Convergence Investment Partners LLC Purchases New Position in Rockwell Automation, Inc. $ROK

Convergence Investment Partners LLC purchased a new stake in shares of Rockwell Automation, Inc. (NYSE:ROK) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,953 shares of the industrial products company’s stock, valued at approximately $1,313,000.

Several other institutional investors also recently bought and sold shares of ROK. Brighton Jones LLC purchased a new position in Rockwell Automation during the fourth quarter valued at approximately $281,000. GAMMA Investing LLC grew its holdings in Rockwell Automation by 15.9% in the first quarter. GAMMA Investing LLC now owns 2,720 shares of the industrial products company’s stock valued at $703,000 after purchasing an additional 373 shares during the period. Sequoia Financial Advisors LLC grew its holdings in Rockwell Automation by 1.8% in the first quarter. Sequoia Financial Advisors LLC now owns 4,725 shares of the industrial products company’s stock valued at $1,221,000 after purchasing an additional 83 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Rockwell Automation by 26.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 48,647 shares of the industrial products company’s stock valued at $12,569,000 after purchasing an additional 10,023 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Rockwell Automation by 1,287.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 159,481 shares of the industrial products company’s stock valued at $41,221,000 after purchasing an additional 147,985 shares during the period. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. Wall Street Zen raised Rockwell Automation from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. CICC Research assumed coverage on Rockwell Automation in a report on Monday, July 7th. They issued an “outperform” rating and a $381.00 price objective on the stock. Stephens reissued an “overweight” rating and issued a $375.00 price objective (up from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. Oppenheimer raised their price objective on Rockwell Automation from $363.00 to $365.00 and gave the company an “outperform” rating in a report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. lifted their price target on Rockwell Automation from $320.00 to $357.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Rockwell Automation currently has an average rating of “Moderate Buy” and a consensus price target of $347.94.

Rockwell Automation Stock Performance

Shares of NYSE:ROK opened at $357.01 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72. The business’s 50 day moving average price is $345.80 and its 200-day moving average price is $322.69. The firm has a market capitalization of $40.14 billion, a PE ratio of 41.90, a P/E/G ratio of 3.20 and a beta of 1.41. Rockwell Automation, Inc. has a 1 year low of $215.00 and a 1 year high of $361.60.

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 analysts’ consensus estimates of $2.67 by $0.15. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.71 earnings per share. As a group, equities research analysts expect that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rockwell Automation news, SVP Cyril Perducat sold 1,435 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $348.08, for a total transaction of $499,494.80. Following the transaction, the senior vice president owned 3,787 shares of the company’s stock, valued at approximately $1,318,178.96. The trade was a 27.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Isaac Woods sold 365 shares of the business’s stock in a transaction 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 transaction, the vice president directly owned 1,691 shares in the company, valued at $589,212.04. This trade represents a 17.75% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,553 shares of company stock worth $10,361,079. 0.68% of the stock is currently owned by corporate insiders.

Rockwell Automation 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.