Envestnet Asset Management Inc. Reduces Holdings in Rockwell Automation, Inc. $ROK

Envestnet Asset Management Inc. lessened its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 18.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 227,431 shares of the industrial products company’s stock after selling 52,421 shares during the quarter. Envestnet Asset Management Inc. owned about 0.20% of Rockwell Automation worth $75,546,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. purchased a new stake in shares of Rockwell Automation during the 1st quarter valued at approximately $31,000. IMA Advisory Services Inc. purchased a new stake in shares of Rockwell Automation during the 1st quarter valued at approximately $32,000. Cooksen Wealth LLC purchased a new stake in shares of Rockwell Automation during the 1st quarter valued at approximately $34,000. Legend Financial Advisors Inc. purchased a new stake in shares of Rockwell Automation during the 2nd quarter valued at approximately $39,000. Finally, Cary Street Partners Investment Advisory LLC raised its position in shares of Rockwell Automation by 59.6% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 166 shares of the industrial products company’s stock valued at $43,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ROK shares. Stephens reaffirmed an “overweight” rating and set a $375.00 price target (up previously from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. Wells Fargo & Company increased their price objective on shares of Rockwell Automation from $345.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Oppenheimer increased their price objective on shares of Rockwell Automation from $363.00 to $365.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 14th. JPMorgan Chase & Co. increased their price objective on shares of Rockwell Automation from $320.00 to $357.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Finally, Citigroup reaffirmed a “buy” rating on shares of Rockwell Automation in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $347.94.

Insider Buying and Selling

In other news, CEO Blake D. Moret sold 24,400 shares of Rockwell Automation stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $350.13, for a total transaction of $8,543,172.00. Following the completion of the sale, the chief executive officer directly owned 83,873 shares of the company’s stock, valued at approximately $29,366,453.49. The trade was a 22.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Cyril Perducat sold 1,435 shares of Rockwell Automation stock in a transaction on Friday, August 29th. The stock was sold at an average price of $348.08, for a total transaction of $499,494.80. Following the sale, the senior vice president directly owned 3,787 shares of the company’s stock, valued at approximately $1,318,178.96. This trade represents a 27.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,553 shares of company stock worth $10,361,079 over the last ninety days. Insiders own 0.68% of the company’s stock.

Rockwell Automation Stock Down 0.6%

Rockwell Automation stock opened at $365.88 on Friday. Rockwell Automation, Inc. has a twelve month low of $215.00 and a twelve month high of $375.02. The stock’s fifty day simple moving average is $347.65 and its 200-day simple moving average is $325.70. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $41.14 billion, a P/E ratio of 42.94, a P/E/G ratio of 3.30 and a beta of 1.41.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the company earned $2.71 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. As a group, equities analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

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.