MAI Capital Management cut its holdings in shares of Rockwell Automation, Inc. (NYSE:ROK – Get Rating) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,546 shares of the industrial products company's stock after selling 69 shares during the quarter. MAI Capital Management's holdings in Rockwell Automation were worth $507,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Rockwell Automation by 0.9% in the first quarter. Vanguard Group Inc. now owns 11,472,877 shares of the industrial products company's stock valued at $3,212,750,000 after purchasing an additional 106,641 shares in the last quarter. BlackRock Inc. raised its stake in shares of Rockwell Automation by 2.9% in the first quarter. BlackRock Inc. now owns 9,227,972 shares of the industrial products company's stock valued at $2,584,111,000 after purchasing an additional 261,227 shares in the last quarter. Capital World Investors raised its stake in shares of Rockwell Automation by 35.2% in the fourth quarter. Capital World Investors now owns 4,892,850 shares of the industrial products company's stock valued at $1,706,871,000 after purchasing an additional 1,272,634 shares in the last quarter. Alecta Tjanstepension Omsesidigt raised its stake in shares of Rockwell Automation by 8.2% in the second quarter. Alecta Tjanstepension Omsesidigt now owns 2,978,265 shares of the industrial products company's stock valued at $594,015,000 after purchasing an additional 225,000 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Rockwell Automation by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 1,369,647 shares of the industrial products company's stock valued at $383,543,000 after purchasing an additional 17,841 shares in the last quarter. 79.11% of the stock is currently owned by institutional investors and hedge funds.
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Insider Buying and Selling at Rockwell Automation
In other Rockwell Automation news, VP John M. Miller sold 1,200 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $253.10, for a total value of $303,720.00. Following the transaction, the vice president now owns 4,508 shares of the company's stock, valued at $1,140,974.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.68% of the company's stock.
Rockwell Automation Trading Down 0.3 %
Shares of ROK opened at $215.11 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.06 and a debt-to-equity ratio of 1.29. Rockwell Automation, Inc. has a 12-month low of $190.08 and a 12-month high of $354.99. The firm has a market capitalization of $24.83 billion, a PE ratio of 37.54, a price-to-earnings-growth ratio of 2.37 and a beta of 1.47. The stock's fifty day simple moving average is $241.53 and its 200-day simple moving average is $233.18.
Rockwell Automation (NYSE:ROK – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.35. Rockwell Automation had a return on equity of 37.06% and a net margin of 9.03%. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the firm posted $2.31 earnings per share. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, research analysts predict that Rockwell Automation, Inc. will post 9.4 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the company. Mizuho cut their target price on Rockwell Automation from $215.00 to $200.00 and set a "neutral" rating for the company in a research note on Monday, July 18th. Morgan Stanley lowered their price target on Rockwell Automation from $277.00 to $260.00 and set an "overweight" rating on the stock in a research report on Monday, June 27th. StockNews.com upgraded Rockwell Automation from a "sell" rating to a "hold" rating in a research report on Saturday, July 23rd. Deutsche Bank Aktiengesellschaft upped their price target on Rockwell Automation from $212.00 to $231.00 in a research report on Thursday, July 28th. Finally, Credit Suisse Group set a $219.00 price target on Rockwell Automation in a research report on Tuesday, July 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $240.29.
About Rockwell Automation
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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.
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