Hoey Investments Inc. Sells 83 Shares of Rockwell Automation, Inc. $ROK

Hoey Investments Inc. lessened its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 5.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,588 shares of the industrial products company’s stock after selling 83 shares during the quarter. Hoey Investments Inc.’s holdings in Rockwell Automation were worth $527,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Fifth Third Bancorp raised its stake in Rockwell Automation by 8.5% in the 1st quarter. Fifth Third Bancorp now owns 5,424 shares of the industrial products company’s stock valued at $1,401,000 after acquiring an additional 423 shares during the period. CWM LLC increased its holdings in shares of Rockwell Automation by 3.7% in the first quarter. CWM LLC now owns 2,353 shares of the industrial products company’s stock valued at $608,000 after purchasing an additional 84 shares during the last quarter. Allspring Global Investments Holdings LLC raised 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 valued at $1,462,000 after purchasing an additional 43 shares during the period. Brighton Jones LLC acquired a new stake in shares of Rockwell Automation during the 4th quarter worth about $281,000. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of Rockwell Automation by 128.7% during the 1st quarter. J.W. Cole Advisors Inc. now owns 4,382 shares of the industrial products company’s stock worth $1,132,000 after buying an additional 2,466 shares during the period. 75.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Terry L. Riesterer sold 269 shares of the firm’s stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $355.26, for a total transaction of $95,564.94. Following the sale, the vice president owned 1,613 shares of the company’s stock, valued at $573,034.38. This trade represents a 14.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Cyril Perducat sold 1,435 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $348.08, for a total value of $499,494.80. Following the completion of the transaction, the senior vice president directly owned 3,787 shares of the company’s stock, valued at approximately $1,318,178.96. The trade was a 27.48% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,922 shares of company stock valued at $11,191,812. 0.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on ROK. Wells Fargo & Company set a $345.00 price target on shares of Rockwell Automation and gave the company an “equal weight” rating in a report on Friday, August 8th. CICC Research began coverage on Rockwell Automation in a research report on Monday, July 7th. They issued an “outperform” rating and a $381.00 target price on the stock. Barclays increased their target price on Rockwell Automation from $357.00 to $370.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Citigroup restated a “buy” rating and issued a $392.00 price target (up from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. Finally, Oppenheimer lowered their price objective on Rockwell Automation from $371.00 to $363.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $340.16.

Rockwell Automation Stock Performance

NYSE:ROK opened at $345.40 on Tuesday. Rockwell Automation, Inc. has a twelve month low of $215.00 and a twelve month 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. The stock’s 50-day simple moving average is $346.20 and its 200 day simple moving average is $307.08. The firm has a market capitalization of $38.83 billion, a PE ratio of 40.54, a price-to-earnings-growth ratio of 3.63 and a beta of 1.41.

Rockwell Automation (NYSE:ROK) last posted its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.15. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.71 earnings per share. On average, analysts anticipate that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

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.