Cidel Asset Management Inc. Invests $204,000 in Rockwell Automation, Inc. $ROK

Cidel Asset Management Inc. purchased a new position in shares of Rockwell Automation, Inc. (NYSE:ROK) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 613 shares of the industrial products company’s stock, valued at approximately $204,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Investment Advisors LLC boosted its holdings in Rockwell Automation by 5.7% in the second quarter. Capital Investment Advisors LLC now owns 2,192 shares of the industrial products company’s stock valued at $728,000 after acquiring an additional 119 shares during the last quarter. CWM LLC boosted its holdings in Rockwell Automation by 3.7% in the first quarter. CWM LLC now owns 2,353 shares of the industrial products company’s stock valued at $608,000 after acquiring an additional 84 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Rockwell Automation by 0.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company’s stock valued at $1,462,000 after acquiring an additional 43 shares during the last quarter. Brighton Jones LLC bought a new stake in Rockwell Automation in the fourth quarter valued at approximately $281,000. Finally, Integrity Alliance LLC. bought a new stake in Rockwell Automation in the first quarter valued at approximately $293,000. 75.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on ROK. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rockwell Automation in a report on Wednesday, October 8th. Oppenheimer increased their price target on Rockwell Automation from $363.00 to $365.00 and gave the stock an “outperform” rating in a report on Tuesday, October 14th. Wall Street Zen upgraded Rockwell Automation from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Barclays increased their price target on Rockwell Automation from $357.00 to $370.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Finally, Wells Fargo & Company increased their price target on Rockwell Automation from $345.00 to $355.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Rockwell Automation presently has a consensus rating of “Moderate Buy” and a consensus target price of $347.94.

Rockwell Automation Price Performance

Shares of NYSE:ROK opened at $352.93 on Tuesday. 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 stock’s 50 day moving average is $345.02 and its 200-day moving average is $319.09. The firm has a market capitalization of $39.68 billion, a price-to-earnings ratio of 41.42, a PEG ratio of 3.12 and a beta of 1.41.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share 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 company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the prior year, the firm earned $2.71 earnings per share. Rockwell Automation’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts forecast that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Cyril Perducat sold 1,435 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $348.08, for a total value of $499,494.80. Following the completion of the sale, the senior vice president directly owned 3,787 shares of the company’s stock, valued at approximately $1,318,178.96. This represents a 27.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Blake D. Moret sold 24,400 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $350.13, for a total value of $8,543,172.00. Following the completion of the sale, the chief executive officer directly owned 83,873 shares of the company’s stock, valued at $29,366,453.49. The trade was a 22.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,553 shares of company stock valued at $10,361,079. 0.68% of the stock is owned by corporate insiders.

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.