Atria Wealth Solutions Inc. Reduces Stake in Rockwell Automation, Inc. $ROK

Atria Wealth Solutions Inc. reduced its stake in Rockwell Automation, Inc. (NYSE:ROK) by 56.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,062 shares of the industrial products company’s stock after selling 5,284 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Rockwell Automation were worth $1,349,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ROK. Howe & Rusling Inc. increased its holdings 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 valued at $205,000 after purchasing an additional 37 shares during the period. IFP Advisors Inc boosted 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 valued at $476,000 after buying an additional 37 shares in the last quarter. Allspring Global Investments Holdings LLC boosted 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 valued at $1,462,000 after buying an additional 43 shares in the last quarter. Wealthfront Advisers LLC boosted 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 valued at $1,992,000 after buying an additional 43 shares in the last quarter. Finally, Koshinski Asset Management Inc. boosted 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 valued at $1,059,000 after buying an additional 46 shares in the last quarter. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on ROK shares. Weiss Ratings restated a “buy (b-)” rating on shares of Rockwell Automation in a research note on Wednesday, October 8th. Barclays lifted their price target on Rockwell Automation from $357.00 to $370.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. CICC Research started coverage on Rockwell Automation in a research note on Monday, July 7th. They issued an “outperform” rating and a $381.00 price target on the stock. Wall Street Zen upgraded Rockwell Automation from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. Finally, Stephens reiterated an “overweight” rating and set a $375.00 target price (up from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $347.94.

Rockwell Automation Stock Down 1.2%

Shares of NYSE:ROK opened at $347.79 on Friday. The company has a market capitalization of $39.10 billion, a P/E ratio of 40.82, a P/E/G ratio of 3.17 and a beta of 1.41. The stock’s fifty day simple moving average is $344.29 and its 200-day simple moving average is $316.66. Rockwell Automation, Inc. has a 52-week low of $215.00 and a 52-week high of $360.92. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.72.

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

Insiders Place Their Bets

In related news, VP Isaac Woods sold 365 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $348.44, for a total value of $127,180.60. Following the completion of the transaction, the vice president directly owned 1,691 shares in the company, valued at approximately $589,212.04. This represents a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Cyril Perducat sold 1,435 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $348.08, for a total value of $499,494.80. Following the completion of the transaction, the senior vice president owned 3,787 shares of the company’s stock, valued at $1,318,178.96. The trade was a 27.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,553 shares of company stock valued at $10,361,079. 0.68% of the stock is owned by company insiders.

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.