Simplicity Wealth LLC Acquires 1,533 Shares of Rockwell Automation, Inc. $ROK

Key Points

• Simplicity Wealth LLC increased its holdings in Rockwell Automation by 173.8%, acquiring an additional 1,533 shares during the 2nd quarter, bringing its total ownership to 2,415 shares valued at $802,000.
• Several large investors, including Chemung Canal Trust Co. and Wealthcare Advisory Partners LLC, also initiated new positions or increased their stakes in Rockwell Automation in the same quarter.
• Rockwell Automation's stock has a consensus rating of "Moderate Buy" with a price target ranging from $340.68 to $410.00 based on recent analyst reports.

Simplicity Wealth LLC boosted its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 173.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,415 shares of the industrial products company's stock after acquiring an additional 1,533 shares during the quarter. Simplicity Wealth LLC's holdings in Rockwell Automation were worth $802,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Chemung Canal Trust Co. bought a new position in shares of Rockwell Automation during the 2nd quarter worth approximately $210,000. Wealthcare Advisory Partners LLC bought a new position in shares of Rockwell Automation during the 2nd quarter worth approximately $379,000. Talbot Financial LLC lifted its position in shares of Rockwell Automation by 16.3% during the 2nd quarter. Talbot Financial LLC now owns 29,908 shares of the industrial products company's stock worth $9,935,000 after buying an additional 4,193 shares in the last quarter. Clarius Group LLC lifted its position in shares of Rockwell Automation by 13.7% during the 2nd quarter. Clarius Group LLC now owns 1,347 shares of the industrial products company's stock worth $447,000 after buying an additional 162 shares in the last quarter. Finally, Accel Wealth Management bought a new position in shares of Rockwell Automation during the 2nd quarter worth approximately $229,000. Institutional investors own 75.75% of the company's stock.

Analyst Upgrades and Downgrades

ROK has been the topic of several recent analyst reports. 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 target price on the stock. Barclays lifted their target price on shares of Rockwell Automation from $357.00 to $370.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. KeyCorp lifted their price target on shares of Rockwell Automation from $370.00 to $380.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Bank of America raised shares of Rockwell Automation from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $360.00 to $410.00 in a report on Wednesday, July 16th. Finally, Oppenheimer lowered their price target on shares of Rockwell Automation from $371.00 to $363.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $340.68.

Rockwell Automation Stock Down 1.3%

Rockwell Automation stock opened at $344.16 on Wednesday. Rockwell Automation, Inc. has a 1-year low of $215.00 and a 1-year high of $360.92. The firm has a market capitalization of $38.69 billion, a price-to-earnings ratio of 40.39, a P/E/G ratio of 3.10 and a beta of 1.41. 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 firm has a 50 day simple moving average of $344.26 and a 200 day simple moving average of $313.23.

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 for the quarter, beating analysts' consensus estimates of $2.67 by $0.15. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the business earned $2.71 EPS. Rockwell Automation's revenue was up 4.5% compared to the same quarter last year. On average, analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Isaac Woods sold 365 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $348.44, for a total transaction of $127,180.60. Following the completion of the transaction, the vice president directly owned 1,691 shares in the company, valued at $589,212.04. The trade was a 17.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Blake D. Moret sold 24,400 shares of the business'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 transaction, the chief executive officer owned 83,873 shares of the company's stock, valued at $29,366,453.49. This trade represents a 22.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,922 shares of company stock worth $11,191,812 in the last three months. Insiders own 0.68% of the company's stock.

Rockwell Automation Company 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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