Rockwell Automation, Inc. $ROK Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC decreased its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 0.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 423,233 shares of the industrial products company’s stock after selling 674 shares during the quarter. DAVENPORT & Co LLC owned about 0.38% of Rockwell Automation worth $140,349,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Howe & Rusling Inc. increased its stake in shares of Rockwell Automation by 4.9% during the 1st quarter. Howe & Rusling Inc. now owns 794 shares of the industrial products company’s stock valued at $205,000 after acquiring an additional 37 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position 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 worth $1,462,000 after acquiring an additional 43 shares during the last quarter. Wealthfront Advisers LLC grew its holdings in 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 purchasing an additional 43 shares during the period. Kelly Financial Services LLC increased its position in Rockwell Automation by 4.4% during the first quarter. Kelly Financial Services LLC now owns 1,096 shares of the industrial products company’s stock worth $283,000 after purchasing an additional 46 shares during the last quarter. Finally, Koshinski Asset Management Inc. boosted its holdings in shares of Rockwell Automation by 1.1% in the 1st quarter. Koshinski Asset Management Inc. now owns 4,097 shares of the industrial products company’s stock valued at $1,059,000 after purchasing an additional 46 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ROK shares. Oppenheimer lowered their price objective on shares of Rockwell Automation from $371.00 to $363.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. CICC Research assumed coverage on Rockwell Automation in a research report on Monday, July 7th. They set an “outperform” rating and a $381.00 price target for the company. Wells Fargo & Company set a $345.00 price objective on Rockwell Automation and gave the stock an “equal weight” rating in a report on Friday, August 8th. Wall Street Zen upgraded Rockwell Automation from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Finally, Stephens reissued an “overweight” rating and set a $375.00 target price (up previously from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Rockwell Automation presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.16.

Rockwell Automation Price Performance

ROK stock opened at $349.05 on Monday. The firm has a market cap of $39.24 billion, a P/E ratio of 40.97, a price-to-earnings-growth ratio of 3.10 and a beta of 1.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.06. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $360.92. The stock has a 50-day simple moving average of $344.60 and a 200-day simple moving average of $312.39.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results 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 firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the prior year, the business earned $2.71 EPS. Rockwell Automation’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Rockwell Automation

In related news, VP Terry L. Riesterer sold 269 shares of the business’s stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $355.26, for a total value of $95,564.94. Following the transaction, the vice president owned 1,613 shares in the company, valued at approximately $573,034.38. The trade was a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James P. Keane sold 3,000 shares of the stock in a transaction dated 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 completion of the transaction, the director directly owned 9,192 shares of the company’s stock, valued at $3,272,903.52. This represents a 24.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,922 shares of company stock worth $11,191,812. 0.68% of the stock is currently owned by insiders.

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.