Insider Selling: Rockwell Automation (NYSE:ROK) CEO Sells 24,400 Shares of Stock

Key Points

• CEO Blake Moret of Rockwell Automation sold 24,400 shares at an average price of $350.13, resulting in a total transaction of approximately $8.54 million and reducing his ownership stake by 22.54%.
• The company reported a net margin of 12.03% and earnings per share of $2.82 for the last quarter, exceeding analysts' expectations.
• Rockwell Automation's stock currently holds a consensus rating of "Moderate Buy", with a consensus target price of $340.16 from various research analysts.

Rockwell Automation, Inc. (NYSE:ROK - Get Free Report) CEO Blake Moret sold 24,400 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 83,873 shares in the company, valued at approximately $29,366,453.49. This trade represents a 22.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Rockwell Automation Stock Performance

ROK traded down $5.57 on Friday, hitting $344.97. 545,729 shares of the company's stock were exchanged, compared to its average volume of 930,600. The firm has a market cap of $38.78 billion, a PE ratio of 40.49, a P/E/G ratio of 3.54 and a beta of 1.41. Rockwell Automation, Inc. has a twelve month low of $215.00 and a twelve month high of $360.92. The stock has a fifty day moving average of $345.73 and a two-hundred day moving average of $303.51. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72.

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, topping the consensus estimate of $2.67 by $0.15. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. Rockwell Automation's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.71 earnings per share. On average, research analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rockwell Automation

Several hedge funds have recently made changes to their positions in the company. Citizens National Bank Trust Department purchased a new stake in Rockwell Automation in the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. purchased a new stake in Rockwell Automation in the 1st quarter worth approximately $31,000. IMA Advisory Services Inc. purchased a new stake in Rockwell Automation in the 1st quarter worth approximately $32,000. Rexford Capital Inc. purchased a new stake in Rockwell Automation in the 2nd quarter worth approximately $33,000. Finally, Cooksen Wealth LLC purchased a new stake in Rockwell Automation in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 75.75% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ROK shares. CICC Research began coverage on shares of Rockwell Automation in a research note on Monday, July 7th. They set an "outperform" rating and a $381.00 price objective on the stock. 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 report on Wednesday, July 16th. Wells Fargo & Company set a $345.00 target price on shares of Rockwell Automation and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Oppenheimer decreased their target price on shares of Rockwell Automation from $371.00 to $363.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Finally, Loop Capital upped their target price on shares of Rockwell Automation from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Thursday, May 15th. 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 given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $340.16.

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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