Courier Capital LLC raised its stake in shares of Rockwell Automation, Inc. (NYSE:ROK – Free Report) by 88.7% during the third quarter, Holdings Channel reports. The firm owned 8,346 shares of the industrial products company’s stock after buying an additional 3,924 shares during the period. Courier Capital LLC’s holdings in Rockwell Automation were worth $3,633,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Rockwell Automation in the 2nd quarter worth approximately $6,129,376,000. Legal & General Group Plc acquired a new stake in Rockwell Automation in the 2nd quarter valued at $394,905,000. Bank of New York Mellon Corp acquired a new stake in Rockwell Automation in the 2nd quarter valued at $300,589,000. Hsbc Holdings PLC bought a new stake in Rockwell Automation in the second quarter valued at $233,964,000. Finally, Deutsche Bank AG bought a new stake in Rockwell Automation in the second quarter valued at $210,342,000. 75.75% of the stock is currently owned by institutional investors.
Rockwell Automation Price Performance
ROK stock traded down $1.96 during midday trading on Tuesday, reaching $432.01. 919,883 shares of the company’s stock traded hands, compared to its average volume of 849,920. The company has a 50-day simple moving average of $433.77 and a two-hundred day simple moving average of $437.81. The company has a quick ratio of 0.74, a current ratio of 1.08 and a debt-to-equity ratio of 0.74. Rockwell Automation, Inc. has a 1-year low of $335.17 and a 1-year high of $497.36. The company has a market cap of $47.97 billion, a price-to-earnings ratio of 40.49, a PEG ratio of 2.05 and a beta of 1.51.
Insiders Place Their Bets
In related news, SVP Matheus Bulho sold 467 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $426.96, for a total transaction of $199,390.32. Following the transaction, the senior vice president owned 1,267 shares in the company, valued at $540,958.32. This represents a 26.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Isaac Woods sold 154 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $432.62, for a total transaction of $66,623.48. Following the sale, the vice president directly owned 1,858 shares in the company, valued at approximately $803,807.96. This represents a 7.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 2,711 shares of company stock valued at $1,164,880. 0.76% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
ROK has been the subject of several recent analyst reports. Sanford C. Bernstein increased their price objective on Rockwell Automation from $501.00 to $514.00 and gave the stock a “market perform” rating in a research note on Friday, August 14th. The Goldman Sachs Group reduced their target price on shares of Rockwell Automation from $510.00 to $485.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. Citigroup reduced their target price on shares of Rockwell Automation from $555.00 to $536.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Wells Fargo & Company started coverage on shares of Rockwell Automation in a report on Thursday, September 24th. They issued an “equal weight” rating and a $426.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Rockwell Automation from $469.00 to $500.00 and gave the stock a “hold” rating in a research report on Wednesday, September 30th. Nine investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $469.82.
View Our Latest Research Report on Rockwell Automation
Rockwell Automation Profile
Rockwell Automation, Inc is a global provider of industrial automation and digital transformation technologies. The company helps manufacturers and other industrial organizations improve productivity, quality, safety, and operational efficiency by connecting industrial equipment, control systems, software, and data.
Its offerings include programmable logic controllers, industrial computers, motor control and drives, sensors, safety systems, human-machine interfaces, and other control and electrical products.
See Also
- Five stocks we like better than Rockwell Automation
- A Chinese Rival Just Spooked Memory Stocks—How Worried Should Micron Investors Be?
- Could T-Mobile’s Satellite Competition Fears Create a Buying Opportunity?
- Surgical Precision, Sustainable Returns: Johnson & Johnson Secures Its Cash Flow Runway
- Tesla’s Robotaxi Lands in Paris—But Europe’s Real Fight Is Over Cheap EVs
Want to see what other hedge funds are holding ROK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rockwell Automation, Inc. (NYSE:ROK – Free Report).
Receive News & Ratings for Rockwell Automation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rockwell Automation and related companies with MarketBeat.com's FREE daily email newsletter.
