Rockwell Automation, Inc. $ROK Shares Bought by SouthState Bank Corp

SouthState Bank Corp raised its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 3.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 51,898 shares of the industrial products company’s stock after buying an additional 1,728 shares during the period. SouthState Bank Corp’s holdings in Rockwell Automation were worth $18,140,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. grew its holdings in Rockwell Automation by 180.5% during the third quarter. Bessemer Group Inc. now owns 5,842 shares of the industrial products company’s stock worth $2,042,000 after acquiring an additional 3,759 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Rockwell Automation by 0.4% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 35,173 shares of the industrial products company’s stock worth $12,294,000 after purchasing an additional 145 shares during the period. Gallacher Capital Management LLC purchased a new position in shares of Rockwell Automation during the 3rd quarter valued at approximately $594,000. Optimize Financial Inc purchased a new position in shares of Rockwell Automation during the 3rd quarter valued at approximately $326,000. Finally, Cherry Creek Investment Advisors Inc. lifted its stake in shares of Rockwell Automation by 11.9% in the 3rd quarter. Cherry Creek Investment Advisors Inc. now owns 695 shares of the industrial products company’s stock valued at $243,000 after purchasing an additional 74 shares during the period. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Insider Buying and Selling at Rockwell Automation

In other news, VP Isaac Woods sold 229 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $401.92, for a total value of $92,039.68. Following the completion of the sale, the vice president directly owned 2,058 shares in the company, valued at $827,151.36. This represents a 10.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Terry L. Riesterer sold 800 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $392.00, for a total transaction of $313,600.00. Following the transaction, the vice president owned 1,234 shares in the company, valued at $483,728. The trade was a 39.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 25,531 shares of company stock valued at $10,259,637. 0.76% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on ROK shares. Weiss Ratings restated a “hold (c)” rating on shares of Rockwell Automation in a research report on Monday, December 29th. Argus upgraded Rockwell Automation to a “strong-buy” rating in a research note on Friday, January 16th. Evercore ISI began coverage on Rockwell Automation in a report on Monday, December 15th. They issued an “in-line” rating and a $440.00 price target for the company. Jefferies Financial Group raised their price objective on Rockwell Automation from $450.00 to $470.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Finally, Morgan Stanley upped their target price on Rockwell Automation from $435.00 to $440.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $410.12.

Rockwell Automation Price Performance

Shares of Rockwell Automation stock opened at $430.35 on Thursday. The stock has a market capitalization of $48.32 billion, a P/E ratio of 56.18, a PEG ratio of 3.02 and a beta of 1.52. The business has a 50 day simple moving average of $406.96 and a two-hundred day simple moving average of $371.99. Rockwell Automation, Inc. has a 12 month low of $215.00 and a 12 month high of $438.72. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.14 and a quick ratio of 0.77.

Rockwell Automation (NYSE:ROK) last issued its quarterly earnings results on Thursday, November 6th. The industrial products company reported $3.34 EPS for the quarter, topping the consensus estimate of $2.94 by $0.40. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Rockwell Automation had a return on equity of 32.69% and a net margin of 10.42%.The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.47 earnings per share. As a group, analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Rockwell Automation Profile

Rockwell Automation is a global industrial automation and digital transformation company headquartered in Milwaukee, Wisconsin. The firm designs, manufactures and supports control systems, industrial control hardware and software, and related services that help manufacturers and industrial operators automate processes, improve productivity and enable data-driven decision making. Rockwell traces its heritage to the Allen-Bradley and Rockwell automation businesses and positions itself as a provider of integrated automation solutions across discrete and process industries.

The company’s product portfolio includes programmable logic controllers (PLCs), human-machine interfaces (HMIs), variable frequency drives, sensors, safety components and other industrial control hardware, often marketed under the Allen-Bradley brand.