Moran Wealth Management LLC Reduces Stock Position in Rockwell Automation, Inc. $ROK

Moran Wealth Management LLC reduced its holdings in Rockwell Automation, Inc. (NYSE:ROK) by 12.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,952 shares of the industrial products company’s stock after selling 267 shares during the period. Moran Wealth Management LLC’s holdings in Rockwell Automation were worth $648,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ROK. Goldman Sachs Group Inc. boosted its stake in shares of Rockwell Automation by 11.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,819,379 shares of the industrial products company’s stock worth $470,091,000 after purchasing an additional 191,370 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Rockwell Automation by 0.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,579,956 shares of the industrial products company’s stock worth $408,229,000 after purchasing an additional 9,920 shares during the period. Invesco Ltd. boosted its stake in shares of Rockwell Automation by 2.2% during the 1st quarter. Invesco Ltd. now owns 1,448,160 shares of the industrial products company’s stock worth $374,176,000 after purchasing an additional 30,837 shares during the period. Northern Trust Corp boosted its stake in shares of Rockwell Automation by 0.4% during the 1st quarter. Northern Trust Corp now owns 1,396,303 shares of the industrial products company’s stock worth $360,777,000 after purchasing an additional 4,972 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Rockwell Automation by 1.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,170,010 shares of the industrial products company’s stock worth $302,307,000 after purchasing an additional 11,849 shares during the period. Institutional investors own 75.75% of the company’s stock.

Rockwell Automation Trading Down 1.2%

Shares of ROK opened at $347.79 on Friday. Rockwell Automation, Inc. has a 1-year low of $215.00 and a 1-year high of $360.92. The company has a 50-day moving average of $344.29 and a 200 day moving average of $316.66. The firm has a market capitalization of $39.10 billion, a price-to-earnings ratio of 40.82, a PEG ratio of 3.17 and a beta of 1.41. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72.

Rockwell Automation (NYSE:ROK) last posted its quarterly 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 business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the previous year, the business posted $2.71 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, research analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Analysts Set New Price Targets

ROK has been the subject of a number of recent analyst reports. Bank of America raised shares of Rockwell Automation from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $360.00 to $410.00 in a research note on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price target on shares of Rockwell Automation from $320.00 to $357.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wall Street Zen raised shares of Rockwell Automation from a “hold” rating to a “buy” rating in a research note on Sunday, September 21st. CICC Research assumed coverage on shares of Rockwell Automation in a research note on Monday, July 7th. They set an “outperform” rating and a $381.00 price target for the company. Finally, Barclays lifted their price objective on shares of Rockwell Automation from $357.00 to $370.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $347.94.

Insider Buying and Selling at Rockwell Automation

In other news, Director James P. Keane sold 3,000 shares of the business’s 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 sale, the director owned 9,192 shares in the company, valued at approximately $3,272,903.52. The trade was a 24.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Blake D. Moret sold 24,400 shares of the business’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 transaction of $8,543,172.00. Following the transaction, the chief executive officer owned 83,873 shares of the company’s stock, valued at approximately $29,366,453.49. This trade represents a 22.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,553 shares of company stock worth $10,361,079. 0.68% of the stock is owned by company insiders.

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.