average of $346.16 and a 200 day moving average of $306.13. 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, Inc. has a 1-year low of $215.00 and a 1-year high of $360.92.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its 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. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. 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 earned $2.71 earnings per share. As a group, equities analysts forecast that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Insiders Place Their Bets

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

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.