Beese Fulmer Investment Management Inc. Trims Position in Rockwell Automation, Inc. (NYSE:ROK)

Beese Fulmer Investment Management Inc. decreased its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 1.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 13,339 shares of the industrial products company’s stock after selling 155 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Rockwell Automation were worth $4,395,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Schechter Investment Advisors LLC purchased a new position in shares of Rockwell Automation during the fourth quarter valued at approximately $206,000. Teacher Retirement System of Texas raised its stake in Rockwell Automation by 70.3% during the fourth quarter. Teacher Retirement System of Texas now owns 28,468 shares of the industrial products company’s stock worth $7,333,000 after purchasing an additional 11,754 shares during the period. NewEdge Advisors LLC raised its stake in Rockwell Automation by 13.9% during the first quarter. NewEdge Advisors LLC now owns 10,866 shares of the industrial products company’s stock worth $3,177,000 after purchasing an additional 1,327 shares during the period. Ontario Teachers Pension Plan Board raised its stake in Rockwell Automation by 142.9% during the first quarter. Ontario Teachers Pension Plan Board now owns 3,714 shares of the industrial products company’s stock worth $1,090,000 after purchasing an additional 2,185 shares during the period. Finally, Amalgamated Bank raised its stake in Rockwell Automation by 1.1% during the fourth quarter. Amalgamated Bank now owns 30,786 shares of the industrial products company’s stock worth $7,930,000 after purchasing an additional 330 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

ROK has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of Rockwell Automation from $340.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. Citigroup increased their price target on shares of Rockwell Automation from $334.00 to $375.00 in a research note on Monday, July 10th. Bank of America cut their price target on shares of Rockwell Automation from $375.00 to $335.00 in a research note on Wednesday, August 2nd. Wells Fargo & Company raised shares of Rockwell Automation from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $290.00 to $317.00 in a research note on Tuesday, August 29th. They noted that the move was a valuation call. Finally, Barclays downgraded shares of Rockwell Automation from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $300.00 to $287.00 in a research note on Wednesday, August 30th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Rockwell Automation presently has a consensus rating of “Hold” and an average price target of $289.00.

Rockwell Automation Stock Down 0.7 %

ROK traded down $1.88 during trading hours on Friday, reaching $285.20. 1,091,896 shares of the stock traded hands, compared to its average volume of 729,253. The firm’s fifty day simple moving average is $312.94 and its two-hundred day simple moving average is $298.43. The company has a market cap of $32.76 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 1.94 and a beta of 1.45. Rockwell Automation, Inc. has a fifty-two week low of $209.27 and a fifty-two week high of $348.52. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.12 and a quick ratio of 0.76.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $3.01 earnings per share for the quarter, missing analysts’ consensus estimates of $3.19 by ($0.18). The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.33 billion. Rockwell Automation had a net margin of 16.51% and a return on equity of 40.33%. Rockwell Automation’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.66 earnings per share. As a group, analysts forecast that Rockwell Automation, Inc. will post 11.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Tessa M. Myers sold 677 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $301.18, for a total transaction of $203,898.86. Following the completion of the transaction, the senior vice president now directly owns 2,880 shares of the company’s stock, valued at approximately $867,398.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Rockwell Automation news, VP Scott Genereux sold 500 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $297.62, for a total transaction of $148,810.00. Following the completion of the transaction, the vice president now directly owns 2,876 shares of the company’s stock, valued at approximately $855,955.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Tessa M. Myers sold 677 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $301.18, for a total transaction of $203,898.86. Following the transaction, the senior vice president now directly owns 2,880 shares of the company’s stock, valued at $867,398.40. The disclosure for this sale can be found here. Insiders sold a total of 1,327 shares of company stock valued at $401,459 in the last ninety days. Corporate insiders own 0.64% 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.