Smith Group Asset Management LLC Has $2.54 Million Stake in Rockwell Automation, Inc. $ROK

Key Points

• Smith Group Asset Management LLC increased its stake in Rockwell Automation by 52.9%, owning 7,645 shares valued at $2.54 million at the end of the second quarter.
• Rockwell Automation reported $2.82 earnings per share (EPS) for the last quarter, exceeding estimates, with revenue up 4.5% year-over-year at $2.14 billion.
• Barclays raised its target price for Rockwell Automation shares from $357 to $370, reflecting a positive outlook as analysts rate the stock as a consensus "Moderate Buy."

Smith Group Asset Management LLC boosted its position in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 52.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,645 shares of the industrial products company's stock after buying an additional 2,645 shares during the period. Smith Group Asset Management LLC's holdings in Rockwell Automation were worth $2,539,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Citizens National Bank Trust Department bought a new position in shares of Rockwell Automation in the first quarter worth about $26,000. Financial Gravity Asset Management Inc. bought a new position in shares of Rockwell Automation in the first quarter worth about $31,000. IMA Advisory Services Inc. bought a new position in shares of Rockwell Automation in the first quarter worth about $32,000. Cooksen Wealth LLC bought a new position in shares of Rockwell Automation in the first quarter worth about $34,000. Finally, Legend Financial Advisors Inc. bought a new position in shares of Rockwell Automation in the second quarter worth about $39,000. Institutional investors own 75.75% of the company's stock.

Rockwell Automation Stock Up 1.9%

Rockwell Automation stock opened at $356.97 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.06. Rockwell Automation, Inc. has a 52-week low of $215.00 and a 52-week high of $360.92. The firm has a 50 day moving average price of $345.52 and a two-hundred day moving average price of $320.44. The firm has a market cap of $40.13 billion, a price-to-earnings ratio of 41.90, a PEG ratio of 3.14 and a beta of 1.41.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.15. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the business earned $2.71 EPS. The company's revenue was up 4.5% compared to the same quarter last year. Equities analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Insider Activity

In other Rockwell Automation news, Director James P. Keane sold 3,000 shares of the firm'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 transaction of $1,068,180.00. Following the completion of the transaction, the director owned 9,192 shares in the company, valued at approximately $3,272,903.52. This trade represents a 24.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Blake D. Moret sold 24,400 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was 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 approximately $29,366,453.49. The trade was a 22.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,553 shares of company stock worth $10,361,079 in the last 90 days. 0.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ROK has been the subject of a number of research reports. Barclays increased their target price on shares of Rockwell Automation from $357.00 to $370.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Rockwell Automation in a report on Wednesday, October 8th. Oppenheimer raised their price objective on shares of Rockwell Automation from $363.00 to $365.00 and gave the company an "outperform" rating in a report on Tuesday, October 14th. Stephens reiterated an "overweight" rating and issued a $375.00 price objective (up previously from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. Finally, Bank of America upgraded shares of Rockwell Automation from a "neutral" rating to a "buy" rating and raised their price objective for the company from $360.00 to $410.00 in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Rockwell Automation has a consensus rating of "Moderate Buy" and a consensus price target of $347.94.

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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