Glenmede Trust Co. NA cut its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK - Get Rating) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,938 shares of the industrial products company's stock after selling 584 shares during the quarter. Glenmede Trust Co. NA's holdings in Rockwell Automation were worth $9,235,000 as of its most recent SEC filing.
→ A gold storm is coming… (From Wall Street Watch Dogs)
- Rockwell Automation Is Automating Profits
A number of other hedge funds also recently added to or reduced their stakes in ROK. Hexagon Capital Partners LLC grew its position in shares of Rockwell Automation by 62.5% in the 2nd quarter. Hexagon Capital Partners LLC now owns 130 shares of the industrial products company's stock valued at $26,000 after buying an additional 50 shares during the last quarter. Heritage Financial Services LLC acquired a new stake in shares of Rockwell Automation in the second quarter valued at about $27,000. Neo Ivy Capital Management acquired a new position in Rockwell Automation during the second quarter worth about $29,000. Total Clarity Wealth Management Inc. purchased a new stake in shares of Rockwell Automation during the second quarter worth about $31,000. Finally, BDO Wealth Advisors LLC grew its holdings in shares of Rockwell Automation by 103.8% during the third quarter. BDO Wealth Advisors LLC now owns 163 shares of the industrial products company's stock worth $35,000 after buying an additional 83 shares in the last quarter. 77.66% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Rockwell Automation
In other news, VP John M. Miller sold 190 shares of the business's stock in a transaction that occurred on Wednesday, December 7th. The shares were sold at an average price of $256.63, for a total value of $48,759.70. Following the sale, the vice president now directly owns 4,761 shares of the company's stock, valued at approximately $1,221,815.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Rockwell Automation news, VP John M. Miller sold 190 shares of the company's stock in a transaction on Wednesday, December 7th. The shares were sold at an average price of $256.63, for a total transaction of $48,759.70. Following the completion of the transaction, the vice president now owns 4,761 shares in the company, valued at approximately $1,221,815.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Christopher Nardecchia sold 1,279 shares of the stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $256.55, for a total transaction of $328,127.45. Following the completion of the transaction, the senior vice president now owns 8,177 shares of the company's stock, valued at approximately $2,097,809.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,304 shares of company stock valued at $3,410,562. Corporate insiders own 0.64% of the company's stock.
Wall Street Analysts Forecast Growth
- Rockwell International (NYSE:ROK) Falls On Improved Guidance
A number of research firms recently issued reports on ROK. Barclays boosted their target price on shares of Rockwell Automation from $220.00 to $250.00 and gave the company an "equal weight" rating in a report on Friday. Wells Fargo & Company boosted their target price on shares of Rockwell Automation from $233.00 to $249.00 and gave the company an "underweight" rating in a research note on Thursday, January 19th. Morgan Stanley upped their price target on shares of Rockwell Automation from $284.00 to $335.00 and gave the stock an "overweight" rating in a research report on Friday. Citigroup upped their price target on shares of Rockwell Automation from $297.00 to $320.00 and gave the company a "buy" rating in a report on Friday. Finally, Robert W. Baird upped their price objective on shares of Rockwell Automation from $285.00 to $292.00 and gave the company an "outperform" rating in a research note on Friday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Rockwell Automation currently has an average rating of "Hold" and an average target price of $259.69.
Rockwell Automation Stock Performance
NYSE ROK traded up $1.84 on Friday, reaching $283.71. 463,686 shares of the stock were exchanged, compared to its average volume of 740,049. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $32.58 billion, a PE ratio of 35.49, a PEG ratio of 3.23 and a beta of 1.44. The company's 50-day simple moving average is $265.30 and its two-hundred day simple moving average is $247.79. Rockwell Automation, Inc. has a one year low of $190.08 and a one year high of $295.56.
- Roku (NASDAQ: ROKU) Makes Hay While The Sun Shines
Rockwell Automation (NYSE:ROK - Get Rating) last issued its earnings results on Thursday, January 26th. The industrial products company reported $2.46 EPS for the quarter, topping analysts' consensus estimates of $1.81 by $0.65. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.93 billion. Rockwell Automation had a net margin of 12.01% and a return on equity of 38.84%. The company's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the company posted $2.14 earnings per share. Analysts expect that Rockwell Automation, Inc. will post 10.68 EPS for the current fiscal year.
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.
Further Reading
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Is Rockwell Automation Stock a good buy in 2023, according to Wall Street analysts? The consensus among 17 Wall Street analysts covering (NYSE: ROK) stock is to Hold ROK stock.
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The 21 analysts offering 12-month price forecasts for Rockwell Automation Inc have a median target of 275.00, with a high estimate of 335.00 and a low estimate of 200.00. The median estimate represents a -5.56% decrease from the last price of 291.19.
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