Conning Inc. cut its position in shares of Rockwell Automation Inc. (NYSE:ROK) by 11.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,746 shares of the company’s stock after selling 23,527 shares during the period. Conning Inc.’s holdings in Rockwell Automation were worth $20,983,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. bought a new position in shares of Rockwell Automation during the first quarter worth $42,824,000. Telemus Capital LLC bought a new position in shares of Rockwell Automation during the second quarter worth $201,000. ING Groep NV bought a new position in shares of Rockwell Automation during the first quarter worth $345,000. Legal & General Group Plc raised its position in shares of Rockwell Automation by 4.2% in the first quarter. Legal & General Group Plc now owns 603,433 shares of the company’s stock worth $68,641,000 after buying an additional 24,229 shares during the last quarter. Finally, National Pension Service raised its position in shares of Rockwell Automation by 4.5% in the first quarter. National Pension Service now owns 84,657 shares of the company’s stock worth $9,630,000 after buying an additional 3,643 shares during the last quarter. 74.29% of the stock is currently owned by hedge funds and other institutional investors.

Rockwell Automation Inc. (NYSE:ROK) traded up 1.73% during trading on Wednesday, hitting $117.03. 663,560 shares of the company traded hands. The stock has a 50 day moving average price of $116.77 and a 200 day moving average price of $114.97. The company has a market capitalization of $15.14 billion, a P/E ratio of 20.82 and a beta of 1.22. Rockwell Automation Inc. has a 12-month low of $87.53 and a 12-month high of $120.75.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $1.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.09. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Rockwell Automation had a return on equity of 35.83% and a net margin of 12.54%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.59 earnings per share. On average, equities analysts anticipate that Rockwell Automation Inc. will post $5.90 earnings per share for the current year.

ROK has been the topic of a number of research reports. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Rockwell Automation in a research note on Wednesday, June 22nd. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Rockwell Automation in a research note on Monday, June 27th. Zacks Investment Research lowered shares of Rockwell Automation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Canaccord Genuity lowered shares of Rockwell Automation from a “buy” rating to a “hold” rating and set a $94.00 price target on the stock. in a research note on Tuesday, July 26th. Finally, Citigroup Inc. cut their price objective on shares of Rockwell Automation from $120.00 to $118.00 and set a “neutral” rating on the stock in a research report on Thursday, July 28th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. Rockwell Automation currently has an average rating of “Hold” and an average target price of $105.08.

In other news, VP David M. Dorgan sold 2,200 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $119.06, for a total value of $261,932.00. Following the sale, the vice president now directly owns 12,500 shares of the company’s stock, valued at $1,488,250. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Theodore D. Crandall sold 5,404 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $118.49, for a total value of $640,319.96. Following the completion of the sale, the chief financial officer now directly owns 98,135 shares in the company, valued at $11,628,016.15. The disclosure for this sale can be found here. 1.54% of the stock is owned by corporate insiders.

About Rockwell Automation

Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.

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