633 Shares in Rockwell Automation, Inc. $ROK Acquired by Chemung Canal Trust Co.

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

Several other institutional investors have also recently made changes to their positions in ROK. Wealthcare Advisory Partners LLC purchased a new stake in Rockwell Automation in the 2nd quarter worth approximately $379,000. Talbot Financial LLC increased its holdings in shares of Rockwell Automation by 16.3% in the second quarter. Talbot Financial LLC now owns 29,908 shares of the industrial products company’s stock worth $9,935,000 after purchasing an additional 4,193 shares during the period. Clarius Group LLC raised its position in shares of Rockwell Automation by 13.7% in the second quarter. Clarius Group LLC now owns 1,347 shares of the industrial products company’s stock worth $447,000 after buying an additional 162 shares in the last quarter. Accel Wealth Management bought a new stake in Rockwell Automation during the second quarter valued at $229,000. Finally, Hudson Valley Investment Advisors Inc. ADV purchased a new position in Rockwell Automation during the second quarter worth about $3,092,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Price Performance

ROK opened at $349.05 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $360.92. The stock’s 50 day simple moving average is $344.60 and its 200 day simple moving average is $312.01. The firm has a market cap of $39.24 billion, a price-to-earnings ratio of 40.97, a PEG ratio of 3.14 and a beta of 1.41.

Rockwell Automation (NYSE:ROK) last issued 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. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.71 earnings per share. As a group, analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Insider Activity

In other news, VP Terry L. Riesterer sold 2,100 shares of the firm’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $350.08, for a total transaction of $735,168.00. Following the completion of the transaction, the vice president directly owned 1,033 shares in the company, valued at $361,632.64. This trade represents a 67.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 owned 83,873 shares of the company’s stock, valued at approximately $29,366,453.49. This represents a 22.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,922 shares of company stock worth $11,191,812. Company insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ROK. Stephens restated an “overweight” rating and issued a $375.00 price objective (up from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. KeyCorp increased their price target 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. Wells Fargo & Company set a $345.00 price objective on shares of Rockwell Automation and gave the stock an “equal weight” rating in a report on Friday, August 8th. Citigroup restated a “buy” rating and set a $392.00 price target (up previously from $371.00) on shares of Rockwell Automation in a research report on Monday, July 14th. Finally, Bank of America raised Rockwell Automation from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $360.00 to $410.00 in a research note on Wednesday, July 16th. 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $340.16.

Rockwell Automation 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.