Prime Capital Investment Advisors LLC Sells 4,849 Shares of Rockwell Automation, Inc. $ROK

Prime Capital Investment Advisors LLC reduced its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 19.3% during the second quarter, Holdings Channel reports. The institutional investor owned 20,264 shares of the industrial products company’s stock after selling 4,849 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Rockwell Automation were worth $6,731,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Duncan Williams Asset Management LLC bought a new stake in shares of Rockwell Automation during the second quarter valued at approximately $291,000. Valeo Financial Advisors LLC lifted its holdings in shares of Rockwell Automation by 34.5% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,720 shares of the industrial products company’s stock worth $904,000 after purchasing an additional 698 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in Rockwell Automation in the 2nd quarter valued at $574,000. Simplicity Wealth LLC increased its stake in Rockwell Automation by 173.8% during the 2nd quarter. Simplicity Wealth LLC now owns 2,415 shares of the industrial products company’s stock valued at $802,000 after purchasing an additional 1,533 shares in the last quarter. Finally, Chemung Canal Trust Co. bought a new stake in Rockwell Automation during the 2nd quarter valued at $210,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Insider Activity

In other Rockwell Automation news, VP Isaac Woods sold 365 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $348.44, for a total transaction of $127,180.60. Following the sale, the vice president directly owned 1,691 shares of the company’s stock, valued at $589,212.04. This represents a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Blake D. Moret sold 24,400 shares of Rockwell Automation stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $350.13, for a total transaction of $8,543,172.00. Following the completion of the transaction, the chief executive officer owned 83,873 shares of the company’s stock, valued at $29,366,453.49. The trade was a 22.54% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,922 shares of company stock worth $11,191,812. 0.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ROK shares. Stephens reaffirmed an “overweight” rating and issued a $375.00 price objective (up from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. Bank of America upgraded Rockwell Automation from a “neutral” rating to a “buy” rating and lifted their price target for the company from $360.00 to $410.00 in a research note on Wednesday, July 16th. Wall Street Zen raised Rockwell Automation from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. CICC Research initiated coverage on Rockwell Automation in a report on Monday, July 7th. They issued an “outperform” rating and a $381.00 target price on the stock. Finally, KeyCorp upped their price target on Rockwell Automation from $370.00 to $380.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $340.68.

Rockwell Automation Stock Down 0.2%

Rockwell Automation stock opened at $348.69 on Tuesday. The firm has a 50 day moving average price of $344.46 and a 200-day moving average price of $313.01. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.72. Rockwell Automation, Inc. has a twelve month low of $215.00 and a twelve month high of $360.92. The company has a market capitalization of $39.20 billion, a P/E ratio of 40.93, a P/E/G ratio of 3.10 and a beta of 1.41.

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

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.