Voya Investment Management LLC Reduces Stake in Rockwell Automation, Inc. $ROK

Key Points

• Voya Investment Management LLC significantly reduced its stake in Rockwell Automation by 68.7% in Q1, selling 643,199 shares and currently holding 292,527 shares valued at approximately $75.58 million.
• Insider transactions included CEO Blake D. Moret selling 24,400 shares for over $8.54 million, resulting in a 22.54% decrease in his position.
• Several analysts have set new price targets for Rockwell Automation, with a consensus average target of $340.16, while the stock remains volatile, closing at $344.97 recently.

Voya Investment Management LLC lowered its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 68.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 292,527 shares of the industrial products company's stock after selling 643,199 shares during the quarter. Voya Investment Management LLC owned approximately 0.26% of Rockwell Automation worth $75,583,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Howe & Rusling Inc. lifted its holdings in 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 period. Bank Pictet & Cie Europe AG lifted its stake in shares of Rockwell Automation by 0.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 4,195 shares of the industrial products company's stock valued at $1,199,000 after purchasing an additional 38 shares during the period. Allspring Global Investments Holdings LLC lifted its stake 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 valued at $1,462,000 after purchasing an additional 43 shares during the period. Wealthfront Advisers LLC lifted its stake 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 valued at $1,992,000 after purchasing an additional 43 shares during the period. Finally, Kelly Financial Services LLC lifted its stake in shares of Rockwell Automation by 4.4% in the 1st quarter. Kelly Financial Services LLC now owns 1,096 shares of the industrial products company's stock valued at $283,000 after purchasing an additional 46 shares during the period. Hedge funds and other institutional investors own 75.75% of the company's stock.

Insider Activity at Rockwell Automation

In related news, 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 completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Isaac Woods sold 365 shares of the business's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $348.44, for a total value of $127,180.60. Following the completion of the transaction, the vice president owned 1,691 shares of the company's stock, valued at $589,212.04. This represents a 17.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,922 shares of company stock worth $11,191,812 over the last quarter. 0.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on ROK shares. Stephens restated an "overweight" rating and issued a $375.00 target price (up previously from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. Wells Fargo & Company set a $345.00 target price on Rockwell Automation and gave the company an "equal weight" rating in a research note on Friday, August 8th. Wall Street Zen cut Rockwell Automation from a "buy" rating to a "hold" rating in a research note on Saturday. Citigroup restated a "buy" rating and issued a $392.00 target price (up previously from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. Finally, JPMorgan Chase & Co. raised their target price on Rockwell Automation from $271.00 to $299.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $340.16.

Rockwell Automation Stock Down 1.6%

ROK stock opened at $344.97 on Friday. Rockwell Automation, Inc. has a twelve month low of $215.00 and a twelve month high of $360.92. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.72. The firm has a market cap of $38.79 billion, a PE ratio of 40.49, a price-to-earnings-growth ratio of 3.66 and a beta of 1.41. The business has a 50 day moving average of $345.69 and a 200 day moving average of $303.90.

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, beating analysts' consensus estimates of $2.67 by $0.15. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the company earned $2.71 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts forecast that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

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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