Kidder Stephen W Reduces Stock Position in Rockwell Automation, Inc. $ROK

Kidder Stephen W lowered its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 14.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 25,196 shares of the industrial products company’s stock after selling 4,175 shares during the quarter. Rockwell Automation accounts for about 2.5% of Kidder Stephen W’s holdings, making the stock its 18th biggest holding. Kidder Stephen W’s holdings in Rockwell Automation were worth $8,369,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ROK. Robeco Institutional Asset Management B.V. boosted its position in Rockwell Automation by 720.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 399,309 shares of the industrial products company’s stock valued at $132,638,000 after buying an additional 350,662 shares during the period. Great Lakes Advisors LLC purchased a new stake in Rockwell Automation during the 1st quarter valued at $73,908,000. Nuveen LLC purchased a new stake in Rockwell Automation during the 1st quarter valued at $63,632,000. Raymond James Financial Inc. boosted its position in Rockwell Automation by 213.7% during the 1st quarter. Raymond James Financial Inc. now owns 357,080 shares of the industrial products company’s stock valued at $92,263,000 after buying an additional 243,249 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Rockwell Automation by 1,950.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 202,788 shares of the industrial products company’s stock valued at $67,360,000 after buying an additional 192,898 shares during the period. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Stock Down 1.3%

Shares of Rockwell Automation stock opened at $344.16 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72. The company has a 50-day moving average of $344.26 and a 200 day moving average of $313.23. The firm has a market cap of $38.69 billion, a price-to-earnings ratio of 40.39, a PEG ratio of 3.10 and a beta of 1.41. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $360.92.

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

Analysts Set New Price Targets

Several research analysts have commented on ROK shares. KeyCorp upped their price objective on shares of Rockwell Automation from $370.00 to $380.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Oppenheimer decreased their price objective on shares of Rockwell Automation from $371.00 to $363.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Stephens restated an “overweight” rating and issued a $375.00 price objective (up from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. CICC Research started coverage on shares of Rockwell Automation in a report on Monday, July 7th. They issued an “outperform” rating and a $381.00 price objective for the company. Finally, Bank of America upgraded shares of Rockwell Automation from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $360.00 to $410.00 in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $340.68.

Insider Activity at Rockwell Automation

In related news, SVP Cyril Perducat sold 1,435 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $348.08, for a total transaction of $499,494.80. Following the sale, the senior vice president directly owned 3,787 shares of the company’s stock, valued at approximately $1,318,178.96. This represents a 27.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Blake D. Moret sold 24,400 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $350.13, for a total transaction of $8,543,172.00. Following the sale, the chief executive officer directly owned 83,873 shares in the company, valued at approximately $29,366,453.49. The trade was a 22.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,922 shares of company stock worth $11,191,812 in the last ninety days. 0.68% of the stock is currently owned by company insiders.

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.