Penobscot Investment Management Company Inc. Has $1.49 Million Stake in Rockwell Automation, Inc. $ROK

Penobscot Investment Management Company Inc. trimmed its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 4.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,488 shares of the industrial products company’s stock after selling 200 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Rockwell Automation were worth $1,491,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Citizens National Bank Trust Department acquired a new stake in Rockwell Automation during the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. bought a new stake in Rockwell Automation during the 1st quarter valued at $31,000. IMA Advisory Services Inc. bought a new stake in Rockwell Automation during the 1st quarter valued at $32,000. Cooksen Wealth LLC purchased a new position in Rockwell Automation during the 1st quarter worth $34,000. Finally, Legend Financial Advisors Inc. purchased a new position in Rockwell Automation during the 2nd quarter worth $39,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Rockwell Automation Stock Performance

NYSE:ROK opened at $349.05 on Friday. The business has a 50 day moving average price of $344.60 and a 200-day moving average price of $311.65. Rockwell Automation, Inc. has a fifty-two week low of $215.00 and a fifty-two week high of $360.92. The firm has a market cap of $39.24 billion, a PE ratio of 40.97, a price-to-earnings-growth ratio of 3.14 and a beta of 1.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.72 and a current ratio of 1.06.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the company earned $2.71 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Insider Activity

In related news, CEO Blake D. Moret sold 24,400 shares of Rockwell Automation stock in a transaction that occurred on 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 sale, the chief executive officer owned 83,873 shares of the company’s stock, valued at approximately $29,366,453.49. This trade represents a 22.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Isaac Woods sold 365 shares of Rockwell Automation stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $348.44, for a total value of $127,180.60. Following the completion of the sale, the vice president directly owned 1,691 shares in the company, 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. Over the last quarter, insiders sold 31,922 shares of company stock worth $11,191,812. 0.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on ROK shares. KeyCorp lifted 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. Weiss Ratings reissued a “buy (b-)” rating on shares of Rockwell Automation in a report on Saturday, September 27th. Bank of America raised shares of Rockwell Automation from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $360.00 to $410.00 in a report on Wednesday, July 16th. Citigroup reissued a “buy” rating and issued a $392.00 price target (up from $371.00) on shares of Rockwell Automation in a report on Monday, July 14th. Finally, Barclays upped their price objective on shares of Rockwell Automation from $357.00 to $370.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Rockwell Automation currently has an average rating of “Moderate Buy” and an average target price of $340.16.

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.