Global Trust Asset Management LLC Trims Stake in Rockwell Automation, Inc. $ROK

Global Trust Asset Management LLC lessened its stake in Rockwell Automation, Inc. (NYSE:ROK) by 23.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,827 shares of the industrial products company’s stock after selling 557 shares during the period. Global Trust Asset Management LLC’s holdings in Rockwell Automation were worth $607,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Citizens National Bank Trust Department acquired a new position in Rockwell Automation during the first quarter worth $26,000. Financial Gravity Asset Management Inc. purchased a new stake in Rockwell Automation in the 1st quarter valued at approximately $31,000. IMA Advisory Services Inc. purchased a new stake in Rockwell Automation in the 1st quarter valued at approximately $32,000. Cooksen Wealth LLC purchased a new stake in Rockwell Automation in the 1st quarter valued at approximately $34,000. Finally, Legend Financial Advisors Inc. purchased a new position in shares of Rockwell Automation during the 2nd quarter worth $39,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Insider Activity at Rockwell Automation

In related news, Director James P. Keane sold 3,000 shares of the firm’s stock in a transaction that occurred 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 $3,272,903.52. This trade represents a 24.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Cyril Perducat sold 1,435 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $348.08, for a total transaction of $499,494.80. Following the transaction, the senior vice president owned 3,787 shares in the company, valued at $1,318,178.96. This represents a 27.48% 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. Company insiders own 0.68% of the company’s stock.

Rockwell Automation Stock Performance

ROK opened at $343.95 on Monday. The business’s 50 day moving average is $345.37 and its 200-day moving average is $309.29. The stock has a market cap of $38.67 billion, a PE ratio of 40.37, a price-to-earnings-growth ratio of 3.58 and a beta of 1.41. 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, Inc. has a twelve month low of $215.00 and a twelve month high of $360.92.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results 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. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.71 earnings per share. On average, analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Analyst Ratings Changes

ROK has been the topic of a number of recent analyst reports. Oppenheimer reduced their price target on Rockwell Automation from $371.00 to $363.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. Citigroup reiterated a “buy” rating and issued a $392.00 price target (up from $371.00) on shares of Rockwell Automation in a report on Monday, July 14th. Bank of America upgraded Rockwell Automation from a “neutral” rating to a “buy” rating and raised their target price for the company from $360.00 to $410.00 in a research note on Wednesday, July 16th. CICC Research started coverage on Rockwell Automation in a research note on Monday, July 7th. They set an “outperform” rating and a $381.00 target price for the company. Finally, KeyCorp increased their price target on shares of Rockwell Automation from $370.00 to $380.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.16.

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.