WESPAC Advisors SoCal LLC Acquires Shares of 3,303 Rockwell Automation, Inc. $ROK

Key Points

• WESPAC Advisors SoCal LLC has acquired a stake in Rockwell Automation, purchasing 3,303 shares valued at approximately $1,097,000 in the second quarter.
• Rockwell Automation has reported better-than-expected quarterly earnings, with $2.82 EPS beating estimates by $0.15 and a 4.5% increase in revenue year-over-year.
• The company’s shares have reached a current trading price of $352.93, amid a favorable market outlook with various analysts issuing "buy" ratings and a consensus target price of $347.94.

WESPAC Advisors SoCal LLC acquired a new stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,303 shares of the industrial products company's stock, valued at approximately $1,097,000.

A number of other large investors have also recently made changes to their positions in the stock. Howe & Rusling Inc. grew its stake in shares of Rockwell Automation by 4.9% in the first quarter. Howe & Rusling Inc. now owns 794 shares of the industrial products company's stock worth $205,000 after acquiring an additional 37 shares during the period. IFP Advisors Inc grew its stake in shares of Rockwell Automation by 2.7% in the second quarter. IFP Advisors Inc now owns 1,427 shares of the industrial products company's stock worth $476,000 after acquiring an additional 37 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Rockwell Automation by 0.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company's stock worth $1,462,000 after acquiring an additional 43 shares during the period. Wealthfront Advisers LLC grew its stake in shares of Rockwell Automation by 0.6% in the first quarter. Wealthfront Advisers LLC now owns 7,708 shares of the industrial products company's stock worth $1,992,000 after acquiring an additional 43 shares during the period. Finally, Koshinski Asset Management Inc. grew its stake in shares of Rockwell Automation by 1.1% in the first quarter. Koshinski Asset Management Inc. now owns 4,097 shares of the industrial products company's stock worth $1,059,000 after acquiring an additional 46 shares during the period. 75.75% of the stock is currently owned by institutional investors.

Rockwell Automation Trading Up 1.5%

Shares of ROK opened at $352.93 on Tuesday. The company's fifty day moving average is $345.02 and its 200 day moving average is $319.09. Rockwell Automation, Inc. has a fifty-two week low of $215.00 and a fifty-two week high of $360.92. The stock has a market capitalization of $39.68 billion, a PE ratio of 41.42, a P/E/G ratio of 3.12 and a beta of 1.41. 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 (NYSE:ROK - Get Free Report) last announced 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. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The company had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.07 billion. During the same quarter in the previous year, the business posted $2.71 earnings per share. Rockwell Automation's quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Insider Activity

In other Rockwell Automation news, CEO Blake D. Moret sold 24,400 shares of the stock in a transaction dated 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 directly owned 83,873 shares in the company, valued at $29,366,453.49. This represents a 22.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James P. Keane sold 3,000 shares of the business's stock in a transaction dated 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 sale, the director owned 9,192 shares of the company's stock, valued at approximately $3,272,903.52. This represents a 24.61% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,553 shares of company stock worth $10,361,079. 0.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. CICC Research assumed coverage on shares of Rockwell Automation in a report on Monday, July 7th. They issued an "outperform" rating and a $381.00 price objective on the stock. Oppenheimer raised their price objective on shares of Rockwell Automation from $363.00 to $365.00 and gave the stock an "outperform" rating in a report on Tuesday, October 14th. Wall Street Zen raised shares of Rockwell Automation from a "hold" rating to a "buy" rating in a report on Sunday, September 21st. Citigroup reissued a "buy" rating on shares of Rockwell Automation in a report on Thursday, October 9th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Rockwell Automation in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $347.94.

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.

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