Allianz Asset Management GmbH Decreases Stock Holdings in Rockwell Automation, Inc. $ROK

Allianz Asset Management GmbH lessened its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 42.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,744 shares of the industrial products company’s stock after selling 4,297 shares during the period. Allianz Asset Management GmbH’s holdings in Rockwell Automation were worth $1,908,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ROK. Robeco Institutional Asset Management B.V. raised its holdings in Rockwell Automation by 720.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 399,309 shares of the industrial products company’s stock valued at $132,638,000 after buying an additional 350,662 shares during the period. Great Lakes Advisors LLC purchased a new stake in Rockwell Automation during the 1st quarter valued at $73,908,000. Nuveen LLC purchased a new stake in Rockwell Automation during the 1st quarter valued at $63,632,000. Raymond James Financial Inc. raised its holdings in Rockwell Automation by 213.7% during the 1st quarter. Raymond James Financial Inc. now owns 357,080 shares of the industrial products company’s stock valued at $92,263,000 after buying an additional 243,249 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Rockwell Automation by 1,950.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 202,788 shares of the industrial products company’s stock valued at $67,360,000 after buying an additional 192,898 shares during the period. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Insiders Place Their Bets

In other Rockwell Automation news, SVP Cyril Perducat sold 1,435 shares of the firm’s stock in a transaction dated 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 owned 3,787 shares of the company’s stock, valued at approximately $1,318,178.96. This trade represents a 27.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Isaac Woods sold 250 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $350.00, for a total value of $87,500.00. Following the completion of the sale, the vice president directly owned 1,662 shares of the company’s stock, valued at approximately $581,700. This represents a 13.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,553 shares of company stock worth $10,361,079 in the last three months. Insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

ROK has been the topic of several recent research reports. Barclays increased their price target on Rockwell Automation from $357.00 to $370.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Oppenheimer increased their target price on Rockwell Automation from $363.00 to $365.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. Bank of America upgraded Rockwell Automation from a “neutral” rating to a “buy” rating and increased their target price for the stock from $360.00 to $410.00 in a research note on Wednesday, July 16th. JPMorgan Chase & Co. increased their target price on Rockwell Automation from $320.00 to $357.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Finally, KeyCorp increased their target price on Rockwell Automation from $370.00 to $380.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $347.94.

Rockwell Automation Price Performance

Shares of ROK stock opened at $357.01 on Friday. Rockwell Automation, Inc. has a 1-year low of $215.00 and a 1-year high of $361.60. The stock’s 50-day moving average is $345.80 and its 200 day moving average is $322.13. The company has a market cap of $40.14 billion, a P/E ratio of 41.90, a PEG ratio of 3.20 and a beta of 1.41. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72.

Rockwell Automation (NYSE:ROK) last issued 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. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate 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 last year, the company earned $2.71 earnings per share. Research analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current fiscal year.

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.