Rockwell Automation, Inc. $ROK Shares Sold by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. decreased its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK) by 0.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 48,395 shares of the industrial products company’s stock after selling 85 shares during the period. Rockwell Automation makes up approximately 1.9% of Cabot Wealth Management Inc.’s portfolio, making the stock its 16th biggest position. Cabot Wealth Management Inc.’s holdings in Rockwell Automation were worth $16,075,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ROK. Citizens National Bank Trust Department acquired a new stake in Rockwell Automation during the first quarter worth about $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Rockwell Automation during the first quarter worth about $31,000. IMA Advisory Services Inc. acquired a new stake in Rockwell Automation during the first quarter worth about $32,000. Cooksen Wealth LLC acquired a new stake in Rockwell Automation during the first quarter worth about $34,000. Finally, Legend Financial Advisors Inc. acquired a new stake in Rockwell Automation during the second quarter worth about $39,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Rockwell Automation Price Performance

NYSE ROK opened at $357.01 on Friday. The company has a 50-day moving average price of $345.80 and a two-hundred day moving average price of $322.13. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. The stock has a market cap of $40.14 billion, a price-to-earnings ratio of 41.90, a price-to-earnings-growth ratio of 3.20 and a beta of 1.41. Rockwell Automation, Inc. has a 52 week low of $215.00 and a 52 week high of $361.60.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.15. The business 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 was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $2.71 earnings per share. Analysts forecast that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Stephens reiterated an “overweight” rating and set a $375.00 price objective (up previously from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. Bank of America upgraded shares of Rockwell Automation from a “neutral” rating to a “buy” rating and upped their target price for the stock from $360.00 to $410.00 in a research report on Wednesday, July 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Rockwell Automation in a research report on Saturday. Barclays upped their target price on shares of Rockwell Automation from $357.00 to $370.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Finally, Wall Street Zen upgraded shares of Rockwell Automation from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $347.94.

Insider Activity at Rockwell Automation

In other news, SVP Cyril Perducat sold 1,435 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were 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 in the company, valued at $1,318,178.96. This trade represents a 27.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James P. Keane sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $356.06, for a total transaction of $1,068,180.00. Following the completion of the transaction, the director owned 9,192 shares of the company’s stock, valued at $3,272,903.52. This trade represents a 24.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,553 shares of company stock valued at $10,361,079. Insiders own 0.68% of the company’s stock.

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.