Abacus Planning Group Inc. Makes New $337,000 Investment in Rockwell Automation, Inc. $ROK

Abacus Planning Group Inc. purchased a new position in Rockwell Automation, Inc. (NYSE:ROK) during the second quarter, HoldingsChannel.com reports. The fund purchased 1,014 shares of the industrial products company’s stock, valued at approximately $337,000.

A number of other institutional investors have also modified their holdings of ROK. Lecap Asset Management Ltd. acquired a new stake in Rockwell Automation during the second quarter worth about $1,499,000. Cliftonlarsonallen Wealth Advisors LLC boosted its stake in Rockwell Automation by 0.8% in the second quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 33,691 shares of the industrial products company’s stock valued at $11,191,000 after acquiring an additional 273 shares during the period. McGuire Investment Group LLC grew its holdings in shares of Rockwell Automation by 0.4% during the second quarter. McGuire Investment Group LLC now owns 15,864 shares of the industrial products company’s stock valued at $5,270,000 after purchasing an additional 57 shares during the last quarter. Pure Financial Advisors LLC raised its position in shares of Rockwell Automation by 4.0% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,699 shares of the industrial products company’s stock worth $564,000 after purchasing an additional 65 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Rockwell Automation by 720.8% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 399,309 shares of the industrial products company’s stock worth $132,638,000 after purchasing an additional 350,662 shares during the last quarter. Institutional investors own 75.75% of the company’s stock.

Insider Activity

In other Rockwell Automation news, CEO Blake D. Moret sold 24,400 shares of the company’s 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 sale, the chief executive officer directly owned 83,873 shares in the company, valued at $29,366,453.49. This represents a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James P. Keane sold 3,000 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $356.06, for a total value of $1,068,180.00. Following the transaction, the director directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,922 shares of company stock valued at $11,191,812 over the last 90 days. Corporate insiders own 0.68% of the company’s stock.

Rockwell Automation Price Performance

Shares of NYSE ROK opened at $349.05 on Friday. The stock has a market cap of $39.24 billion, a P/E ratio of 40.97, a P/E/G ratio of 3.14 and a beta of 1.41. The firm’s 50-day simple moving average is $344.60 and its 200 day simple moving average is $311.65. Rockwell Automation, Inc. has a fifty-two week low of $215.00 and a fifty-two 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. 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 last year, the company earned $2.71 EPS. Rockwell Automation’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ROK shares. Oppenheimer lowered their price objective on Rockwell Automation from $371.00 to $363.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Rockwell Automation in a report on Saturday, September 27th. KeyCorp increased their price objective on shares of Rockwell Automation from $370.00 to $380.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Stephens reiterated an “overweight” rating and issued a $375.00 price objective (up from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. Finally, CICC Research started coverage on shares of Rockwell Automation in a research report on Monday, July 7th. They issued an “outperform” rating and a $381.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $340.16.

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.