S Bank Fund Management Ltd Has $3.64 Million Stock Holdings in Rockwell Automation, Inc. $ROK

Key Points

• S Bank Fund Management Ltd reduced its holdings in Rockwell Automation, Inc. by 47.2% in the second quarter, resulting in a total value of $3.64 million from 10,946 shares.
• Institutional investors currently own 75.75% of Rockwell Automation's stock, reflecting significant interest from hedge funds.
• Analysts are optimistic about Rockwell Automation, with several upgrading price targets, now set between $343.84 and $410.00, indicating a consensus rating of "Moderate Buy."

S Bank Fund Management Ltd cut its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 47.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,946 shares of the industrial products company's stock after selling 9,775 shares during the period. S Bank Fund Management Ltd's holdings in Rockwell Automation were worth $3,636,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Howe & Rusling Inc. boosted its holdings in shares of Rockwell Automation by 4.9% in the 1st quarter. Howe & Rusling Inc. now owns 794 shares of the industrial products company's stock worth $205,000 after buying an additional 37 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Rockwell Automation by 2.7% in the 2nd quarter. IFP Advisors Inc now owns 1,427 shares of the industrial products company's stock worth $476,000 after buying an additional 37 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Rockwell Automation by 0.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company's stock worth $1,462,000 after buying an additional 43 shares during the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of Rockwell Automation by 0.6% in the 1st quarter. Wealthfront Advisers LLC now owns 7,708 shares of the industrial products company's stock worth $1,992,000 after buying an additional 43 shares during the last quarter. Finally, Koshinski Asset Management Inc. lifted its holdings in Rockwell Automation by 1.1% during the first quarter. Koshinski Asset Management Inc. now owns 4,097 shares of the industrial products company's stock valued at $1,059,000 after purchasing an additional 46 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ROK shares. CICC Research started coverage on shares of Rockwell Automation in a report on Monday, July 7th. They set an "outperform" rating and a $381.00 price objective on the stock. Wells Fargo & Company upped their price objective on shares of Rockwell Automation from $345.00 to $355.00 and gave the company an "equal weight" rating in a report on Monday, October 6th. Bank of America raised shares of Rockwell Automation from a "neutral" rating to a "buy" rating and upped their price objective for the company from $360.00 to $410.00 in a report on Wednesday, July 16th. Stephens reaffirmed an "overweight" rating and set a $375.00 price objective (up from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. Finally, Wall Street Zen raised shares of Rockwell Automation from a "hold" rating to a "buy" rating in a report on Sunday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $343.84.

Rockwell Automation Stock Up 2.1%

ROK stock opened at $351.23 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. The company's 50 day moving average is $343.99 and its 200 day moving average is $316.05. The stock has a market cap of $39.49 billion, a price-to-earnings ratio of 41.22, a price-to-earnings-growth ratio of 3.09 and a beta of 1.41. 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 posted its quarterly earnings data 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 analysts' expectations of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. Rockwell Automation's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.71 earnings per share. Sell-side analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Insider Activity at Rockwell Automation

In related news, Director James P. Keane sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $356.06, for a total value of $1,068,180.00. Following the transaction, the director directly owned 9,192 shares in the company, valued at approximately $3,272,903.52. This represents a 24.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Cyril Perducat sold 1,435 shares of the company's stock in a transaction that occurred on 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 owned 3,787 shares in the company, valued at approximately $1,318,178.96. This trade represents a 27.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,553 shares of company stock valued at $10,361,079 in the last ninety days. 0.68% of the stock is currently owned by company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.