Wesbanco Bank Inc. Grows Holdings in Rockwell Automation, Inc. $ROK

Key Points

• Wesbanco Bank Inc. increased its holdings in Rockwell Automation by 13.3%, acquiring an additional 830 shares for a total value of approximately $2.35 million as of the latest SEC filing.
• Several other institutional investors have also increased their stakes in Rockwell Automation, with hedge funds owning 75.75% of the company's stock.
• Rockwell Automation recently reported earnings per share of $2.82, exceeding the consensus estimate of $2.67, and showed a 4.5% year-over-year revenue growth.

Wesbanco Bank Inc. grew its holdings in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 13.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,079 shares of the industrial products company's stock after purchasing an additional 830 shares during the period. Wesbanco Bank Inc.'s holdings in Rockwell Automation were worth $2,351,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp increased its stake in Rockwell Automation by 8.5% in the first quarter. Fifth Third Bancorp now owns 5,424 shares of the industrial products company's stock worth $1,401,000 after purchasing an additional 423 shares during the period. CWM LLC increased its stake in shares of Rockwell Automation by 3.7% during the first quarter. CWM LLC now owns 2,353 shares of the industrial products company's stock valued at $608,000 after buying an additional 84 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Rockwell Automation by 0.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company's stock valued at $1,462,000 after buying an additional 43 shares during the period. Brighton Jones LLC purchased a new position in shares of Rockwell Automation during the fourth quarter valued at $281,000. Finally, J.W. Cole Advisors Inc. increased its stake in shares of Rockwell Automation by 128.7% during the first quarter. J.W. Cole Advisors Inc. now owns 4,382 shares of the industrial products company's stock valued at $1,132,000 after buying an additional 2,466 shares during the period. Hedge funds and other institutional investors own 75.75% of the company's stock.

Insiders Place Their Bets

In other Rockwell Automation news, VP Isaac Woods sold 250 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $350.00, for a total value of $87,500.00. Following the completion of the sale, the vice president owned 1,662 shares of the company's stock, valued at approximately $581,700. This trade represents a 13.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Terry L. Riesterer sold 269 shares of the firm's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $355.26, for a total value of $95,564.94. Following the completion of the sale, the vice president directly owned 1,613 shares of the company's stock, valued at approximately $573,034.38. This represents a 14.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,922 shares of company stock valued at $11,191,812. 0.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ROK has been the topic of several research reports. Stephens restated an "overweight" rating and set a $375.00 price target (up previously from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. Wall Street Zen lowered Rockwell Automation from a "buy" rating to a "hold" rating in a research note on Saturday. CICC Research began coverage on Rockwell Automation in a research report on Monday, July 7th. They set an "outperform" rating and a $381.00 price objective on the stock. Wells Fargo & Company set a $345.00 price objective on Rockwell Automation and gave the company an "equal weight" rating in a research report on Friday, August 8th. Finally, Bank of America raised 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 research report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $340.16.

Rockwell Automation Price Performance

Shares of NYSE ROK opened at $344.97 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.06. The company has a market cap of $38.78 billion, a PE ratio of 40.49, a P/E/G ratio of 3.60 and a beta of 1.41. The business has a 50-day simple moving average of $345.69 and a two-hundred day simple moving average of $304.15. Rockwell Automation, Inc. has a fifty-two week low of $215.00 and a fifty-two week high of $360.92.

Rockwell Automation (NYSE:ROK - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The company's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $2.71 earnings per share. As a group, equities analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

About Rockwell Automation

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.

Want to see what other hedge funds are holding ROK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rockwell Automation, Inc. (NYSE:ROK - Free Report).

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.