Rockwell Automation, Inc. (NYSE:ROK) Stock Position Reduced by Hemenway Trust Co LLC

Hemenway Trust Co LLC trimmed its position in Rockwell Automation, Inc. (NYSE:ROK) by 0.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,553 shares of the industrial products company’s stock after selling 54 shares during the quarter. Rockwell Automation makes up approximately 2.5% of Hemenway Trust Co LLC’s holdings, making the stock its 19th largest position. Hemenway Trust Co LLC owned 0.09% of Rockwell Automation worth $29,332,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ROK. Farmers & Merchants Investments Inc. boosted its stake in Rockwell Automation by 0.7% in the second quarter. Farmers & Merchants Investments Inc. now owns 17,030 shares of the industrial products company’s stock valued at $4,688,000 after acquiring an additional 123 shares during the period. Arizona State Retirement System boosted its position in Rockwell Automation by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 33,226 shares of the industrial products company’s stock valued at $9,146,000 after purchasing an additional 344 shares during the period. 9258 Wealth Management LLC grew its stake in Rockwell Automation by 3.1% during the 2nd quarter. 9258 Wealth Management LLC now owns 1,501 shares of the industrial products company’s stock worth $413,000 after buying an additional 45 shares during the last quarter. National Bank of Canada FI increased its position in Rockwell Automation by 15.9% in the second quarter. National Bank of Canada FI now owns 56,899 shares of the industrial products company’s stock worth $15,103,000 after buying an additional 7,790 shares during the period. Finally, SouthState Corp lifted its stake in Rockwell Automation by 5.5% in the second quarter. SouthState Corp now owns 43,797 shares of the industrial products company’s stock valued at $12,056,000 after buying an additional 2,283 shares during the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rockwell Automation

In other news, SVP Tessa M. Myers sold 528 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $253.78, for a total value of $133,995.84. Following the completion of the sale, the senior vice president now owns 3,718 shares of the company’s stock, valued at $943,554.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.68% of the company’s stock.

Rockwell Automation Trading Down 0.0 %

Shares of NYSE ROK traded down $0.06 during mid-day trading on Friday, hitting $256.86. 61,503 shares of the company traded hands, compared to its average volume of 924,448. The business has a 50 day moving average of $266.81 and a two-hundred day moving average of $271.67. The stock has a market capitalization of $29.28 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 4.84 and a beta of 1.37. Rockwell Automation, Inc. has a 1 year low of $242.81 and a 1 year high of $312.76. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.73.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.63. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period last year, the firm posted $3.01 earnings per share. On average, sell-side analysts anticipate that Rockwell Automation, Inc. will post 9.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ROK. Oppenheimer dropped their price objective on shares of Rockwell Automation from $295.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Bank of America cut their price target on Rockwell Automation from $300.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. TD Cowen decreased their price objective on Rockwell Automation from $220.00 to $215.00 and set a “sell” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. cut their target price on Rockwell Automation from $245.00 to $227.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Finally, Wells Fargo & Company decreased their price target on Rockwell Automation from $305.00 to $293.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Rockwell Automation has an average rating of “Hold” and a consensus target price of $282.80.

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.