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Swedbank AB lowered its position in shares of Rockwell Automation, Inc. (NYSE:ROK – Free Report) by 66.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,748 shares of the industrial products company’s stock after selling 100,238 shares during the period. Swedbank AB’s holdings in Rockwell Automation were worth $12,854,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Howe & Rusling Inc. increased its position in shares of Rockwell Automation by 4.9% during the first quarter. Howe & Rusling Inc. now owns 794 shares of the industrial products company’s stock valued at $205,000 after acquiring an additional 37 shares in the last quarter. Maple Capital Management Inc. increased its position in shares of Rockwell Automation by 47.1% during the first quarter. Maple Capital Management Inc. now owns 1,103 shares of the industrial products company’s stock valued at $285,000 after acquiring an additional 353 shares in the last quarter. eCIO Inc. bought a new stake in shares of Rockwell Automation during the first quarter valued at approximately $76,000. Militia Capital Partners LP bought a new stake in shares of Rockwell Automation during the first quarter valued at approximately $181,000. Finally, Foresight Group Ltd Liability Partnership bought a new stake in shares of Rockwell Automation during the first quarter valued at approximately $9,240,000. Institutional investors own 75.75% of the company’s stock.
Rockwell Automation Trading Down 1.6%
Shares of Rockwell Automation stock opened at $344.97 on Monday. The company’s fifty day simple moving average is $345.69 and its 200-day simple moving average is $304.15. The stock has a market capitalization of $38.78 billion, a PE ratio of 40.49, a P/E/G ratio of 3.60 and a beta of 1.41. Rockwell Automation, Inc. has a 1-year low of $215.00 and a 1-year high of $360.92. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72.
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. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter last year, the company posted $2.71 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.
Insider Activity at Rockwell Automation
In related news, VP Isaac Woods sold 365 shares of Rockwell Automation stock in a transaction on Friday, August 29th. The shares were sold at an average price of $348.44, for a total transaction of $127,180.60. Following the transaction, the vice president owned 1,691 shares in the company, valued at approximately $589,212.04. The trade was a 17.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James P. Keane sold 3,000 shares of Rockwell Automation stock in a transaction 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 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 disclosure for this sale can be found here. Insiders have sold 31,922 shares of company stock worth $11,191,812 in the last 90 days. Company insiders own 0.68% of the company’s stock.
Wall Street Analyst Weigh In
ROK has been the subject of several analyst reports. Bank of America raised shares of Rockwell Automation from a “neutral” rating to a “buy” rating and raised their price target for the company from $360.00 to $410.00 in a research report on Wednesday, July 16th. Citigroup reaffirmed a “buy” rating and issued a $392.00 target price (up previously from $371.00) on shares of Rockwell Automation in a research report on Monday, July 14th. CICC Research began coverage on shares of Rockwell Automation in a research report on Monday, July 7th. They issued an “outperform” rating and a $381.00 target price for the company. Oppenheimer cut 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, Barclays lifted their target price on shares of Rockwell Automation from $357.00 to $370.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Rockwell Automation presently has a consensus rating of “Moderate Buy” and a consensus price target of $340.16.
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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