Caitong International Asset Management Co. Ltd Lowers Stake in Rockwell Automation, Inc. $ROK

Caitong International Asset Management Co. Ltd lowered its position in shares of Rockwell Automation, Inc. (NYSE:ROK) by 88.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103 shares of the industrial products company’s stock after selling 800 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Rockwell Automation were worth $34,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Citizens National Bank Trust Department purchased a new position in shares of Rockwell Automation in the first quarter worth $26,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Rockwell Automation in the first quarter worth $31,000. IMA Advisory Services Inc. purchased a new position in shares of Rockwell Automation in the first quarter worth $32,000. Cooksen Wealth LLC purchased a new position in shares of Rockwell Automation in the first quarter worth $34,000. Finally, Legend Financial Advisors Inc. purchased a new position in shares of Rockwell Automation in the second quarter worth $39,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Rockwell Automation Trading Down 0.0%

ROK stock opened at $357.01 on Monday. 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 $361.60. The stock has a market capitalization of $40.14 billion, a price-to-earnings ratio of 41.90, a price-to-earnings-growth ratio of 3.20 and a beta of 1.41. The firm’s fifty day simple moving average is $345.80 and its two-hundred day simple moving average is $322.69.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.15. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the business posted $2.71 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. As a group, analysts anticipate that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on ROK. Oppenheimer boosted their target price on shares of Rockwell Automation from $363.00 to $365.00 and gave the stock an “outperform” rating in a report on Tuesday, October 14th. Wells Fargo & Company boosted their target price on shares of Rockwell Automation from $345.00 to $355.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Rockwell Automation in a research report on Saturday. KeyCorp boosted their price target on shares of Rockwell Automation from $370.00 to $380.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Rockwell Automation from $320.00 to $357.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Rockwell Automation currently has a consensus rating of “Moderate Buy” and an average price target of $347.94.

Insider Activity

In other news, CEO Blake D. Moret sold 24,400 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 83,873 shares in the company, valued at approximately $29,366,453.49. This represents a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James P. Keane sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $356.06, for a total transaction of $1,068,180.00. Following the completion of the transaction, the director owned 9,192 shares in the company, valued at approximately $3,272,903.52. The trade was a 24.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,553 shares of company stock worth $10,361,079. 0.68% of the stock is currently owned by insiders.

Rockwell Automation Company 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.