Truist Financial Corp Sells 37,730 Shares of Rockwell Automation, Inc. $ROK

Truist Financial Corp cut its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 22.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,802 shares of the industrial products company’s stock after selling 37,730 shares during the quarter. Truist Financial Corp owned approximately 0.12% of Rockwell Automation worth $44,445,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ROK. Fifth Third Bancorp grew its position in Rockwell Automation by 8.5% during the 1st quarter. Fifth Third Bancorp now owns 5,424 shares of the industrial products company’s stock worth $1,401,000 after acquiring an additional 423 shares during the last quarter. CWM LLC grew its position in Rockwell Automation by 3.7% during the 1st quarter. CWM LLC now owns 2,353 shares of the industrial products company’s stock worth $608,000 after acquiring an additional 84 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Rockwell Automation by 0.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company’s stock worth $1,462,000 after acquiring an additional 43 shares during the last quarter. Brighton Jones LLC bought a new position in Rockwell Automation during the 4th quarter worth approximately $281,000. Finally, J.W. Cole Advisors Inc. grew its position in Rockwell Automation by 128.7% during the 1st quarter. J.W. Cole Advisors Inc. now owns 4,382 shares of the industrial products company’s stock worth $1,132,000 after acquiring an additional 2,466 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ROK has been the topic of several recent research reports. Stephens restated an “overweight” rating and set a $375.00 price target (up from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. CICC Research initiated coverage on Rockwell Automation in a research report on Monday, July 7th. They set an “outperform” rating and a $381.00 price target on the stock. KeyCorp raised their price target on Rockwell Automation from $370.00 to $380.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Wells Fargo & Company set a $345.00 price objective on Rockwell Automation and gave the stock an “equal weight” rating in a report on Friday, August 8th. Finally, Wall Street Zen upgraded Rockwell Automation from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $340.16.

Rockwell Automation Trading Down 0.2%

NYSE ROK opened at $348.66 on Friday. 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. The stock has a 50 day simple moving average of $344.80 and a two-hundred day simple moving average of $311.02. The stock has a market cap of $39.20 billion, a P/E ratio of 40.92, a price-to-earnings-growth ratio of 3.14 and a beta of 1.41.

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

Insider Buying and Selling

In other news, Director James P. Keane sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $356.06, for a total value of $1,068,180.00. Following the completion of the transaction, the director owned 9,192 shares in the company, valued at $3,272,903.52. This trade represents a 24.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Isaac Woods sold 365 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $348.44, for a total value of $127,180.60. Following the completion of the transaction, the vice president owned 1,691 shares of the company’s stock, valued at approximately $589,212.04. The trade was a 17.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,922 shares of company stock worth $11,191,812 over the last quarter. Company insiders own 0.68% of the company’s stock.

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.