Covea Finance Boosts Holdings in Rockwell Automation, Inc. $ROK

Covea Finance grew its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 10.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 64,709 shares of the industrial products company’s stock after purchasing an additional 5,886 shares during the quarter. Covea Finance’s holdings in Rockwell Automation were worth $21,494,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Citizens National Bank Trust Department acquired a new stake in shares of Rockwell Automation during the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Rockwell Automation during the 1st quarter worth about $31,000. IMA Advisory Services Inc. acquired a new stake in shares of Rockwell Automation during the 1st quarter worth about $32,000. Cooksen Wealth LLC acquired a new stake in shares of Rockwell Automation during the 1st quarter worth about $34,000. Finally, Cary Street Partners Investment Advisory LLC boosted its stake in shares of Rockwell Automation by 59.6% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 166 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 62 shares during the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Cyril Perducat sold 1,435 shares of Rockwell Automation stock in a transaction on Friday, August 29th. The shares were sold at an average price of $348.08, for a total value of $499,494.80. Following the completion of the transaction, the senior vice president owned 3,787 shares of the company’s stock, valued at $1,318,178.96. The trade was a 27.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Isaac Woods sold 250 shares of Rockwell Automation stock in a transaction 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 transaction, the vice president directly owned 1,662 shares of the company’s stock, valued at approximately $581,700. This represents a 13.08% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,922 shares of company stock valued at $11,191,812. 0.68% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on ROK shares. KeyCorp raised their price target on shares of Rockwell Automation from $370.00 to $380.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Citigroup reaffirmed a “buy” rating and set a $392.00 price target (up from $371.00) on shares of Rockwell Automation in a research note on Monday, July 14th. Stephens reaffirmed an “overweight” rating and set a $375.00 price target (up from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. Bank of America raised shares of Rockwell Automation from a “neutral” rating to a “buy” rating and raised their target price for the stock from $360.00 to $410.00 in a research report on Wednesday, July 16th. Finally, Barclays raised their target price on shares of Rockwell Automation from $357.00 to $370.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Rockwell Automation presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.16.

Rockwell Automation Trading Down 0.7%

ROK opened at $345.40 on Tuesday. The firm has a market capitalization of $38.83 billion, a P/E ratio of 40.54, a P/E/G ratio of 3.63 and a beta of 1.41. The firm’s 50 day moving average is $346.20 and its 200-day moving average is $307.08. Rockwell Automation, Inc. has a 52-week low of $215.00 and a 52-week high of $360.92. 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 (NYSE:ROK) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.15. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates 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 firm earned $2.71 earnings per share. Analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

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.