Rockwell Automation, Inc. $ROK Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its Rockwell Automation stake by 1% in the second quarter, selling 10,305 shares and retaining 1.04 million shares worth approximately $513.1 million. Institutional investors collectively own 75.75% of the company.
• Rockwell Automation insiders sold 2,711 shares worth about $1.16 million over the past three months. The disclosed transactions by the CFO and a vice president were conducted under Rule 10b5-1 plans to cover tax obligations from vested equity awards.
• The company exceeded quarterly earnings and revenue expectations, reporting $3.49 EPS and $2.31 billion in revenue, while revenue increased 7.9% year over year. Analysts’ consensus rating is “Hold” with a $469.14 price target, and Rockwell has authorized a $1 billion share-repurchase program.

Bank of America Corp DE reduced its stake in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,036,484 shares of the industrial products company's stock after selling 10,305 shares during the period. Bank of America Corp DE owned 0.93% of Rockwell Automation worth $513,142,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Castle Rock Wealth Management LLC lifted its holdings in shares of Rockwell Automation by 2.2% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 1,038 shares of the industrial products company's stock valued at $501,000 after purchasing an additional 22 shares during the last quarter. Richards Merrill & Peterson Inc. boosted its stake in Rockwell Automation by 1.9% during the 1st quarter. Richards Merrill & Peterson Inc. now owns 1,358 shares of the industrial products company's stock worth $487,000 after purchasing an additional 25 shares during the period. Cidel Asset Management Inc. grew its position in Rockwell Automation by 4.6% during the 1st quarter. Cidel Asset Management Inc. now owns 574 shares of the industrial products company's stock worth $206,000 after purchasing an additional 25 shares during the last quarter. HBK Sorce Advisory LLC grew its position in Rockwell Automation by 0.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 3,719 shares of the industrial products company's stock worth $1,544,000 after purchasing an additional 27 shares during the last quarter. Finally, Apella Capital LLC increased its stake in Rockwell Automation by 0.9% in the second quarter. Apella Capital LLC now owns 3,261 shares of the industrial products company's stock valued at $1,529,000 after purchasing an additional 28 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, VP Isaac Woods sold 154 shares of Rockwell Automation stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $432.62, for a total transaction of $66,623.48. Following the completion of the transaction, the vice president directly owned 1,858 shares in the company, valued at $803,807.96. The trade was a 7.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Christian E. Rothe sold 590 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $434.30, for a total value of $256,237.00. Following the sale, the chief financial officer owned 10,429 shares in the company, valued at approximately $4,529,314.70. This trade represents a 5.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 2,711 shares of company stock worth $1,164,880. 0.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ROK has been the subject of several recent research reports. Citigroup decreased their target price on shares of Rockwell Automation from $555.00 to $536.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. Zacks Research cut Rockwell Automation from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 30th. DA Davidson decreased their price objective on Rockwell Automation from $500.00 to $490.00 and set a "neutral" rating for the company in a research report on Friday, August 21st. Weiss Ratings reiterated a "buy (b-)" rating on shares of Rockwell Automation in a research note on Thursday, June 18th. Finally, Robert W. Baird set a $514.00 target price on Rockwell Automation in a report on Wednesday, August 5th. Nine analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $469.14.

Rockwell Automation Trading Down 0.4%

Shares of Rockwell Automation stock opened at $416.99 on Wednesday. The company has a 50-day moving average of $446.32 and a two-hundred day moving average of $429.86. The stock has a market cap of $46.31 billion, a PE ratio of 39.08, a price-to-earnings-growth ratio of 2.44 and a beta of 1.52. The company has a current ratio of 1.08, a quick ratio of 0.74 and a debt-to-equity ratio of 0.74. Rockwell Automation, Inc. has a 12-month low of $332.71 and a 12-month high of $497.36.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.38 by $0.11. Rockwell Automation had a return on equity of 39.83% and a net margin of 13.39%.The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the business posted $2.82 EPS. Rockwell Automation's quarterly revenue was up 7.9% on a year-over-year basis. Rockwell Automation has set its FY 2026 guidance at 13.000-13.300 EPS. On average, research analysts anticipate that Rockwell Automation, Inc. will post 13.23 EPS for the current fiscal year.

Rockwell Automation announced that its board has approved a share repurchase program on Tuesday, June 9th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to buy up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

About Rockwell Automation

Rockwell Automation, Inc NYSE: ROK is a global provider of industrial automation and digital transformation technologies. The company helps manufacturers and other industrial organizations improve productivity, safety, quality and operational efficiency by connecting control systems, equipment, software and data across production environments.

Its portfolio includes programmable logic controllers, industrial computers, sensors, motor control and drives, motion-control systems, safety equipment, human-machine interfaces and industrial networking technologies.

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