State of Alaska Department of Revenue lessened its position in shares of Rockwell Automation, Inc. (NYSE:ROK – Get Rating) by 27.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,683 shares of the industrial products company’s stock after selling 7,310 shares during the quarter. State of Alaska Department of Revenue’s holdings in Rockwell Automation were worth $3,922,000 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. Capital Advisory Group Advisory Services LLC acquired a new stake in Rockwell Automation during the first quarter valued at $28,000. Roble Belko & Company Inc grew its position in Rockwell Automation by 3,233.3% during the first quarter. Roble Belko & Company Inc now owns 100 shares of the industrial products company’s stock valued at $28,000 after buying an additional 97 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC grew its position in Rockwell Automation by 419.0% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 109 shares of the industrial products company’s stock valued at $31,000 after buying an additional 88 shares during the period. Riverview Trust Co acquired a new stake in Rockwell Automation during the first quarter valued at $32,000. Finally, Steward Financial Group LLC acquired a new stake in Rockwell Automation during the first quarter valued at $35,000. Institutional investors and hedge funds own 79.11% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently commented on the stock. Morgan Stanley dropped their price target on shares of Rockwell Automation from $277.00 to $260.00 and set an “overweight” rating on the stock in a research report on Monday, June 27th. Credit Suisse Group set a $219.00 price target on shares of Rockwell Automation in a research report on Tuesday, July 19th. Argus lifted their price objective on Rockwell Automation from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Wells Fargo & Company cut their price objective on Rockwell Automation from $190.00 to $189.00 in a research note on Tuesday, July 12th. Finally, Barclays cut their price objective on Rockwell Automation from $200.00 to $190.00 in a research note on Friday, July 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $240.29.
Insider Buying and Selling
Rockwell Automation Price Performance
ROK stock opened at $231.06 on Thursday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.06 and a quick ratio of 0.76. The business has a 50 day simple moving average of $240.82 and a 200-day simple moving average of $235.69. The firm has a market capitalization of $26.67 billion, a PE ratio of 40.32, a price-to-earnings-growth ratio of 2.66 and a beta of 1.47. Rockwell Automation, Inc. has a 1 year low of $190.08 and a 1 year high of $354.99.
Rockwell Automation (NYSE:ROK – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.33. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.98 billion. Rockwell Automation had a return on equity of 37.06% and a net margin of 9.03%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.31 earnings per share. Equities research analysts anticipate that Rockwell Automation, Inc. will post 9.4 earnings per share for the current fiscal year.
Rockwell Automation Profile
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.
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