Commonwealth Bank of Australia cut its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 2.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,890 shares of the industrial products company’s stock after selling 294 shares during the period. Commonwealth Bank of Australia’s holdings in Rockwell Automation were worth $1,924,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Jacobus Wealth Management Inc. purchased a new position in shares of Rockwell Automation during the 1st quarter worth about $104,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Rockwell Automation by 1,700.0% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 720 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 680 shares during the period. Clarkston Capital Partners LLC purchased a new position in shares of Rockwell Automation during the 2nd quarter worth about $206,000. Appleton Group LLC purchased a new position in shares of Rockwell Automation during the 1st quarter worth about $213,000. Finally, Hunter Associates Investment Management LLC purchased a new position in shares of Rockwell Automation during the 1st quarter worth about $215,000. 73.66% of the stock is owned by hedge funds and other institutional investors.

Shares of Rockwell Automation, Inc. (ROK) opened at 169.12 on Wednesday. The company has a market cap of $21.71 billion, a price-to-earnings ratio of 27.27 and a beta of 1.16. The stock has a 50 day moving average of $163.28 and a 200 day moving average of $159.18. Rockwell Automation, Inc. has a 12-month low of $113.27 and a 12-month high of $170.41.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.12. Rockwell Automation had a net margin of 13.04% and a return on equity of 40.71%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the firm posted $1.55 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts forecast that Rockwell Automation, Inc. will post $6.75 earnings per share for the current year.

In other news, Director Keith D. Nosbusch sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $165.50, for a total value of $3,310,000.00. Following the completion of the transaction, the director now owns 411,286 shares of the company’s stock, valued at $68,067,833. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP John M. Miller sold 1,825 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $165.37, for a total transaction of $301,800.25. The disclosure for this sale can be found here. In the last three months, insiders sold 58,425 shares of company stock valued at $9,658,813. Insiders own 1.65% of the company’s stock.

A number of research firms recently commented on ROK. Stifel Nicolaus reaffirmed a “hold” rating and set a $167.00 price target on shares of Rockwell Automation in a research note on Wednesday, July 19th. HSBC Holdings plc reissued a “hold” rating and issued a $147.00 price objective (up from $134.00) on shares of Rockwell Automation in a research report on Saturday, July 22nd. Zacks Investment Research raised shares of Rockwell Automation from a “hold” rating to a “buy” rating and set a $182.00 price objective for the company in a research report on Friday, July 28th. Wolfe Research started coverage on shares of Rockwell Automation in a research report on Tuesday, July 11th. They issued a “peer perform” rating for the company. Finally, BidaskClub cut shares of Rockwell Automation from a “hold” rating to a “sell” rating in a research report on Sunday, July 30th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. Rockwell Automation currently has an average rating of “Hold” and a consensus target price of $152.27.

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Rockwell Automation Company Profile

Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.

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

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