AdvisorNet Financial Inc Cuts Position in Rockwell Automation, Inc. (NYSE:ROK)

AdvisorNet Financial Inc cut its stake in Rockwell Automation, Inc. (NYSE:ROKGet Rating) by 52.9% in the 2nd quarter, Holdings Channel reports. The fund owned 500 shares of the industrial products company’s stock after selling 562 shares during the quarter. AdvisorNet Financial Inc’s holdings in Rockwell Automation were worth $100,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hilltop Holdings Inc. grew its position in Rockwell Automation by 6.3% in the fourth quarter. Hilltop Holdings Inc. now owns 1,261 shares of the industrial products company’s stock worth $440,000 after acquiring an additional 75 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its position in Rockwell Automation by 3.1% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 16,418 shares of the industrial products company’s stock valued at $5,727,000 after buying an additional 496 shares during the period. O Shaughnessy Asset Management LLC boosted its position in Rockwell Automation by 3.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,110 shares of the industrial products company’s stock valued at $736,000 after buying an additional 73 shares during the period. Weil Company Inc. boosted its position in Rockwell Automation by 83.5% during the first quarter. Weil Company Inc. now owns 9,257 shares of the industrial products company’s stock valued at $2,592,000 after buying an additional 4,211 shares during the period. Finally, CVA Family Office LLC boosted its position in Rockwell Automation by 39.4% during the first quarter. CVA Family Office LLC now owns 460 shares of the industrial products company’s stock valued at $129,000 after buying an additional 130 shares during the period. 79.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP John M. Miller sold 1,200 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $253.10, for a total transaction of $303,720.00. Following the sale, the vice president now owns 4,508 shares in the company, valued at $1,140,974.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.68% of the company’s stock.

Rockwell Automation Price Performance

Shares of NYSE ROK opened at $231.06 on Thursday. Rockwell Automation, Inc. has a fifty-two week low of $190.08 and a fifty-two week high of $354.99. The company has a 50 day simple moving average of $240.82 and a two-hundred day simple moving average of $235.69. The company has a market capitalization of $26.67 billion, a price-to-earnings ratio of 40.32, a P/E/G ratio of 2.66 and a beta of 1.47. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.76 and a current ratio of 1.06.

Rockwell Automation (NYSE:ROKGet Rating) last announced its earnings results on Wednesday, July 27th. The industrial products company reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.33. Rockwell Automation had a net margin of 9.03% and a return on equity of 37.06%. The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the firm earned $2.31 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts expect that Rockwell Automation, Inc. will post 9.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ROK shares. TheStreet upgraded shares of Rockwell Automation from a “c” rating to a “b” rating in a research report on Thursday, September 15th. Wells Fargo & Company lowered their price objective on shares of Rockwell Automation from $190.00 to $189.00 in a research note on Tuesday, July 12th. Morgan Stanley lowered their price objective on shares of Rockwell Automation from $277.00 to $260.00 and set an “overweight” rating for the company in a research note on Monday, June 27th. Citigroup upped their price objective on shares of Rockwell Automation from $259.00 to $274.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Rockwell Automation from $212.00 to $231.00 in a research note on Thursday, July 28th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $240.29.

Rockwell Automation Profile

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Rockwell Automation, Inc provides industrial automation and digital transformation solutions in the United States and internationally. The company operates in three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products, and services.

Further Reading

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Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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