Rockwell Automation, Inc. $ROK Shares Sold by OFI Invest Asset Management

OFI Invest Asset Management reduced its stake in Rockwell Automation, Inc. (NYSE:ROK) by 1.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,676 shares of the industrial products company’s stock after selling 87 shares during the period. OFI Invest Asset Management’s holdings in Rockwell Automation were worth $1,553,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Citizens National Bank Trust Department acquired a new position in Rockwell Automation in the 1st quarter valued at about $26,000. Legend Financial Advisors Inc. purchased a new stake in Rockwell Automation during the second quarter worth approximately $39,000. Financial Gravity Asset Management Inc. purchased a new stake in Rockwell Automation during the first quarter worth approximately $31,000. IMA Advisory Services Inc. purchased a new stake in Rockwell Automation during the first quarter worth approximately $32,000. Finally, Cooksen Wealth LLC purchased a new stake in Rockwell Automation during the first quarter worth approximately $34,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ROK shares. Citigroup reiterated a “buy” rating on shares of Rockwell Automation in a research note on Thursday. Stephens reaffirmed an “overweight” rating and set a $375.00 price objective (up previously from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. KeyCorp upped their price objective on Rockwell Automation from $370.00 to $380.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Oppenheimer lowered their target price on Rockwell Automation from $371.00 to $363.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Finally, Wells Fargo & Company upped their target price on Rockwell Automation from $345.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $340.68.

Rockwell Automation Price Performance

ROK stock opened at $333.79 on Friday. 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, Inc. has a 1 year low of $215.00 and a 1 year high of $360.92. The firm has a market cap of $37.53 billion, a P/E ratio of 39.18, a price-to-earnings-growth ratio of 2.98 and a beta of 1.41. The stock has a 50-day simple moving average of $343.79 and a 200-day simple moving average of $314.72.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.15. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the firm earned $2.71 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Blake D. Moret sold 24,400 shares of Rockwell Automation stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $350.13, for a total value of $8,543,172.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James P. Keane sold 3,000 shares of Rockwell Automation stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $356.06, for a total value of $1,068,180.00. Following the completion of the transaction, the director owned 9,192 shares of the company’s stock, valued at approximately $3,272,903.52. The trade was 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 over the last quarter. Corporate insiders own 0.68% of the company’s stock.

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.