Allspring Global Investments Holdings LLC Reduces Stake in Rockwell Automation, Inc. $ROK

Allspring Global Investments Holdings LLC lowered its position in Rockwell Automation, Inc. (NYSE:ROK) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,537 shares of the industrial products company’s stock after selling 115 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Rockwell Automation were worth $1,875,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Citizens National Bank Trust Department bought a new position in Rockwell Automation during the 1st quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. bought a new position in Rockwell Automation during the 1st quarter valued at approximately $31,000. IMA Advisory Services Inc. bought a new position in Rockwell Automation during the 1st quarter valued at approximately $32,000. Cooksen Wealth LLC bought a new position in Rockwell Automation during the 1st quarter valued at approximately $34,000. Finally, Legend Financial Advisors Inc. bought a new position in Rockwell Automation during the 2nd quarter valued at approximately $39,000. Institutional investors own 75.75% of the company’s stock.

Insiders Place Their Bets

In other news, VP Isaac Woods sold 365 shares of the business’s stock in a transaction dated 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. The trade was a 17.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Cyril Perducat sold 1,435 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $348.08, for a total value of $499,494.80. Following the completion of the transaction, the senior vice president owned 3,787 shares in the company, valued at $1,318,178.96. The trade was a 27.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,553 shares of company stock valued at $10,361,079 over the last three months. Insiders own 0.68% of the company’s stock.

Rockwell Automation Price Performance

NYSE ROK opened at $354.07 on Wednesday. The company has a market capitalization of $39.81 billion, a PE ratio of 41.56, a price-to-earnings-growth ratio of 3.16 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. The business’s fifty day moving average is $345.31 and its 200 day moving average is $319.34. Rockwell Automation, Inc. has a fifty-two week low of $215.00 and a fifty-two week high of $360.92.

Rockwell Automation (NYSE:ROK) last released its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $2.07 billion. During the same period in the previous year, the business earned $2.71 earnings per share. Rockwell Automation’s quarterly revenue was up 4.5% compared to the same quarter last year. Sell-side analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Analyst Ratings Changes

ROK has been the subject of a number of research analyst reports. Wall Street Zen raised Rockwell Automation from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Stephens reissued an “overweight” rating and issued a $375.00 target price (up previously from $350.00) on shares of Rockwell Automation in a report on Wednesday, July 16th. Oppenheimer lifted their target price on Rockwell Automation from $363.00 to $365.00 and gave the stock an “outperform” rating in a report on Tuesday, October 14th. CICC Research initiated coverage on Rockwell Automation in a report on Monday, July 7th. They issued an “outperform” rating and a $381.00 target price for the company. Finally, Wells Fargo & Company lifted their target price 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 research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $347.94.

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.