Massachusetts Financial Services Co. MA Acquires 172,577 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Massachusetts Financial Services Co. MA lifted its position in Rockwell Automation, Inc. (NYSE:ROKFree Report) by 9.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,908,119 shares of the industrial products company’s stock after buying an additional 172,577 shares during the period. Massachusetts Financial Services Co. MA owned about 1.66% of Rockwell Automation worth $545,474,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. KLCM Advisors Inc. increased its position in Rockwell Automation by 16.6% during the third quarter. KLCM Advisors Inc. now owns 1,136 shares of the industrial products company’s stock valued at $325,000 after acquiring an additional 162 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Rockwell Automation by 9.4% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,728 shares of the industrial products company’s stock worth $780,000 after buying an additional 234 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Rockwell Automation by 94.7% in the second quarter. B. Riley Wealth Advisors Inc. now owns 14,794 shares of the industrial products company’s stock worth $4,874,000 after buying an additional 7,197 shares during the last quarter. Bank of Nova Scotia grew its position in Rockwell Automation by 16.2% during the second quarter. Bank of Nova Scotia now owns 8,526 shares of the industrial products company’s stock valued at $2,809,000 after buying an additional 1,189 shares during the period. Finally, WBI Investments Inc. purchased a new stake in Rockwell Automation during the second quarter valued at approximately $2,822,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Rockwell Automation

In other news, VP Terry L. Riesterer sold 176 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $279.72, for a total value of $49,230.72. Following the sale, the vice president now directly owns 2,209 shares in the company, valued at approximately $617,901.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Blake D. Moret sold 1,143 shares of the firm’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $278.73, for a total value of $318,588.39. Following the completion of the sale, the chief executive officer now owns 65,848 shares in the company, valued at approximately $18,353,813.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Terry L. Riesterer sold 176 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $279.72, for a total transaction of $49,230.72. Following the transaction, the vice president now owns 2,209 shares in the company, valued at $617,901.48. The disclosure for this sale can be found here. Insiders have sold 10,386 shares of company stock valued at $2,892,850 in the last ninety days. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Rockwell Automation from $357.00 to $320.00 and set an “overweight” rating for the company in a research report on Thursday. Oppenheimer cut their price target on Rockwell Automation from $324.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday. UBS Group raised Rockwell Automation from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $305.00 to $360.00 in a research note on Wednesday, January 3rd. Citigroup cut their price objective on Rockwell Automation from $351.00 to $330.00 and set a “buy” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Rockwell Automation from $262.00 to $230.00 and set an “underweight” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $307.92.

Read Our Latest Report on Rockwell Automation

Rockwell Automation Stock Performance

Shares of NYSE ROK opened at $268.01 on Monday. The company has a market cap of $30.71 billion, a P/E ratio of 25.50, a P/E/G ratio of 2.43 and a beta of 1.42. Rockwell Automation, Inc. has a 52-week low of $252.11 and a 52-week high of $348.52. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.25. The firm’s fifty day moving average is $295.47 and its two-hundred day moving average is $291.99.

Rockwell Automation (NYSE:ROKGet Free Report) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by ($0.58). Rockwell Automation had a return on equity of 37.22% and a net margin of 13.35%. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period last year, the firm posted $2.46 earnings per share. As a group, analysts anticipate that Rockwell Automation, Inc. will post 12.66 EPS for the current fiscal year.

About Rockwell Automation

(Free Report)

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.

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Institutional Ownership by Quarter for Rockwell Automation (NYSE:ROK)

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