Chemung Canal Trust Co. Invests $210,000 in Rockwell Automation, Inc. $ROK

Chemung Canal Trust Co. acquired a new stake in shares of Rockwell Automation, Inc. (NYSE:ROK) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 633 shares of the industrial products company’s stock, valued at approximately $210,000.

Other institutional investors also recently bought and sold shares of the company. Citizens National Bank Trust Department purchased a new stake in Rockwell Automation in the first quarter worth about $26,000. Financial Gravity Asset Management Inc. purchased a new stake in Rockwell Automation in the 1st quarter worth approximately $31,000. IMA Advisory Services Inc. bought a new stake in Rockwell Automation during the 1st quarter worth approximately $32,000. Cooksen Wealth LLC purchased a new position in Rockwell Automation during the first quarter valued at approximately $34,000. Finally, Legend Financial Advisors Inc. bought a new position in shares of Rockwell Automation in the second quarter worth approximately $39,000. 75.75% of the stock is owned by institutional investors.

Rockwell Automation Stock Performance

NYSE:ROK opened at $349.05 on Friday. The firm has a market capitalization of $39.24 billion, a PE ratio of 40.97, a PEG ratio of 3.14 and a beta of 1.41. The stock’s fifty day moving average is $344.60 and its 200 day moving average is $312.01. Rockwell Automation, Inc. has a fifty-two week low of $215.00 and a fifty-two week high of $360.92. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.06.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.15. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.71 earnings per share. On average, sell-side analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

ROK has been the topic of several recent analyst reports. Citigroup restated a “buy” rating and set a $392.00 price objective (up from $371.00) on shares of Rockwell Automation in a research report on Monday, July 14th. Bank of America raised Rockwell Automation from a “neutral” rating to a “buy” rating and raised their price target for the company from $360.00 to $410.00 in a report on Wednesday, July 16th. Wells Fargo & Company set a $345.00 price objective on Rockwell Automation and gave the stock an “equal weight” rating in a research note on Friday, August 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rockwell Automation in a research note on Saturday, September 27th. Finally, Barclays lifted their price objective on Rockwell Automation from $357.00 to $370.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Rockwell Automation has a consensus rating of “Moderate Buy” and an average price target of $340.16.

Insiders Place Their Bets

In related news, VP Isaac Woods sold 250 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $350.00, for a total transaction of $87,500.00. Following the completion of the sale, the vice president directly owned 1,662 shares of the company’s stock, valued at approximately $581,700. This trade represents a 13.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Terry L. Riesterer sold 269 shares of the company’s stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $355.26, for a total value of $95,564.94. Following the completion of the transaction, the vice president directly owned 1,613 shares in the company, valued at $573,034.38. This trade represents a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,922 shares of company stock valued at $11,191,812 over the last quarter. Corporate insiders own 0.68% of the company’s stock.

Rockwell Automation Company Profile

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.