Rockwell Automation, Inc. $ROK Shares Bought by Praxis Investment Management Inc.

Praxis Investment Management Inc. increased its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 7.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,678 shares of the industrial products company’s stock after acquiring an additional 760 shares during the period. Praxis Investment Management Inc.’s holdings in Rockwell Automation were worth $3,879,000 as of its most recent SEC filing.

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

Rockwell Automation Stock Down 1.2%

Shares of NYSE:ROK opened at $347.79 on Friday. Rockwell Automation, Inc. has a 52-week low of $215.00 and a 52-week high of $360.92. The stock has a market cap of $39.10 billion, a P/E ratio of 40.82, a PEG ratio of 3.17 and a beta of 1.41. The business has a fifty day moving average of $344.29 and a two-hundred day moving average of $316.66. 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 announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, beating 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 firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the company posted $2.71 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. On average, research analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ROK shares. KeyCorp lifted 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. Wall Street Zen raised Rockwell Automation from a “hold” rating to a “buy” rating in a research note on Sunday, September 21st. Wells Fargo & Company lifted their price target on Rockwell Automation from $345.00 to $355.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rockwell Automation in a research note on Wednesday, October 8th. 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 note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Rockwell Automation has an average rating of “Moderate Buy” and a consensus target price of $347.94.

Insider Activity

In related news, SVP Cyril Perducat sold 1,435 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $348.08, for a total value of $499,494.80. Following the transaction, the senior vice president directly owned 3,787 shares in the company, valued at approximately $1,318,178.96. This represents a 27.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James P. Keane sold 3,000 shares of the firm’s stock in a transaction 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 sale, the director directly owned 9,192 shares of the company’s stock, 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. In the last 90 days, insiders sold 29,553 shares of company stock worth $10,361,079. Corporate insiders own 0.68% of the company’s stock.

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.